For this edition of FinanciElle “Statements”, I had the opportunity to interview Eva Wong, Co-Founder and Coo of Borrowell.
Borrowell helps Canadians make great decisions about credit.
With its free credit score and report monitoring, personal loans, and financial product recommendations, Borrowell empowers Canadians to improve their financial well-being and be the hero of their credit.
It was the first company in Canada to offer credit scores for free and has over 400,000 free credit score members. Borrowell also created Canada’s quickest and easiest personal loan, at rates typically far better than credit cards. Borrowell has a ground-breaking partnership with CIBC, one of North America’s largest banks, to offer a ‘one-click’ loan and free credit scores to their customers.
Borrowell has received significant recognition, including being named to the Fintech 100, a list of the top 100 fintech companies globally compiled by KPMG, and a “Company-to-Watch” by the Deloitte Technology Fast50 program.
Paolina: What has been your hardest experience dealing with your business and finance and what did you learn?
Learning what I like to call “start-up math” – fundraising, options, dilution, valuation. There’s a whole new language I never learned in business school!
Paolina: What advice do you wish you had gotten about finance when you were first starting your business?
Take the money when you can get the money! I think I did get that advice, but you don’t believe it until you’ve lived it. Markets are fickle and you never know what the next 12-24 months will bring.
Paolina: What topics would you want to learn more about when it comes to finance and your business and why?
I’d still like to learn more about the funding and investment side of a high-growth start-up. I think people learn anything if they really want to and devote the time to it.
Eva was selected as one of the 40 women in Canadian tech worth following in 2017 by Betakit and made the 2017 Women in Fintech Powerlist. To learn more about Eva and Borrowell, listen to this interview from the Business Leadership Podcast.