LoanConnect
LoanConnect is a Canadian loan search engine and marketplace that matches borrowers with a network of lender partners across personal, auto, mortgage, debt consolidation, and bad-credit loans, earning revenue from lender referral commissions on a free-to-consumer platform.
- Company typePrivate
- Founded2018
- HeadquartersLondon, Canada
- Headcount11–50
- GTM typeB2C
- OfferingServices
What LoanConnect does
LoanConnect operates a Canadian loan search engine and marketplace that connects borrowers with a network of lender partners. The company is legally structured as Asset Direct of Canada Inc., headquartered in London, Ontario, and serves Canadian consumers seeking unsecured personal loans (ranging from $500 to $60,000 at APRs of 8.99% to 35% with 3–120 month terms), as well as bad-credit loans, debt consolidation, mortgage comparison, auto loans (APR from 4.99%, 72–84 month terms), cash loans, and online loans. The platform uses soft credit check technology that does not impact applicants' credit scores, aggregates multiple competing lender offers through a single application, and targets pre-approvals in 60 seconds with potential same-day funding.
The platform is built as a self-serve digital interface accessible directly at loanconnect.ca and through an affiliate/referral partner network. The product surface is organized around dedicated product pages for each loan vertical, supported by a financial-education blog, TrustSpot-verified customer reviews, and email/SMS communications. Revenue is generated exclusively from lender referral commissions and fees when users complete applications with partner lenders — the consumer-facing service is free, with no fees or commissions added to loan products.
LoanConnect is led by founder and CEO Adam Rice, with Chris Healy as COO and Mike Butler as VP of Growth. The company has participated in the Holt Fintech AI Accelerator (2018), earned 2023 Finder Customer Satisfaction Awards for personal loans and car loan comparison, and reports that over 60% of business comes from repeat customers and word-of-mouth referrals. No institutional venture capital, private equity backing, or parent company relationships are disclosed.
LoanConnect firmographics
Firmographics- Name
- LoanConnect
- Legal name
- Asset Direct of Canada Inc.
- Website
- https://loanconnect.ca
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- LoanConnect is a Canadian loan search engine and marketplace that matches borrowers with a network of lender partners across personal, auto, mortgage, debt consolidation, and bad-credit loans, earning revenue from lender referral commissions on a free-to-consumer platform.
- Ownership category
- akta.pro rank
LoanConnect industry classification
Industry- Product category
- Consumer Lending Marketplace
- NAICS
- Mortgage and Nonmortgage Loan Brokers (522310)
- SIC
- Loan Brokers (6163)
- akta.pro primary industry
- Mortgage & Loan Introducers (Residential & Commercial) (FSAEAMAA)
Keywords
Where LoanConnect is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
LoanConnect business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Marketing or Sales, Personnel, Operations
Revenue model
- Lender Referral Commissions: ADC (Asset Direct of Canada / LoanConnect) is paid by Service Partners (lenders) through fees and/or commissions when users complete loan applications and select a lender. The service is free to consumers with no fees or commissions added to loan products.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | No-cost consumer service with lender-funded commissions |
Go-to-market motion3 records
Distribution channels2 records
Marketing channels6 records
LoanConnect product offering
Product offeringCore offering
LoanConnect operates a Canadian online loan search engine and comparison marketplace that matches borrowers with a network of partner lenders offering personal loans, auto loans, mortgages, debt consolidation loans, bad credit loans, cash loans, and online loans. Users complete a single application on loanconnect.ca and receive multiple competing loan offers via a soft credit check that does not impact their credit score, with pre-approvals delivered in as little as 60 seconds and loan amounts ranging from $500 to $60,000. The service is free to consumers, with the company earning referral commissions from lenders when users complete applications.
Product overview
LoanConnect operates as a Canadian loan marketplace platform offering multiple loan products through a single application interface. The core LoanConnect Loan Marketplace serves as the central platform connecting borrowers with a network of lenders. The product portfolio includes Personal Loans (unsecured, up to $60,000), Bad Credit Loans, Debt Consolidation Loans, Mortgage Services, Auto Loans, Cash Loans, and Online Loans. Users access the platform to compare loan offers, with the system matching applicants to relevant lenders based on their financial profile. The platform differentiates by offering pre-approvals up to $60,000 with offers in as little as 60 seconds, no impact to credit score for initial applications, and access to lenders servicing all credit levels including those with bankruptcy history.
Differentiator
Problem solved
Functional benefit
Products and services
- LoanConnect Loan Marketplace A loan comparison search engine platform that enables Canadians to compare unsecured personal loans, mortgages, auto loans, and other financing options from a network of lender partners. Users complete one application and receive multiple loan offers without impacting their credit score.
- Personal Loans Unsecured personal loans ranging from $500 to $60,000 with APR from 8.99% to 35% and repayment terms from 3-120 months. These loans can be used for home renovations, medical bills, debt consolidation, and emergency expenses.
- Bad Credit Loans Loan products designed for Canadians with poor credit scores or those who have experienced bankruptcy or consumer proposals. The platform connects applicants with lenders who service customers across all credit scores.
- Debt Consolidation Loans Loan products that allow borrowers to combine multiple debts into a single monthly payment, potentially at a lower interest rate than existing credit card or payday loan obligations.
- Mortgage Services Mortgage comparison and referral services that connect Canadian homeowners and prospective buyers with mortgage lenders through the LoanConnect platform.
- Auto Loans Auto loan comparison services with APR starting as low as 4.99% and repayment terms between 72-84 months. Users can compare multiple lender offers for vehicle financing.
- Cash Loans Short-term loan products for immediate financial needs, offering quick access to funds for emergency expenses with various term options.
- Online Loans Digital-first loan application process allowing Canadians to complete loan applications online with offers possible in as little as 60 seconds and funds potentially available the same day.
Quantifiable outcome
- Pre-approval offers in as little as 60 seconds with funds possible same day
- +1 more outcomes
Companies that use LoanConnect
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
LoanConnect technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
LoanConnect partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Holt Fintech AI AcceleratorcoreLoanConnect was accepted into the Holt Fintech AI Accelerator in December 2018, selected from 400 applicants as one of 13 companies. The 12-week Montreal-based program provided hands-on training, access to world-class mentors, partners, and financial investments. Founder Adam Rice was noted for leading a strong senior management team with a consumer-first product.
- Canadian Lender NetworkcoreLoanConnect partners with a network of Canadian lenders offering personal loans, auto loans, and other financial products. Lenders compete for borrowers' business through the platform, providing consumers with multiple competing offers. The network includes lenders serving all credit profiles including those with poor credit or bankruptcy history.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
LoanConnect competitors and assessment
Company assessmentDirect peers
- Borrowell: Canadian credit-focused fintech offering free credit scores and personal loan matching services to Canadian consumers — direct overlap in Canadian credit/loan comparison category.
- Loans Canada: Canadian online loan comparison platform connecting borrowers with a network of lenders for personal loans, debt consolidation, auto loans, and bad credit products — directly comparable loan marketplace model in the same Canadian geography.
- Magical Credit: Canadian lender focused on personal loans and debt consolidation for borrowers with poor credit — overlapping service for the bad-credit personal loan segment that LoanConnect serves.
- Smarter Loans: Canadian loan comparison and brokerage platform serving personal, auto, and business loan borrowers with multiple lender offers — closely aligned loan search engine business in Canada.
- Spring Financial: Canadian online lending platform that offers personal loans and debt consolidation, including products for borrowers with bad credit — comparable target customer segment and product mix in Canada.
Broad incumbents
- LendingTree: Large US-based online loan marketplace connecting consumers with multiple lenders across personal, auto, home, and business loans — established incumbent in the loan comparison category globally.
- Credit Karma: Credit and loan comparison platform with a Canadian presence that helps consumers find personal loans, credit cards, and other credit products — broad incumbent in consumer credit comparison.
- NerdWallet: Major US financial product comparison platform covering personal loans, mortgages, and credit cards — broad incumbent with similar comparison-and-referral business model.
Emerging players
- Finder Canada: Financial product comparison platform covering personal loans, credit cards, and banking products in Canada — comparable comparison/marketplace model with broader product scope.
Regional players
- RateGenius: Auto loan refinance comparison marketplace operating primarily in the US — directly comparable marketplace model but in a different geography.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
LoanConnect social profiles
Digital presenceLoanConnect financial estimates
Financial estimateRevenue estimate
Valuation estimate
LoanConnect leadership team
Management profileNumber of profiles
Profiles3 records
LoanConnect funding detail
Funding detailFunding overview
Funding rounds3 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
LoanConnect 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 LoanConnect
What does LoanConnect do?
LoanConnect operates a Canadian online loan search engine and comparison marketplace that matches borrowers with a network of partner lenders offering personal loans, auto loans, mortgages, debt consolidation loans, bad credit loans, cash loans, and online loans. Users complete a single application on loanconnect.ca and receive multiple competing loan offers via a soft credit check that does not impact their credit score, with pre-approvals delivered in as little as 60 seconds and loan amounts ranging from $500 to $60,000. The service is free to consumers, with the company earning referral commissions from lenders when users complete applications.
Is LoanConnect a public or private company?
LoanConnect is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was LoanConnect founded?
LoanConnect was founded in 2018. It employs 11 to 50 people.
Where is LoanConnect based?
LoanConnect is headquartered in London, Canada, in the North America region.
How does LoanConnect make money?
One revenue line is on record: lender Referral Commissions.
Who are LoanConnect's main competitors?
Direct peers on record are Borrowell, Loans Canada, Magical Credit, Smarter Loans and Spring Financial. Broad incumbents are LendingTree, Credit Karma and NerdWallet. Finder Canada is listed as an emerging player. RateGenius is listed as a regional player.
Does LoanConnect have an API?
No public API is recorded for LoanConnect.
What industry is LoanConnect in?
LoanConnect's product category is Consumer Lending Marketplace. Its primary akta.pro industry code is FSAEAMAA, Mortgage & Loan Introducers (Residential & Commercial). Its NAICS code is 522310 and its SIC code is 6163.