What GoDay.ca does

GoDay Inc. is a Canadian-owned online short-term lender founded in 2012 and headquartered in Toronto, with additional operational offices in Vancouver, Calgary, Regina, Fredericton, and Halifax. The company offers payday loans of $100 to $1,500 (capped at $500 for first-time borrowers and up to $1,500 for returning customers) to adult Canadian residents who need to bridge temporary cash-flow gaps, and it also offers installment loans and an Express Re-Loan product to qualified returning borrowers. The platform is 100% online and powered by a fully automated AI-based assessment system that delivers pre-approval decisions within seconds of application submission, with no human underwriter review required for the standard flow; funding is delivered via direct deposit or Interac email money transfer, often within an hour of approval.

The underlying technology stack combines the automated assessment engine with an Instant Bank Verification Service (replacing traditional credit pulls with bank-account data validation), top-level encryption, and integrations with Canadian financial institutions for fund disbursement. GoDay operates as a direct-to-consumer business, acquiring customers through SEO-optimized provincial landing pages, a Finance 101 content/education hub, Facebook, and TrustPilot reviews. Revenue is generated entirely through per-transaction origination fees of $14 per $100 borrowed (implying ~365% APR on a 14-day loan in most provinces), with no subscription or recurring component. Pricing varies by province to comply with provincial payday lending caps, and the company is provincially licensed across Ontario, British Columbia, Alberta, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland, and Quebec, and is BBB-accredited and a member of the Canadian Consumer Finance Association.

Operationally, GoDay runs with a small team (1-10 employees) handling underwriting, customer service, collections, and compliance centrally from Toronto, while physical offices in six provinces primarily serve regional presence and licensing obligations rather than retail distribution. The business model is purely transactional, reliant on repeat borrowing and customer acquisition cost discipline in a heavily regulated consumer credit category.

Name

GoDay.ca

Legal name

GoDay Inc.

Website

https://goday.ca

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

1–10 employees

Short description

GoDay.ca is a Canadian online payday lender founded in 2012 that issues short-term loans of $100–$1,500 to Canadian residents through a 100% automated, AI-decisioned platform, funded via direct deposit or email money transfer.

Ownership category

akta.pro rank

Product category

Consumer Payday Lending

NAICS

Credit Intermediation and Related Activities (522)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Single-Payment Payday Loans (FSAKAMAA)

akta.pro secondary industries

Cash Advance (Online & Storefront) (FSAKAMAC), Small-Dollar Short-Term Installment Loans (Non-payday) (FSAKAMAI), Loan Origination Platforms (LOS) & Digital Application Journeys (FSAGAHAA)

Keywords

• Online payday loans
• Short-term lending
• Cash advances
• Consumer lending
• Installment loans

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Payday Loan Fees: GoDay generates revenue through origination fees charged on each payday loan. The standard fee is $14 per $100 borrowed, which equates to approximately 365% APR on a 14-day loan. This is a one-time transaction fee collected at loan repayment, not a recurring subscription model.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

GoDay.ca is a 100% online Canadian payday lender that provides short-term unsecured cash advances ranging from $100 to $1,500 to individual Canadian residents. Applications are completed online in under 5 minutes, decisions are issued in seconds by a fully automated AI assessment system, and approved funds are delivered via direct deposit or Interac email money transfer, often within 1 hour. The company is licensed to operate across multiple Canadian provinces.

Product overview

GoDay.ca is an online payday loan platform offering short-term unsecured loans. The core product is the payday loan ranging from $100 to $1,500, with installment loans available as an alternative for eligible borrowers based on provincial regulations and borrowing history. The platform operates 100% online with automated decisioning, and returning customers can access Express Re-Loan for expedited re-borrowing. Founded in 2012, GoDay is Canadian-owned and operated, serving borrowers across multiple provinces with licensed lending operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Payday Loans Short-term unsecured cash advances of $100 to $1,500 for Canadian residents (18+) with a bank account and a steady income source, designed to bridge cash-flow gaps until the borrower's next payday. Fully online application completed in under 5 minutes, AI-driven instant decision, and funding by direct deposit or Interac email money transfer, often within 1 hour of approval. Standard fee is $14 per $100 borrowed in most provinces.
• Installment Loans Longer-term installment loan product made available to eligible borrowers based on their province, payroll cycle, and borrowing history, presented during the loan approval process for qualified applicants.
• Express Re-Loan Expedited re-borrowing option available through the GoDay account login for existing customers who have fully repaid their current loan, allowing returning borrowers to access up to $1,500 more quickly.

Quantifiable outcome

• Loan approval decision within seconds of application submission
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• Canadian Consumer Finance AssociationcoreOthersGoDay is a proud member of the Canadian Consumer Finance Association (CCFA), an industry organization representing consumer finance companies in Canada. Membership demonstrates commitment to industry standards and consumer protection.
• Financial Institutions (Direct Deposit Partners)coreTechnology or IntegrationGoDay partners with major Canadian financial institutions and banks to enable direct deposit fund transfers and email money transfer services. These partnerships enable same-day funding for approved loans.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• easyfinancial (goeasy): Canadian alternative lender (parent goeasy Ltd.) offering installment loans, lines of credit, and auto financing to near-prime and subprime consumers. Operates adjacent to payday lending with larger balance sizes and longer terms, increasingly competing for GoDay's returning customers.
• Fairstone Bank of Canada: Canadian consumer lender offering installment loans and other credit products to non-prime borrowers. Competes with GoDay's installment loan upsell and represents the larger, deposit-funded incumbent in the Canadian alternative lending space.

Others

• Loans Canada: Canadian loan search and comparison platform connecting borrowers with payday, installment, and personal loan providers. Functions as a distribution channel and competitive indirect acquisition source that overlaps with GoDay's SEO-driven organic acquisition strategy.

Direct peers

• Cashco Financial: Canadian alternative financial services provider offering payday loans, installment loans, and cheque cashing under multi-provincial licensing. Comparable to GoDay across product, regulation, and customer segment.
• Money Mart: Long-standing Canadian payday and installment lender with branch and online channels. Offers similar short-term credit products to GoDay's borrower base under comparable provincial licensing requirements.
• My Canada Payday: Online Canadian payday lender focused on short-term cash advances with provincial licensing. Directly comparable in product, distribution (100% online), and customer profile to GoDay.
• Cash Money: One of Canada's largest payday loan providers with both online and retail storefronts across multiple provinces. Directly comparable to GoDay in product offering, regulatory footprint, and target customer, though Cash Money operates a hybrid retail/digital model versus GoDay's pure-play online approach.
• iCash: Canadian online-only short-term lender offering payday-style loans to subprime borrowers across provinces. Closest pure-online comparable to GoDay in operating model, target segment, and product structure.

Regional players

• Speedy Cash: U.S.-headquartered short-term lender offering payday and installment loans with an online model closely mirroring GoDay's pure-online approach. Comparable in product mechanics and digital distribution but operates in a different regulatory geography.

Emerging players

• Borrowell: Canadian online lending and credit-score platform offering personal loans to prime and near-prime borrowers. Adjacent competitor whose growth reflects migration of Canadian borrowers toward lower-rate digital credit alternatives to payday lenders like GoDay.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/GoDay.ca
• Xx.com/godayCA
• LinkedInlinkedin.com/company/goday-ca

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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 GoDay.ca