PADS Financial secures $3M pre-seed funding

CPE News

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CPE News (10.5.2023) – PADS Financial has raised $3 million in pre-seed funding from “leaders in the Quebec Real Estate market”

Led by co-founder and CTO Stephane Perez and Managing Director Levi Wizman, PADS is a Canadian online mortgage origination and servicing platform that introduces a new level of transparency and structure to the private lending market. By leveraging advanced technology and maintaining a customer-focused approach, PADS offers competitive rates, flexible terms, and a trust-centered experience to homeowners, brokers, and investors across Canada.

photo credit: PADS Financial

News Release

PADS Financial, a new online lending platform, secures $3 million in pre-seed funding

MONTREAL, Oct. 5, 2023 /CNW/ – PADS Financial, a Montreal-based Fintech startup, announces the launch of PADS, its online platform for first and second rank mortgage origination and servicing.

The initial round of financing of $3 million was raised from leaders in the Quebec Real Estate market indicating a strong vote of confidence for the Montreal based startup.

For Borrowers:
PADS Financial re-engineers the traditional mortgage application process, bringing it entirely online and making it faster and simpler. Through the PADS online portal users can apply for a home equity loan, easily track their application status, get approved, manage their funds, and access other essential features, all within a clear and user-friendly interface.

Through its advanced and unique underwriting models, PADS is also poised to approve individuals underserved in the current banking landscape.

“Early on we noticed a gap in the lending industry and identified an opportunity to craft solutions to help new immigrants and Canadian homeowners leverage their equity to obtain loans and build or rebuild their credit,” says PADS CO-Founder and Tech Entrepreneur Stephane Perez. He continued, “They were underserved, and the situation has only gotten more urgent with the rapid rise of interest rates.”

For industry professionals:
In addition to serving borrowers directly, PADS has designed a platform for independent private lenders, real estate and mortgage brokers. The PADS broker portal is a dynamic workspace, allowing brokers to manage multiple client applications, initiate submissions, and collaborate with clients. This centralized hub streamlines operations, ensuring brokers remain informed on every application’s status.

For Investors:
PADS presents an exciting opportunity for investors. The platform connects accredited Canadian investors with low-risk, high-yield home equity loan opportunities. It offers a tailored investment experience and seamless portfolio management, enhancing financial growth for both investors and fellow Canadians. With PADS, investors make a tangible difference in people’s lives while achieving their financial goals.

Looking Ahead: Embracing AI and the Decentralized Future
PADS is at the nexus of fintech innovation, with plans to further harness the capabilities of Artificial Intelligence for even more precise and efficient underwriting and lending processes.

As the financial world shifts towards decentralization, PADS is also laying the groundwork for tokenization. By leveraging blockchain, the platform aims to tokenize and sell packages of its revenue-generating home loans to investors. This will permit investors to in turn sell any fraction of their portfolio, effectively creating a secondary marketplace. With these advancements, PADS is set to redefine the boundaries of fintech, blending cutting-edge technology with the evolving demands of the modern financial landscape.

Welcome to PADS—more than just an online lending platform. PADS partners with you on your path to financial freedom. Together, let’s redefine the future of the mortgage industry.

About PADS:
PADS is a Canadian online mortgage origination and servicing platform that introduces a new level of transparency and structure to the private lending market. By leveraging advanced technology and maintaining a customer-focused approach, PADS offers competitive rates, flexible terms, and a trust-centered experience to homeowners, brokers, and investors across Canada. PADS is led by Founder and CTO Stephane Perez and Managing Director Levi Wizman.

For more information or inquiries, please visit https://www.padsfinancial.com or contact us directly at media@padsfinancial.com.

SOURCE PADS Financial