Peoples Trust buys Lendful

Source: Peoples Trust Company

Peoples Trust Company has added consumer lending to their product suite with the acquisition of Lendful Financial Inc., a local innovator whose technology complements the financial products offered for more than 30-years in Canada.

“We’re excited to welcome Lendful to Peoples Group of Companies,” said Grant MacKenzie, CEO. “Strategically, Lendful fits our entrepreneurial culture very well as they are lean, innovative and growing. FinTech and digital adoption rates continue to increase in our core target markets. We believe it makes perfect sense to develop an offering that reflects our customer’s online borrowing needs. Being digital is the future for us at Peoples Group and acquiring Lendful contributes to our position as a leader in what we do - provide access to financial products within select markets.”

Lendful’s founder Alex Benjamin said, “This is a great outcome for our customers and partners. Joining Peoples Group means we can further improve what we already do well - offer a 100% online and frictionless borrowing experience to creditworthy Canadians who manage their finances digitally. It will allow us to service our growing customer base nationally with offices in Vancouver, Calgary, Toronto and Montreal.”

Peoples Group’s mission is to exceed customers’ expectation by providing access to financial products within select markets. With the acquisition of Lendful, they can now offer borrowers a faster decision and easier access to capital to help them manage their lives and personal finances.

By adding Lendful’s innovative, digital consumer lending, Peoples Group endeavours to improve the borrowing experience for Canadians. 

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