TORONTO, Ontario — Propel Holdings Inc. (“Propel”), a leading financial technology company established in 2011, announced the completion of a US$15M Series B preferred equity financing led by US-based investment firm Raptor Group (Raptor Holdco GP LLC).
This is the first equity raise for Propel since an initial financing in 2011. The proceeds of the financing will support Propel’s growth as it expands its product and service offerings and continues to support consumers on their credit journeys.
Propel is an online financial technology company headquartered in Toronto, Ontario, Canada. Through its operating brands, MoneyKey and CreditFresh, Propel offers a variety of credit products and services to a vast US consumer market whose credit needs remain unmet by traditional banks. Offering a combination of direct loans and credit services for loans offered by FDIC-insured state chartered bank lending partners, Propel’s purpose is to facilitate access to credit for everyday consumers, helping them move forward through their credit journeys.