Cashco Financial

What Cashco Financial does

Cashco Financial is a Canadian alternative lender headquartered in Edmonton, Alberta, founded in 2007 by Tim Latimer (originally as Cash Canada) to serve underbanked Canadians who lack access to traditional bank credit. The company provides short-term payday loans of up to $1,500 (no credit check required, repayment tied to the borrower's pay schedule) and longer-term Flex Loans of up to $9,000 over terms of up to 60 months, with on-time payments reported to Equifax and TransUnion to support customer credit building. Optional subscription add-ons include Buy Some Time payment deferral (starting at $19.95/month) and a Loan Protection Plan that has covered nearly $2 million in loan payments for clients during qualifying life events.

The company operates a digital lending platform comprising a 24/7 online application portal, mobile app, phone-based applications with eSign, and live chat support, supplemented by five remaining physical branches in Saskatchewan (Prince Albert, Saskatoon, North Battleford, Regina) and Ontario (Guelph). The underlying technology stack includes an in-house Loan Management System (FSL) used by employees for phone verification and processing, integrated with Inverite Insights for bank verification, identity verification, and liveness checks during digital onboarding. Cashco is provincially licensed in Alberta, British Columbia, and Saskatchewan, with privacy compliance under PIPA (Alberta and BC) and PIPEDA federally.

Cashco generates revenue primarily through fee-based pricing on payday loans (capped at $14 per $100 in Alberta and Saskatchewan) and interest on Flex Loans, supplemented by recurring monthly subscription fees on the Buy Some Time and Loan Protection Plan add-ons. The customer base consists of three primary segments: underbanked Canadians facing urgent cash needs, credit-challenged borrowers seeking to rebuild credit history, and recipients of government benefits (child tax credit, old age security, Canada pension, handicap assistance). In May 2024, Cashco closed a US$50 million debt investment facilitated by Bastion Management and Stephens to refinance existing debt and fund portfolio growth and technology development, positioning the company to navigate January 2025 industry-wide regulatory rate-cap changes while continuing its shift toward a digital-first operating model.

Name

Cashco Financial

Legal name

Cashco Financial Inc.

Website

https://cashcofinancial.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

101–250 employees

Short description

Cashco Financial is a Canadian alternative lender founded in 2007 and headquartered in Edmonton, offering payday loans (up to $1,500) and Flex Loans (up to $9,000) to underbanked consumers across Alberta, British Columbia, Saskatchewan, and Ontario through digital channels and five physical branches.

Ownership category

akta.pro rank

Product category

Alternative Consumer Lending

NAICS

Credit Card Issuing (52221)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Cash Advance (Online & Storefront) (FSAKAMAC)

akta.pro secondary industry

Small-Dollar Short-Term Installment Loans (Non-payday) (FSAKAMAI)

Keywords

• Alternative consumer lending
• Payday loan services
• Installment loan products
• Underbanked credit access
• Short-term personal loans

Headquarters

HQ city

Edmonton

HQ country

Canada

HQ region

North America

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Payday Loans: Short-term unsecured loans up to $1,500 with repayment terms aligned to the borrower's pay schedule. Maximum fee of $14 per $100 borrowed in Alberta, with provincial regulations varying. Repaid in full on next payday or within 42-62 days depending on province.
2. Flex Loans: Longer-term installment loans up to $7,000-$9,000 with repayment terms up to 60 months. Features lower interest rates than payday loans and includes optional add-ons like Buy Some Time payment deferral and Loan Protection Plan.
3. Buy Some Time Add-on: Optional monthly add-on service allowing borrowers to skip a payment every six months with NSF fee relief. Starting at $19.95/month.
4. Loan Protection Plan: Optional protection service covering loan payments during critical illness, injury, unemployment, or other qualifying life events. Has covered nearly $2 million in loan payments for clients.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Cashco Financial is a Canadian alternative consumer lender providing short-term Payday Loans (up to $1,500) and longer-term Flex Loans (up to $7,000-$9,000) to underbanked Canadians, with optional add-ons such as Buy Some Time payment deferral and Loan Protection Plan. Loans are originated through online, mobile, phone, and select physical branch channels, with no credit check required for payday products and on-time payment reporting to Canadian credit bureaus.

Product overview

Cashco Financial is an alternative lender offering a portfolio of short-term and long-term loan products for underbanked Canadians. The core offerings consist of Payday Loans (up to $1,500, short-term, no credit check) and Flex Loans (up to $9,000, up to 60-month repayment term with credit-building features). Personal Loans (up to $7,000) round out the product suite. Flex Loans support add-on features including Buy Some Time (skip payment option) and Loan Protection Plan. The company operates through both online/digital channels and select physical branches across Alberta, British Columbia, Saskatchewan, and Ontario.

Differentiator

Problem solved

Functional benefit

Products and services

• Payday Loans
• Flex Loans
• Personal Loans

Quantifiable outcome

• Loan Protection Plan has covered nearly $2 million in loan payments for clients
• +2 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Inverite Insights Inc.coreTechnology or Integration · 3 February 2026Inverite Insights Inc., a Canadian risk infrastructure company, provides Cashco with bank verification and identity verification workflows. Cashco has used Inverite since 2018 and renewed its agreement in 2026, citing the benefit of consolidating key verification capabilities under a single Canadian vendor. As part of the renewed partnership, Cashco added liveness checks to strengthen identity verification during digital onboarding.
• ATB FinancialminorStrategic or Co-development Partner · 1 May 2017Partnership with ATB Financial for 'real world banking' initiative bringing meaningful banking services to Albertans. Thousands of Albertans responded to the Cashco and ATB collaboration.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Cash 4 You: Cash 4 You is a Canadian alternative lender offering payday loans, installment loans, and title loans across Ontario and other provinces, competing head-to-head for the same underbanked and credit-challenged borrowers.
• Money Mart: Money Mart is one of Canada's largest storefront and online payday and installment lenders, directly competing with Cashco in Alberta, BC, Saskatchewan and Ontario. Its product set (cash advances, installment loans, cheque cashing) and provincial licensing footprint closely mirror Cashco's.
• goeasy (Cash Money): goeasy, through its Cash Money and easyfinancial brands, is a leading Canadian alternative consumer lender offering payday-like, installment, and lease-to-own products. It is a direct competitor in the underbanked segment with overlapping products and broader product tiers.
• Fairstone Financial: Fairstone offers unsecured personal loans, home equity loans, and retail point-of-sale financing to near-prime and credit-challenged Canadians, including installment loan structures comparable to Cashco's Flex Loans. Its national branch and digital footprint make it a core direct competitor.
• iCASH: iCASH is a Canadian online payday and short-term installment lender licensed in multiple provinces, with a digital-first model directly overlapping Cashco's online and mobile offering.
• Speedy Cash Canada: Speedy Cash operates online payday and installment lending across several Canadian provinces, serving a similar underbanked borrower profile with comparable fee-based short-term credit products.
• My Canada Payday: My Canada Payday is a Canadian online payday loan broker and direct lender connecting borrowers with short-term credit providers, overlapping with Cashco's digital customer acquisition funnel.

Emerging players

• Loans Canada: Loans Canada operates an online loan search and comparison platform that connects underbanked Canadians with payday, installment, and personal loan providers, partially overlapping with Cashco's acquisition channels and product positioning.
• Borrowell: Borrowell is a Canadian online consumer lender and credit-building platform offering personal loans and credit products to underbanked Canadians, competing with Cashco's Flex Loan value proposition particularly on credit-building and digital UX.

Regional players

• ATB Financial: ATB Financial is an Alberta-based provincially chartered financial institution that partnered with Cashco in 2017 on a "real world banking" initiative, and offers deposit and credit products that overlap with Cashco's underbanked customer base within Alberta.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/cashco.fin
• Instagraminstagram.com/cashco_financial
• Xx.com/cashcofinancial

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cashco Financial