Lendful is a Vancouver consumer lending marketplace that uses a lending algorithm which leverages social data points to assess and rate potential customers. The company announced a C$15 million investment from Alterna Bank and has previously received undisclosed investments from Stanley Park Ventures and Ferst Capital Partners. The funding is intended to enable Lendful to provide more loans and to offer better security and more competitive rates for customers. Lendful plans to release data derived from its algorithm soon, with Alterna helping to parse and validate those results. The partnership with Alterna is also positioned to lend credibility and guidance as Lendful competes with other consumer lending platforms. Since approving its first loan in September 2015, Lendful has seen C$20 million in loan applications.

Total raised

$11M

Funding rounds

1

Latest round

Equity

Latest activity

Jan 2016