Borrowell, FinanceIt, Mogo, RentMoola & TouchBistro

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Check out the August 2016 edition of the Fintech Five.

PayPal gives people better ways to connect to their money and to each other, helping them safely access and move their money and offering a choice of how they would like to pay or be paid.

The Fintech Five powered by PayPal profiles five of the hottest and most promising financial technology companies across Canada each month. The list is curated by Techvibes editorial staff and reflects who is making waves in our nation’s fintech ecosystem right now.



Since the dawn of time, Canadians have had to pay just to view their credit scores. No longer—financial technology startup Borrowell has given Canadians the ability to view their scores for free.

Borrowell’s latest service gives Canadians access to their Equifax credit score for free using a simple online form. The no-obligation service allows consumers to learn about their financial well being without having to apply for credit. Borrowell will also provide consumers with an updated score every three months, allowing them to track their progress.



Toronto’s Financeit recently launched Financeit Direct, a direct-to-consumer financing platform. While point-of-sale financing has traditionally been a complicated and paperwork-heavy process only accessible to large merchants, Financeit Direct is mobile-enabled and fully paperless.

With Financeit Direct, service providers retain control of the sale but can invite their customers by email or text to participate in the application anytime, anywhere.



This month Mogo announced the launch of its new MogoAccount. With the MogoAccount there’s no need to visit a branch and then wait days for the account to open—this all happens in just a few minutes. And consumers do not need to switch banks because MogoAccount is designed to work alongside their current bank account, providing value and utility they aren’t getting from their bank or credit union, for free.

A MogoAccount gives consumers instant access to their credit score for free with monthly updates, as well as a spending account with no monthly fee and pre-approval on a personal loan for those who need credit.



RentMoola is changing the landscape of paying rent all over the world and recently beat out over 100 companies to win Startup of the Year at Metabridge.

Solving the age-old problem that paying and collecting rent is a major hassle, RentMoola is an online global payment network that allows tenants and owners to pay rent and other payments by credit or debit card while earning rewards. Members have access to the MoolaPerks program which provides exclusive deals to travel, lifestyle, home services and other rewards redeemable across North America, UK and Europe.



With offices in New York and Toronto, TouchBistro is a leader in iPad point-of-sale technology for restaurants, cafes, bars, and food trucks. TouchBistro’s iPad POS solution that is designed to work as the heart of a restaurant or bar, significantly increasing efficiencies and the overall customer experience.

This week TouchBistro announced its integration with mobile payment processing leader Square. With the integration, restaurateurs using TouchBistro can expand their capabilities to include all the services Square can offer – whether payment processing, accepting Apple Pay, depositing their money instantly, or accessing a loan through Square Capital.

With PayPal‘s 184 million active customer accounts globally and 6.4 million in Canada, we have created an open and secure payments ecosystem that people and businesses choose to securely transact with each other online, in stores and on mobile devices. 

Want to be a part of the next Fintech Five? This list isn’t something you can apply for, but make a splash and you’re certain to get on our radar. 

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