goPeer, Canada's Leading Consumer Peer-To-Peer Lending Platform, Announces Double Digit Returns for Customers
Completes historic first year amid rapid growth and increasing demand, hires new CMO
Toronto, Ontario--(Newsfile Corp. - March 16, 2022) - goPeer, a leading private investment platform that is the first of its kind to successfully bring consumer peer-to-peer lending to Canadians, announced a company milestone of receiving more than $100M in loan applications since the beginning of 2021. In this short and transformative time, the Toronto-based startup delivered average annualized net returns of 10.1 per cent to investors on the goPeer platform, which is more than three times the returns reported by the S&P Canada High Yield Corporate Bond Index during the same period1.
Over 25,000 Canadian investors and borrowers have joined the goPeer platform, a growth rate of 400 per cent since the beginning of 2021, demonstrating the increasing demand for alternative lending solutions to help bring innovative, high-return investment opportunities to Canadians.
This achievement comes on the heels of a $1.25M pre-seed funding round. The raise, which was completed in the summer of 2021, was led by Bulldog Capital Partners and Random Occurrence, and included an investment from the Ontario Centre of Innovation (OCI). The proceeds from the funding round were used to invest in further product development, to grow goPeer's user base of on-platform borrowers and investors, and to invest in new talent acquisition and retention within goPeer.
"OCI is always thrilled to invest in leading-edge technology made-in-Ontario platforms. When we met goPeer's CEO, Marc, it was clear to us that there was a large addressable market for goPeer's solution, and we were keen to support Marc and his team through OCI's Market Readiness Co-Investment Fund. goPeer is making an impact in the fintech sector and this is a very significant and exciting milestone for the company," said Balinder Rai, Business Development Team Lead, Ontario Centre of Innovation.
"Thousands of savvy Canadians use goPeer to invest in consumer loans. They enjoy the benefits of portfolio diversification and earn solid risk-adjusted returns on their investments," said Marc-Antoine Caya, goPeer's CEO. "Right now, we see a massive opportunity to democratize private capital markets and hear repeatedly from our clients that they are looking for more opportunities to diversify their investment portfolio. We're honoured to bring these new financial opportunities to the market while helping to better the financial wellness of Canadians."
goPeer connects Canadians in need of a loan with Canadians looking to invest. By disrupting the traditional lending model, goPeer's forward-thinking financial platform offers everyday investors the opportunity to access an asset class in a way that was previously reserved for large financial institutions. It also provides Canadian borrowers access to money at affordable rates, offering a new way to refinance debts or pay off high-interest credit cards. Comprehensive credit checks and full regulatory compliance is adhered to with each loan, ensuring protection for both borrowers and investors.
Rapid growth has led goPeer to expand its leadership team, with the recruitment of Roshni Wijayasinha as Chief Marketing Officer. Wijayasinha joins existing CEO and Co-founder Marc-Antoine Caya and CTO and Co-founder Joseph Buaron. In her new role, Wijayasinha will oversee the marketing strategy while scaling the marketing infrastructure and team.
goPeer is a Toronto-based financial technology company that connects modern investors with credit-worthy Canadians looking for a loan. Their marketplace uses technology to eliminate inefficiencies in the consumer lending process, resulting in better rates for borrowers, while offering investors access to a high-yield asset class. For more information, please visit www.gopeer.ca
1The information contained in this communication, including goPeer's stated average net returns to its investors, should not be relied upon by potential investors to make an investment decision in goPeer or by investors that have already invested in goPeer to further invest in goPeer or change their investment in goPeer. This communication is intended for marketing and general information purposes only. Investors choosing to invest money or that have already invested in goPeer should refer to Peer Capital Corporation's Offering Memorandum (available at gopeer.ca) which contains information regarding goPeer's risk-adjusted net returns offered to investors, which may differ from the information set forth in this communication. The content of this communication is entirely subject to goPeer's Offering Memorandum. Investing with goPeer is risky and investors should seek professional advice (including tax, legal, accounting and financial) as they deem necessary before investing in goPeer.
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