Andrew Graham, Co-founder & CEO
Dec 10, 2019
Borrowell launches Boost, Canada’s first bill-tracker and predictive advance.
Since our founding in 2014, Borrowell has grown to over a million users by listening to the needs of Canadians. Today, we're thrilled to announce the launch of Boost, a suite of digital tools to help track, manage and pay bills on time to improve financial health.
Late or missed bill payments are one of the leading factors impacting credit scores, determining a whopping 35% of an Equifax credit score. According to a recent study, the number of households missing or paying bills late has increased by 50% over the past two years. We strive to provide Canadians with the tools they need to improve their financial health. Our members told us they were struggling to track and pay bills, so we worked to be the first to offer them a solution, Boost.
Borrowell Boost securely links to a member’s existing bank account, allowing them to track their bills and notifying them of upcoming due dates. Predictive technology then determines the likelihood of insufficient funds and offers an interest-free advance - or ‘boost’ - to prevent non-sufficient funds (NSF) fees and help safeguard a member’s credit score.
Currently in beta testing, Borrowell Boost will be widely available in early 2020 on the Borrowell mobile app for a small monthly subscription. Sign up to join our waitlist.
Not a member? Get started right away by signing-up or downloading the Borrowell App to get your free credit score and access to a wealth of financial tools.
Launched earlier this year, our free app makes it easier than ever to improve your financial health on the go. Available on iOS and Android, get real-time access to your credit score and financial product recommendations to help improve your credit score.
Borrowell helps people make great decisions about credit. With its free credit score and report monitoring, automated credit coaching tools and AI-driven financial product recommendations, Borrowell empowers consumers to improve their financial well-being and be the hero of their credit. Borrowell is one of Canada’s largest financial technology companies, with more than one million members. Borrowell has received significant recognition, including being named 4th fastest growing technology company in the Deloitte Fast50 (2019); Inclusion in the Fintech 100, a list of the top 100 fintech companies globally; Fintech of the Year (2018) at the Canadian Fintech and AI Awards.
Borrowell is recognized as a leader in diversity and inclusion. Unusual for a tech startup, 50% of the employees identify as women. Borrowell was named a “Best Place to Work” in Canada, as well as a Best Place to Work for Women, Mental Wellness, Millennials, and in Financial Services and Insurance.
We’re thrilled to launch Boost and share it with our members. In the meantime, you can sign up for our waitlist today.
Borrowell® is a registered trademark of Borrowell Inc. All Rights Reserved. The Equifax credit score is based on Equifax’s proprietary model and may not be the same score used by third parties to determine your credit profile. The score provided to you for educational use is the Equifax Risk Score.
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