TORONTO, Sept. 01, 2020 (GLOBE NEWSWIRE) -- Modern lending has landed in Canada. goPeer, a financial technology startup, announced today the public launch of their digital lending platform. goPeer connects creditworthy Canadians seeking a loan with people looking to invest, disrupting the traditional lending model through its online marketplace.
“We’re excited to announce the public launch of goPeer’s online platform today. Unlike other platforms, with goPeer you don’t need to be an accredited investor to start investing. We want to democratize lending, and make it accessible to all Canadians,” says CEO Marc-Antoine Caya, “Canadian investors want to diversify their investment portfolio, but are faced with limited options beyond traditional stocks. We are changing that”.
goPeer provides investors with access to consumer loans, an asset class that presents attractive risk adjusted returns and lower duration risk relative to other fixed income investments. Individual investors can lend as little as $10 per loan and earn monthly repayments of capital and interest, just like a bank. The interest rates on unsecured installment loans offered through the platform begin at 7.5% and are generally lower than traditional lenders.
“The response from our users during the early access exceeded our internal projections. In just two weeks, we received over $2.5M in loan applications and hundreds of investors have already joined goPeer. Borrowers are pleased with the simple process to submit their loan request, and how quickly it gets approved. People value the convenience goPeer offers.”, says Caya.
The goPeer platform was purpose built from the ground up, leveraging modern serverless architecture and placing privacy and security at the forefront of every decision. The proprietary technology incorporates machine learning and AI integrations to digitize lending and provide a seamless online experience. “We have condensed a process that traditionally took days into minutes, changing the way people think about borrowing.” says Joseph Buaron, CTO.
“Businesses must consider their impact on society and the environment, especially in an industry that touches so heavily upon the livelihood of individuals, said Caya. As we modernize we must think about the financial wellness and social impact of every decision that we make, and have uniquely positioned goPeer for this purpose. With proceeds from lending going back into the hands of everyday people, we strengthen the economy and make a difference in the lives of Canadians.”
goPeer is a registered Exempt Market Dealer in all Canadian provinces and the only company to be registered with the securities regulators to operate a consumer peer-to-peer lending platform. The service is currently available in all Canadian provinces.
About goPeer
goPeer is a Canadian financial wellness company making responsible lending accessible to everyone. By leveraging technological advances, goPeer is able to offer better rates to borrowers while giving everyday investors (including non-accredited investors) access to an asset class previously only available to large financial institutions. For more information please visit goPeer.ca, email hello@gopeer.ca, or call us directly at 844-960-3090.
Media contact: Joseph Buaron, media@gopeer.ca, 844-960-3090