Lendful Financial Inc.

Lendful Financial Inc. provides personal loan solutions for Canadian consumers, focusing on simplifying the borrowing process through an easy-to-use online platform that caters to a diverse clientele. Founded in 2015, Lendful Financial Inc. is based in Vancouver, Canada, specializing in personal loans.

The company has raised USD 15. 00 mn through its latest funding round, which was a VENTURE DEBT round led by Alterna Bank. The most recent deal occurred on June 19, 2018, following a total of 5 deals since its inception. In June 2018, Lendful Financial was acquired by Peoples Trust Company.

Lendful Financial Inc. primarily offered personal loan products aimed at providing straightforward financing solutions for Canadian consumers. They focused on simplifying the borrowing process, allowing access to funds for debt consolidation, home improvements, and unexpected expenses via a user-friendly online platform. Although the company has ceased accepting new loan applications, it previously targeted individuals across various provinces in Canada seeking flexible financial solutions.

Lendful Financial generated its revenue mainly through interest income from personal loans disbursed to consumers. The business model involved facilitating transactions directly to consumers via the company's digital platform, where borrowers would apply for loans, leading to disbursement and repayment. This transaction structure generally included fixed-term loans with predetermined interest rates, allowing customers to repay the principal plus interest over a set period, contributing to stable revenue from its existing client base in the personal lending sector in Canada. As of June 2018, Lendful Financial was acquired by Peoples Trust Company, which may signal future changes in product offerings or market strategies.

However, specific upcoming products, market expansion plans, or how the recent funding will be utilized have not been disclosed, leaving the company's growth strategy somewhat uncertain.