Even Financial, the category-leading embedded finance marketplace, and LoansCanada.ca, the leading loan comparison site in Canada, have announced a strategic partnership to help Canadian borrowers find optimal loans and credit solutions.
“As the online financial services ecosystem continues to grow rapidly in both the US and Canada, the infrastructure for financial services providers to distribute their products digitally remains fractured and a bottleneck to growth,” said Phill Rosen, Founder and CEO of Even Financial. “With this in mind, we’re thrilled to partner with Loans Canada, which plays a critical role in connecting Canadian consumers to the financial products they need.”
Founded in 2014, Even digitally connects and matches consumers with real-time, personalized financial product recommendations from banks, insurance carriers, and fintech companies, on mobile apps, websites, and other digital touchpoints through its marketplace technology. Even’s infrastructure leverages machine learning and advanced data science to solve a significant pain point in financial services customer acquisition, seamlessly bridging financial services providers (such as SoFi) and channel partners (such as TransUnion) via its industry-leading API and embedded finance marketplaces. Even enables any company to add financial products to its business, with full compliance and security at scale.
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As Canada’s leading loan comparison platform, Loans Canada connects Canadian consumers, regardless of their financial past or credit history, with a lender or service provider that meets their needs. Loans Canada’s platform offers a variety of consumer credit products including personal loans, automobile loans, mortgages, debt management and credit improvement services. In addition to providing consumers with greater access to alternative financing options, Loans Canada aims to educate consumers through its rich financial literacy content, including an extensive library of resources on debt, credit, budgeting, and financial wellness.
As strategic partners, Even and Loans Canada will leverage the reach of their two industry-leading platforms to make it easier for Canadian consumers to search for and be matched with personalized loan offers that are best suited to their unique needs.
“We are excited to partner with Even, a leading financial services recommendation engine. Together we can better serve consumers on their journey to find better and more affordable financing” said Scott Satov, Loans Canada CEO.
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Even continued its rapid growth trajectory in 2021, surpassing $4 billion in credit matched through its API. It was named one of “America’s Best Startup Employers” by Forbes for 2021 and was named to the Deloitte Technology Fast 500 list for a second consecutive year. Even’s growing network includes over 400 financial services providers and 500 channel partners, covering a breadth of financial services including loans, credit cards, mortgages, savings, and insurance products.
On December 17, 2021, Even announced it will be acquired by MoneyLion, an award-winning mobile banking and financial membership platform that empowers people to take control of their finances. The acquisition accelerates MoneyLion’s mission of providing comprehensive financial access and advice to hard-working Americans.
With the goal of improving its customer experience, Loans Canada launched its first call center this year. Loans Canada’s affiliate program continues to be the monetization platform of choice for personal finance platforms and publishers across Canada. Loans Canada’s month-over-month application volume has nearly doubled over the past 18 months, and the company reported record revenue with 450% growth over the same period. Since the launch of its Financial Literacy Scholarship last year, Loans Canada is proud to announce four formidable students have been presented with the award so far.
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