Quebec Loans: Federated Lenders

Financial loan comparison page

Growth 352%

Turnover between 2 and 5 million

Employees 10

The main office Montreal

pcott Satov could have taken it easy after selling his stake in Versapay, the payment processing company he co-founded. But no. Instead, he decided to invest hundreds of thousands of dollars in what has become one of Canada’s leading platforms for comparing credit products.

When it started in 2012, Prêts Québec (Loans Canada in the rest of the country) was a lending platform that Scott Satov funded with his own money. Then, when lenders agreed to work with him, he specialized in referencing. His company is now associated with around fifty partners who offer personal loans, but also car loans and mortgages. It generates 80% of its revenue outside of Quebec.

The person looking for a loan submits their application online in a few minutes and is then directed to the lenders who have the best offers corresponding to their risk profile. They pay Prêts Québec in exchange for the referral. From September 2022, users can also view their credit score for free, provided they register.

The company estimates that nearly two million Canadians have used their services over the past 10 years. Like its few competitors, the platform mainly attracts people with a problematic credit file – the interest rates offered range from 2.99% to 46.96% – but all types of borrowers are welcome. “We want to be number one in Canada,” says the big boss.

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