Progressa secures Series B financing

Ted Liu

Progressa, a Vancouver based financial technology company, has raised additional funding in Series B financing.

Progressa, [mepr-active rule=”374″ ifallowed=”hide”]Subscriber ONLY content: read our research and get insight on this and other deals. We offer monthly or yearly recurring or one-time trial subscriptions. Subscribe today and see what you have been missing! [/mepr-active][mepr-active rule=”374″]the operating name of Creditloans Canada Financing Inc., has raised $2.275 million since April 2017 through the issuance of 127.5 Class B Preferred Shares at $10.00 per Preferred Share and 177,936 common shares at $5.62 per common shares. Two Ontario investors subscribed all common shares for $1 million. Nine BC, six Ontario and one Alberta investors invested in the Preferred Shares financing. Miller Thomson LLP acts as legal counsel to Progressa.[/mepr-active]

Progressa is focused on helping sub-prime and near-prime Canadians seeking to improve their financial health. “At Progressa, we help Canadians improve their financial future by providing a second chance at credit. We read between the lines to see your potential, and help build your loan and financial future to help you succeed. This means consolidating your outstanding debt, resolving overdue bills and getting you back on track financially. With the right loan from Progressa, you can rebuild your life, your way.”

In December 2015, Progressa announced the closing of $11.4 million Series A equity and debt financing round led by Cypress Hills Partners and family office Conconi Growth Partners.

photo credit: Progressa