Why we're doing this - OUR THESIS
There are over 11M Canadians who are credit-invisible. When someone is credit-invisible, they are treated like a second-class citizen by banks, by financial institutions and by society. When people don't have a credit score or has a credit score that is not representative of who they are (e.g. mistakes, identity theft, a small missed payment 10 years ago) their entire integrity gets put in question by the credit system.
We believe that this system of reducing humans into a single score is flawed. The system only look at your past repayments and collections. Someone with a blank slate is scored as bad. Someone who had their identity stolen is brushed off as a bad customer. And someone who forgot to repay 1 bill, 5 years ago, is also deemed undesirable. Furthermore, the credit score system fails to take into account of your context, your income and your spending habits.
This disproportionately impacts financially marginalized groups, young people, immigrants and even people who never got a credit card. Under the current system, they'll have trouble getting any credit product and often time need to get mortgage insurance, co-signers, etc.
OUR VISION - A global "credit passport" for all
Our vision is to create a "credit passport" for everyone worldwide, regardless of nationality, race or social economical situation. We believe in democratizing access to the credit system and erasing credit borders for all.
Whether you are an immigrant, a digital nomad, or simply someone who never had a chance to get a credit card, you deserve to get credit based on your income, bank balance and spending habits, regardless of where you are located.
Not only do we want to help people access credit, we also want to help people build their credit history in the most frictionless way. We're working on building an more accessible credit-system on-ramp.
As a Canadian company, we are first starting with Canada where we believe we can make the biggest impact.
However, we have plans to expand globally so that one day, everyone may enjoy our services, regardless of their location.
