QuadFi, a mission driven global fintech firm headquartered in Canada, entered into an agreement for a new financing facility of up to US$100 million (CAD $127M) with Crayhill Capital Management, a New York-based minority-owned private credit manager. The facility will be used by QuadFi to provide personal loans to people with limited credit history, but with a strong current income and a bright financial outlook, including young people and immigrants.

Unlike traditional risk rating models which rely only on the historical behavior and income of customers, QuadFi's novel and adaptive underwriting model is forward-looking and considers a customer's future income and career trajectory. This innovative model is especially useful for customers with thin credit history but bright prospects, mainly newcomers, and younger demographic groups.

Further, the company offers immigrants the benefit of utilizing their home country financial history even after having left. Dr. Manny Nikjoo, Co-Founder and CEO of QuadFi noted, "Canada welcomes 400,000 new immigrants every year – and they deserve access to fair and affordable financial products. Our model incorporates credit data from their home countries, alternative data and open banking to provide accurate underwriting and deliver financial inclusion today. This partnership allows us to take a big step toward achieving our long-term pursuit of fostering financial inclusion and helping our customers, who are young, ambitious and educated, achieve the financial access they deserve. Crayhill understands our objectives, and now we have the runway to accelerate our growth, which will have benefits for our customers, investors, and communities," said Dr. Nikjoo. He added, "Our data-driven approach to lending was created to replace the outdated financial practices that currently lead to inequality of access to financial products for all groups."

quadfi.com