Fig Financial
Fig Financial is a Canadian digital lending platform, wholly owned by Fairstone Bank of Canada, that offers online personal installment loans ($2,000–$35,000) to individual Canadian borrowers for debt consolidation, home improvement, and general purposes.
- Company typePrivate
- Founded2023
- HeadquartersMontréal, Canada
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Fig Financial does
Fig Financial is a Canadian direct-to-consumer digital lending platform launched on May 16, 2023, as a wholly owned subsidiary of Fairstone Bank of Canada (a Schedule 1 Canadian bank). The company offers personal installment loans ranging from $2,000 to $35,000 with terms of 24–84 months and APRs from 8.99% to 29.49%, deployed primarily through debt consolidation (45%+ of originations), home improvement, and general-purpose unsecured lending. Fig's product suite includes Fig Lend (core personal loans), Fig Extend (refinancing/credit extension), Fig Elite (premium tier), and Fig Shield (proprietary AI fraud-detection for senior borrowers), supported by automated loan decisioning, biometric identity verification, soft-credit-check pre-qualification, and a 24/7 AI Phone Agent.
The platform is built on Fairstone Bank's regulatory and capital infrastructure, with additional long-term backing from the Ontario Teachers' Pension Plan. Fig operates a fully self-serve, branchless distribution model with direct online applications and embedded-finance partnerships (Borrowell for distribution, Koru for integration). Since launch, the company has funded more than $485M in personal loans to over 32,000 Canadian borrowers, serving customers in all provinces and territories except Northwest Territories, Nunavut, and Yukon.
Revenue is generated primarily through interest income on originated personal loans, net of cost of capital, credit losses, and operating costs. The company is privately held and headquartered in Montreal with a secondary office in Toronto, operating with a small (11–50 employee) hybrid team. Fig has received consecutive Consumer Lender of the Year awards (2024, 2026) from the Canadian Lenders Association, a 2026 FinTech Breakthrough Award, and Great Place to Work / Montreal's Top Employers 2026 recognition.
Fig Financial firmographics
Firmographics- Name
- Fig Financial
- Legal name
- Fig Financial Inc.
- Website
- https://fig.ca
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Fig Financial is a Canadian digital lending platform, wholly owned by Fairstone Bank of Canada, that offers online personal installment loans ($2,000–$35,000) to individual Canadian borrowers for debt consolidation, home improvement, and general purposes.
- Ownership category
- akta.pro rank
Fig Financial industry classification
Industry- Product category
- Consumer Lending
- NAICS
- Credit Intermediation and Related Activities (522)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Debt Consolidation Personal Loans (Unsecured Installment) (FSAKAAAD)
- akta.pro secondary industries
- Prime Unsecured Personal Loans (Installment) (FSAKAAAA), Personal Loan Refinance (Rate/Term) (FSAKAIAB), Large Purchase & Lifestyle Personal Loans (Unsecured Installment) (FSAKAAAG)
Keywords
Where Fig Financial is headquartered
LocationHeadquarters
- HQ city
- Montréal
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
Fig Financial business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Personal Loan Interest: Fig earns interest revenue on personal installment loans extended to customers. Loans range from $2,000 to $35,000 with terms from 24 to 84 months and APRs from 8.99% to 29.49%. Revenue is generated through the interest differential between lending rates and cost of capital.
- Fig Lend: Primary digital lending product offering personal loans for debt consolidation and other purposes, generating interest income.
- Fig Extend: Loan extension/refinancing solutions to expand credit offerings for existing customers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Personal Loans from $2,000 to $35,000 with rates starting at 8.99% |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Fig Financial product offering
Product offeringCore offering
Fig Financial operates a fully digital lending platform that offers personal installment loans to Canadian consumers, ranging from $2,000 to $35,000 with terms of 24 to 84 months and APRs from 8.99% to 29.49%. The platform enables soft-credit-check pre-qualification, automated loan decisioning, biometric identity verification, and funding as early as one business day, with a product suite spanning Fig Lend, Fig Extend, debt consolidation loans, home improvement loans, unsecured personal loans, and Fig Elite.
Product overview
Fig Financial is a Canadian digital lending platform backed by Fairstone Bank offering personal installment loans ranging from $2,000 to $35,000 with terms from 24 to 84 months and APRs from 8.99% to 29.49%. The core product suite includes Fig Lend (personal loans with quick applications), Fig Extend (loan refinancing), and specialized products for debt consolidation, home improvement, and unsecured personal loans. The platform differentiates through AI-powered fraud prevention (Fig Shield), no fees, soft credit check pre-qualification, and next-day funding. Fig also operates under the Kizzo brand (kizzo.ca).
Differentiator
Problem solved
Functional benefit
Brands
- Fig Lend: Digital lending solution offering personal loans with quick applications and approvals.
- Fig Extend
- Fig Elite
Products and services
- Fig Lend Personal loan product under the Fig digital lending platform offering quick online applications and approvals for Canadian borrowers seeking debt consolidation or general-purpose credit.
- Fig Extend Loan extension and refinancing solution integrated with Fig Lend to expand credit offerings and access for Canadian borrowers.
- Debt Consolidation Loans
Quantifiable outcome
- 45%+ of customers use loans for debt consolidation
- +4 more outcomes
Companies that use Fig Financial
Customer profileNamed customers3 records
Segments2 records
Ideal customer profiles2 records
Fig Financial technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability4 records
Feature4 records
Fig Financial partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- BorrowellcoreLaunch collaboration with Borrowell for integration and expansion of credit offerings. Borrowell serves as a distribution and referral partner for Fig's digital lending platform at launch.
- KorucoreTechnology partnership with Koru supporting the launch of the Fig digital lending platform, providing integration infrastructure for the launch collaboration.
- GoodLife FitnessminorPartnership offering annual GoodLife Fitness memberships as prizes in Fig's Financial Fitness Contest promotional campaign.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Fig Financial competitors and assessment
Company assessmentBroad incumbents
- Tangerine Bank: Canadian direct bank offering personal lines of credit and unsecured loans with a fully digital funnel. Comparable as a digitally-native incumbent competing for the same Canadian consumer credit demand.
- Equitable Bank: Canadian Schedule 1 bank operating primarily online with a strong personal lending and deposit franchise. Comparable as a digitally-focused Canadian lender with institutional backing.
- Fairstone Bank of Canada: Fig's parent company and a Schedule 1 Canadian bank offering personal loans across a broader product suite (retail installment lending, mortgages). Comparable as the established lending business Fig is digitizing.
- Neo Financial: Canadian neo-bank offering credit products, accounts, and rewards. Comparable as a digitally-native Canadian fintech expanding into consumer credit, though with a broader product portfolio.
- KOHO Financial: Canadian fintech offering credit-building products, prepaid cards, and personal cash advances. Comparable as a digital-first Canadian lender targeting underbanked and credit-rebuilding consumers.
Direct peers
- Refresh Financial: Canadian consumer lending specialist focused on debt consolidation and home improvement loans. Directly comparable in product mix and target use cases (45%+ of Fig customers also consolidate debt).
- Borrowell: Canadian credit-score and lending platform that also offers personal loans. Fig's launch distribution partner and one of the most direct head-to-head competitors in Canadian digital personal lending.
- Mogo: Canadian digital consumer finance platform offering personal loans, credit-score monitoring, and other credit products. Directly comparable as a digital-first Canadian lender targeting similar consumer segments.
- Loans Canada: Canadian loan-search and broker platform connecting borrowers with personal loan, debt consolidation, and home improvement lenders. Comparable as an acquisition channel and indirect competitor for Fig's core customer.
Emerging players
- goPeer: Canadian peer-to-peer and consumer lending platform serving borrowers underserved by traditional banks. Comparable as a digital Canadian lender pursuing a similar consumer-credit niche with a different funding model.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Fig Financial social profiles
Digital presenceFig Financial financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fig Financial leadership team
Management profileNumber of profiles
Profiles1 record
Fig Financial funding detail
Funding detailFunding overview
Funding rounds1 record
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fig Financial M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fig Financial
What does Fig Financial do?
Fig Financial operates a fully digital lending platform that offers personal installment loans to Canadian consumers, ranging from $2,000 to $35,000 with terms of 24 to 84 months and APRs from 8.99% to 29.49%. The platform enables soft-credit-check pre-qualification, automated loan decisioning, biometric identity verification, and funding as early as one business day, with a product suite spanning Fig Lend, Fig Extend, debt consolidation loans, home improvement loans, unsecured personal loans, and Fig Elite.
Is Fig Financial a public or private company?
Fig Financial is a private company. It is classified as corporate owned and is currently operating.
When was Fig Financial founded?
Fig Financial was founded in 2023. It employs 51 to 100 people.
Where is Fig Financial based?
Fig Financial is headquartered in Montréal, Canada, in the North America region.
How does Fig Financial make money?
Three revenue lines are on record. Personal Loan Interest is the primary driver. The others are fig Lend and fig Extend.
Who are Fig Financial's main competitors?
Broad incumbents on record are Tangerine Bank, Equitable Bank, Fairstone Bank of Canada, Neo Financial and KOHO Financial. Direct peers are Refresh Financial, Borrowell, Mogo and Loans Canada. goPeer is listed as an emerging player.
Does Fig Financial have an API?
No public API is recorded for Fig Financial.
What industry is Fig Financial in?
Fig Financial's product category is Consumer Lending. Its primary akta.pro industry code is FSAKAAAD, Debt Consolidation Personal Loans (Unsecured Installment), with a secondary code of FSAKAAAA, Prime Unsecured Personal Loans (Installment). Its NAICS code is 522 and its SIC code is 6141.