Four Million Members and 87 Million Points: Borrowell Celebrates a Decade of Helping Canadians Understand and Grow Their Credit
TORONTO, June 1, 2026 /CNW/ - Ten years ago, Borrowell changed the Canadian financial landscape by becoming the first company to offer credit scores for free. Today, the company is celebrating two significant milestones: more than four million Canadians have signed up to Borrowell, and collectively, they have increased their credit scores by over 87 million points.
Since debuting free credit scores in 2016, Borrowell has become Canada's leading personal finance platform. By offering affordable credit-building tools like Credit Builder and pioneering solutions like Rent Advantage, which allows tenants to build credit through rent payments, Borrowell has helped Canadians reshape their financial futures.
"We founded Borrowell because we believed everyone deserves clarity around their finances. We're proud that four million Canadians–one in nine adults–have trusted us to be a part of their financial journey. As a group, our members have grown their scores by 87 million points. This represents real, life-changing progress, whether that means qualifying for better credit cards and loans, buying their first home, or having the peace of mind that comes with financial stability," said Andrew Graham, CEO and Co-Founder of Borrowell.
Progress by the Numbers
Borrowell is celebrating the tangible financial progress of its members:
• Members who joined between 2016 and 2025 have collectively gained over 87,000,000 net credit score points
• Rent Advantage members have seen an average score increase of 32 points within seven months
• Credit Builder members have seen an average score increase of 41 points within five months
Beyond credit scores and credit-building products, Borrowell offers AI-powered recommendations tailored to each member's unique profile. By providing insights on approval chances for financial products, members can apply with confidence and protect their credit.
Celebrating the Community: $25,000 in Prizes
To celebrate, Borrowell is launching a month-long 4-Million Member Giveaway in June with $25,000 in prizes. "Our members' hard work is the real story here," added Graham. "This giveaway is our way of saying thank you and giving back to the community that has made Borrowell Canada's leading credit monitoring and financial marketplace platform."
New and existing members can win daily prizes worth $10 to $300 or a $10,000 cash grand prize by maintaining their regular financial habits. To participate, members can log into their free Borrowell account to complete any of the following actions:
1. Open daily Mystery Boxes
2. Complete short weekly surveys
3. Get approved for a credit card
4. Make a Credit Builder payment
5. Make a Rent Advantage payment
For full giveaway details, visit borrowell.com/4-million-giveaway.
About Borrowell
Borrowell is a leading personal finance platform dedicated to helping Canadians feel confident about money. With over four million members, Borrowell empowers Canadians to understand their credit, build credit through Rent Advantage and Credit Builder, and make better financial product choices. Visit borrowell.com or download the Borrowell app to sign up for free.
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Methodology
- Change in credit score points: The net change of over 87,000,000 credit points is based on the 4.1 million Canadians who joined Borrowell between Jan 1, 2016 to Dec 31, 2025. It is calculated as the sum of the difference between each member's most recent score and their score when they joined Borrowell.
- Rent Advantage score increase: Based on members with an Equifax Canada ERS 2.0 credit score between 300-600 who made on-time payments on all of their accounts with no missed payments on any accounts.
- Credit Builder score increase: Based on members with a loan size of $240 and an Equifax Canada ERS 2.0 credit score under 600 who made on-time payments on their Credit Builder and had a credit score increase.
SOURCE Borrowell
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