Borrowell provides Canadian consumers with a free, weekly‑updated Equifax credit score and full credit report via a secure web and mobile platform. The service uses soft‑pull checks and an AI‑driven recommendation engine to deliver personalized loan, credit‑card and mortgage offers from over 75 partners, along with credit‑education content and alerts. Revenue is generated from referral fees when users accept recommended financial products.
Funding
Funding not disclosed
Founders
Product
Problem
Many Canadians lack convenient, cost‑free access to their credit scores and reports, making it difficult to monitor credit health, identify factors affecting their score, and discover suitable financial products without incurring hard credit inquiries or paying for premium services.
Solution
Borrowell offers a cloud‑based platform that provides users with a free, weekly‑updated Equifax credit score and full credit report. The service uses a recommendation engine to analyze the user's credit profile and deliver personalized credit‑improvement tips, educational articles, and product matches from over 75 partnered lenders. All interactions are performed via soft inquiries, so checking the score does not affect the user's credit rating. Users can access the dashboard through a web portal or mobile app, where they can track score trends, receive alerts about changes, and apply for loans, credit cards, or mortgages with pre‑qualified approval odds.
Target Audience
The primary customers are Canadian consumers aged 18 + who want to monitor and improve their credit health and receive tailored recommendations for loans, credit cards, mortgages, or other credit products.
Features
- Free weekly retrieval of the Equifax Risk Score 2.0 and downloadable credit report via secure API calls.
- 256‑bit SSL encryption and role‑based access controls to protect personal data.
- AI‑driven recommendation engine that matches the user's credit profile to personalized loan, credit‑card, and mortgage offers from 75+ financial partners.
- Soft‑pull eligibility checks that display likelihood of approval without generating hard inquiries.
- Automated credit‑education feed delivering tailored tips, articles, and factor‑by‑factor score explanations.
- Mobile app with push notifications for score changes, payment reminders, and one‑click application to partner offers.
- Integrated tools such as mortgage calculators, rent‑payment reporting, and a credit‑builder loan that report to Equifax to improve credit mix.
- Dashboard analytics showing score trends, factor impact visualizations, and alerts for potential errors or fraud.