CreditApp Secures $2.7 Million in Growth Capital to Revolutionize Consumer Lending
Funds Raised to Accelerate Commercialization and Market Expansion of Innovative Lending Platform
Calgary, Alberta: Credit App Technologies Inc. (“ CreditApp ”), a fintech company dedicated to transforming the consumer financing industry, announced today the successful completion of its $2.7 million funding round. The investment, led by Inovia Capital and supported by existing investors including CEO Marcos Lopez, Chairman Mike Broadfoot, Founder Evan Ferguson and Polar Venture Partners, will drive the commercialization of its innovative software platform.
CreditApp has developed an indirect lending platform that integrates fraud and income verification tools, enabling lenders to access new lending markets and leverage AI-driven analytics tools in their back offices. The platform's “CreditApp Confidence Score” allows lenders to quickly assess and gain confidence in their applicants.
With this new capital, CreditApp aims to accelerate the market expansion of its products, broaden its reach within the automotive, mortgage, and consumer lending sectors, and continue to enhance its technology platform. By leveraging alternative data, CreditApp is creating unparalleled efficiencies in lending processes that will change the consumer financing landscape of Canada.
"We're thrilled to welcome Inovia on our journey to launch a new embedded finance platform in Canada. Our innovative technology will empower lenders across auto, mortgage, and other consumer lending sectors to use alternative data and our CreditApp Confidence Score for greater efficiency and fraud mitigation," said Marcos Lopez, CEO of CreditApp.
"The personal vehicle ownership experience is the second largest financial consideration in Canadians’ lives - and is ripe for disruption - Marcos and Evan bring that classic combination of insight, experience and passion to enable the industry at the perfect time, and I’m delighted to bring team Inovia to support the in building CreditApp to be a new generation leader.” - Shawn Abbot, Inovia Capital.
To learn more about CreditApp and its innovative solutions for consumer financing, visit our website at creditapp.ca.
About Credit App Technologies
Credit App Technologies Inc. is a Calgary-based fintech startup focused on transforming the automotive financing industry. By leveraging advanced technology and data analytics, the company provides a seamless and efficient loan application process for lenders and car dealers. Funded by Alberta Business Leaders and Inovia Capital, Credit App Technologies is dedicated to driving innovation and delivering exceptional value to its clients. For more information, visit creditapp.ca.
