07 Dec Spotlight on…Grow
This week’s Spotlight on Tech is focused on Grow (formerly Grouplend), a financial services company leveraging the power of cutting-edge technology and data science to revolutionize banking and improve the financial well-being of Canadians.
1. Describe your company and your primary product(s) and/or service(s).
Today, our primary service is online consumer lending. Our no-fee personal loans are the quickest, most convenient and affordable way for Canadians to save money compared to expensive credit cards and other high interest options. We’ve built algorithms that analyze thousands of data points instantaneously to tailor an interest rate that’s personalized to your individual creditworthiness. It only takes one minute to apply, and your loan will be in your bank account by the next business day.
RateTracker, our most recently released product, monitors your unique credit metrics — like your credit score, debt to income levels, and various other data points — and emails or texts an updated personalized interest rate to you every single month, so you know exactly what you should be paying to access credit. RateTracker allows you to stay on top of your financial health by showing you exactly what you should be paying for unsecured credit while also providing you information about why your interest rate is going up or down. This first-of-its-kind product doesn’t affect your credit score, and it’s completely free to use.
2. How many employees currently work at your company?
16 of Canada’s best and brightest minds are currently working for Grow. We are looking to expand quickly; we’ll be doubling the size our team by the end of 2016.
3. Where are you located?
If you’re reading this after January 1st, we have just recently moved to our new office on the 16th floor of the Bower Building II at 570 Granville St, right across Pacific Centre. There is ample paid parking nearby, and the office is highly accessible by transit, right across the street from the Granville Street station. If you’re reading this before January 1st, we are all currently crammed in a small box at Richards and Hastings. Startups, right?
4. Describe the culture at your company.
Grow embodies a work hard, play hard attitude sewn together with a passion to deliver Canadians a best-in-class financial services experience. We don’t stop until the job is done but also take the time to relax and celebrate with weekly beer pong tournaments, as well as all the delicious food and amazing amenities that downtown Vancouver has to offer.
5. What does your leadership team (and company as a whole) do to support/grow that culture?
In order to support a culture of continual learning and growth, Grow offers lunch n’ learns every Friday for its employees, as well as reimbursement for any online courses or tools that they need for self improvement.We have a flat organization that allows for each individual to have a direct impact on the company, and give input into our new projects. This allows for collaboration to drive change and push each other to continue to innovate on all facets of the business.
6. When your employees talk about your company, what do they brag about?
Good question – We did a quick poll of the office and here’s the feedback:
“I work at a startup with an incredibly dynamic and super intelligent group of people. we offer low interest rate loans”
“We’re solving a real problem that is helping Canadians. I’m proud of the value we deliver to our customers”
“This morning I’ve already helped four people save thousands of dollars on their credit card debt, and now get to eat jelly beans by our festivus pole”
“I get to do things that are cool, like design socks and shirts”
“I’m learning new skills and am a part of a team that is pushing the envelope in financial technologies”
“Fun team. Also, I like that we have craft beer”
“Today’s my first day. I think I’ve made a huge mistake”
“I like working with smart and energetic people”
“Every week I have something new to show them and demonstrate the pace at which we are able innovate”
“I like to brag about how only a handful of people are making such a huge impact in the Canadian banking space”
“Before we scaled up, I like to brag about how our CCO, who previously had hundreds of people working under him at a bank, was my backup on our live chat.”
“Over 40% of our borrowers are funded on the same day they first visit our website”
7. Describe your most recent achievement, milestone, reason for bragging rights.
Most recently, we’ve successfully rebranded our company to Grow from Grouplend in order to better reflect the direction that our company is headed. We also launched our latest product, RateTracker, a first-of-it’s kind innovation that allows subscribers to take ultimate control their finances. All of this was possible with our recent financing of $10.2 million in August, lead by Markus Frind, founder of PlentyOfFish, and Lance Tracey, PEER 1 Hosting, which was one of the largest seed rounds ever raised by a Canadian startup.
8. What kinds of roles are you looking for?
We are currently hiring for 2 positions:
For more information on jobs at Grow, visit our careers page.
9. What kind of people are you looking for?
We are looking for energetic, passionate, and hardworking people who want to make a positive impact on the financial lives of Canadians. As we are in the early stages of a rapidly growing company, our employees have the freedom and autonomy to wear many different hats, and are encouraged to work on anything that they believe will help Grow, well, grow. Potential new employees must have a passion for tech, finance, and not be allergic to dogs.
10. What is your company goal for the coming year?
Constant innovation. We will continue to enhance our current products, and release new products in the financial space to deliver unparalleled transparency to the Canadian consumer. We will continue our relentless determination to push the status quo with new products to better improve Canadians personal financial health.
We also have a few other goals:
To learn more about Grow, visit them online at www.poweredbygrow.com
If you’d like us to shine the spotlight on your company, email email@example.com today!