U.S. Markets closed

Home Capital Group Inc. and Lendified Holdings Inc. Announce Strategic Investment

TORONTO--(BUSINESS WIRE)--

Home Capital Group Inc. (“Home Capital” or “the Company”) (HCG.TO) and Lendified Holdings Inc. (“Lendified”) are pleased to announce the closing of a $3,000,000 strategic investment in Lendified by Home Capital. Together, Lendified and Home Capital are leveraging their strengths in mortgage and credit adjudication and underwriting to support the growth of small business in Canada.

“Home Capital is well-positioned to serve the self-employed borrower,” affirmed Benjy Katchen, Executive Vice President and Chief Digital and Strategy Officer at Home Capital. “Our investment in Lendified will help us deliver on our objectives of empowering the growth of independent business owners and creating innovative digital banking solutions for our customers and partners.”

Troy Wright, CEO of Lendified, commented: “Lendified has been working with Home Capital for a number of years on several key initiatives and this investment reflects the significant relationship that exists between the two organizations and the opportunities going forward. We are very excited to be positioning this collaboration for the future.”

About Lendified: Lendified is a leading Canadian financial technology company founded by former bank executives. The company offers online loans to small businesses across Canada and a SaaS credit platform to financial institutions across North America. Lendified’s innovative technology has been featured by The Globe and Mail, Financial Post, Bloomberg, Toronto Star and more. For more information, visit www.Lendified.com (lending) and www.Judi.ai (SaaS platform).

About Home Capital: Home Capital Group Inc. is a public company, traded on the Toronto Stock Exchange (HCG), operating through its principal subsidiary, Home Trust Company. Home Trust is a federally regulated trust company offering residential and non-residential mortgage lending, securitization of insured residential mortgage products, consumer lending and credit card services. In addition, Home Trust offers deposits via brokers and financial planners, and through a direct to consumer deposit brand, Oaken Financial. Home Trust also conducts business through its wholly owned subsidiary, Home Bank. Licensed to conduct business across Canada, we have offices in Ontario, Alberta, British Columbia, Nova Scotia, Quebec and Manitoba.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190530005494/en/