goPeer, which makes non-traditional loans available through a peer-to-peer network, has received $25,000 after it wins the top prize in York University’s LaunchYU Accelerator programme this year.
This prize from Aird & Berlis StartupSource Market Entry Award includes $12,500 in cash and an equal amount in Aird & Berlis LLP legal services. The company has also been supplied with a $10,000 LaunchYU Accelerator Award.
goPeer claims to be Canada’s first consumer peer-to-peer lending platform, which connects creditworthy individuals looking to invest with those in need of a loan. Those wishing to borrow money can apply for a loan on the goPeer platform, which investors can then choose to contribute to it for favourable returns.
There were 14 participants in this year’s programme and goPeer was among the five finalists who showcased the viability of their platform to a panel of judges, private investors and partners. The entire accelerator programme lasted four months.
Aird & Berlis partner Randy Williamson said, “Aird & Berlis has been delighted to sponsor the LaunchYU Accelerator program for the last four years. As a firm, we know we will succeed if new businesses can develop to their full potential. And that potential needs support.
“If we can help these businesses set up effective business structures and relationships among their owners, investors, and business counterparts, it will allow these great entrepreneurs to focus on building their business’s products and customers. By providing legal services and funding, we help play a small role in their success.”
The LaunchYU Accelerator programme supports companies in various stages of growth. Its panel included MaRS IAF & StartUP Ventures investment manager Snita Balsara, McKinsey & Company digital specialist Susan Sim and Panache Ventures’ Althea Wishloff.
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