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Be the first with the news that moves the market- Financial technology company, Lendified Holdings (TSXV:LHI) has begun trading its common shares on the TSX Venture Exchange
- The company operates an online lending platform, providing loans to small and medium-sized businesses in Canada
- Since operations began, Lendified has processed over C$500 million in loan applications, and loaned nearly $100 million to Canadian enterprises
- The company is trading on the TSXV under the ticker code LHI
- Lendified Holdings (LHI) is holding steady at $0.20 per share
Financial technology company, Lendified Holdings (TSXV:LHI) has begun trading its common shares on the TSX Venture Exchange.
The company started trading on the Venture Exchange yesterday, under the ticker code “LHI”.
As a fintech business, Lendified operates an online lending platform. Through it, the company provides working capital loans to small and medium-sized businesses in Canada.
Lendified’s main product offering is short-term instalment loans of up to C$150,000. The loans for small businesses typically have terms of up to two years.
The company will not dispense its funds until it obtains approval and other necessary related checks. It collects repayments under a pre-authorised debit agreement.
Since its operations began, Lendified has processed over $500 million in loan applications. In its time, the company has loaned just under $100 million to thousands of Canadian enterprises.
Lendified also has a subsidiary, JUDI.AI, an adjudication platform which offers software-as-a-service technology. The business provides financial institutions and non-traditional lenders with AI-enabled credit origination and analytics.
JUDI.AI’s proprietary credit engine takes information from multiple sources, and applies data analytics to what is collected. This results in standardised financial analysis and insights which can be very useful to clients.
Lendified’s co-founder and CEO, Troy Wright, commented on the company’s new listing.
“We are excited to have launched on the TSXV, opening the opportunity to investors to participate in the growing trend of businesses seeking online loans.
“We believe that this trend will continue to accelerate given the current climate and we’re ready to support small and medium business in Canada,” he said.
Lendified Holdings (LHI) is holding steady at $0.20 per share at 1:33pm EDT.
