TORONTO, Jan. 29, 2020 (GLOBE NEWSWIRE) -- goPeer announced today that it has received its registration as an exempt market dealer in Ontario and Québec. This marks an important milestone, as goPeer becomes Canada’s first regulated peer-to-peer lending platform for consumer loans.
By cutting banks and other intermediaries out of consumer lending, goPeer connects credit-worthy Canadians with eligible investors, resulting in better rates for borrowers and lenders alike.
“goPeer is on a mission to improve Canadians’ financial well-being by eliminating market inefficiencies and increasing transparency in the consumer lending process,” says Marc-Antoine Caya, CEO of goPeer. “Automating the archaic and laborious loan underwriting process and investor compliance requirements allows goPeer to deliver a seamless experience and better rates to its members.”
Qualified consumers borrow through goPeer to lower the cost of their credit and enjoy a better end-to-end experience than that provided by traditional lenders. The capital to fund loans comes from individual Canadians seeking to invest in a previously inaccessible asset class with attractive risk-adjusted returns. Individual lenders can lend as little as $10 per loan and earn monthly repayments of capital and interest.
Caya added, “financial disintermediation offers a unique value proposition to Canadians: half of Canadians surveyed would prefer the interest paid on their loan to benefit a peer rather than a bank. goPeer facilitates this while maintaining the highest professional standards. As a registered firm, goPeer must, amongst other things, comply with securities laws, maintain an effective compliance system and meet prescribed financial reporting, working capital, insurance and bonding requirements.”
Join now to receive early access
To become a lender or borrower and receive early access to the goPeer platform, sign up here (https://goPeer.ca/coming-soon).
About goPeer
goPeer is a Canadian financial wellness company that makes responsible lending accessible to everyone. Our technology disrupts the traditional lending model and enables us to help individuals take control of their finances. goPeer is able to offer better rates to borrowers than traditional lenders while allowing everyday Canadian investors to access a previously inaccessible asset class.
For more information on goPeer, visit www.goPeer.ca and find goPeer on Twitter, Facebook, LinkedIn, and Instagram.
For further information: Joseph Buaron, media@gopeer.ca, 647-264-8202