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Fig Financial has passed CAD $500 million in lending to Canadian borrowers as it broadens its consumer finance platform.
The Toronto-based fintech has received more than 1.2 million loan applications since launching in 2023. It has also collected more than 1,200 Trustpilot reviews, with an average score of 4.8 out of 5.
Fig is a digital lender offering personal loans with fixed repayment structures and plain-language terms. The business is backed by Ontario Teachers' Pension Plan and Fairstone Bank, giving it support from established financial investors and lenders as competition among consumer finance platforms in Canada intensifies.
The lending total marks a notable benchmark for a company that has been in the market only a few years. It also offers a glimpse of demand for online borrowing tools among Canadians seeking access beyond the routines of branch-led banking.
One figure highlights that shift: 40% of applications submitted to date arrived outside traditional banking business hours, according to Fig.
That suggests a significant share of customers are turning to digital channels when conventional lenders are closed, whether because of work schedules, family commitments, or the urgency that often comes with short-term borrowing needs. It also points to pressure on newer financial services groups to make products easier to understand at the point of application.
François Côté, Chief Executive Officer of Fig Financial, linked the lending milestone to the company's wider ambitions in personal finance.
"Reaching half a billion dollars lent is a milestone we're incredibly proud of. What makes us even prouder is the trust Canadians have placed in us," Côté said.
"We started by helping Canadians borrow better, but our ambition has always been much bigger. We're building a financial partner Canadians can rely on through every stage of their financial lives."
Education Push
Alongside the lending update, Fig has launched a podcast, FinTalk, as it moves further into financial education and consumer engagement. The series is hosted by Monisha Sharma, Chief Revenue Officer of Fig Financial, and features discussions with executives and specialists from across the Canadian financial sector.
The programme covers topics including credit scores, home ownership, mortgages, fraud, and financial fitness. Guests include representatives from Neo Financial, Credit Canada, Equifax Canada, Borrowell, ClearScore Canada, Questrade, and Homewise, as well as a detective from the Toronto Police Service's Financial Crimes Unit.
The move reflects a broader pattern among fintech groups trying to extend their relationship with customers beyond a single product. In consumer finance, educational material, podcasts, and content channels have become a way to build brand recognition and keep users engaged between borrowing decisions.
Sharma said the scale and timing of applications had shaped how Fig thinks about customer needs.
"Since launch, we've received more than 1.2 million applications, with 40% submitted outside traditional banking business hours," Sharma said.
"That tells us Canadians want financial services that fit their lives, not banking hours. Everything we build is designed to make managing money simpler, more transparent, and more accessible. Reaching this milestone is just the beginning."
She also outlined the aim of the new media initiative.
"Money can feel overwhelming, but it doesn't have to be," Sharma said.
"FinTalk is about making financial conversations approachable, practical, and judgment-free. Whether you're building credit, buying your first home, protecting yourself from scams, or simply trying to make smarter financial decisions, we want Canadians to feel more confident about their money."
Consumer Focus
For Canadian lenders and fintech platforms, the focus on transparency comes at a time when household budgets remain under pressure and consumers are scrutinising borrowing costs more closely. Companies in the sector are increasingly trying to differentiate themselves not only on approval speed or digital access, but also on how clearly they explain terms and repayment obligations.
Fig is also investing in partnerships and additional financial products aimed at helping users borrow, spend, and save. While it did not give details, the strategy suggests an effort to evolve from a single-product lender into a broader consumer finance platform.
The company is also tying the milestone to a promotional campaign with GoodLife Fitness, built around the idea of linking financial wellbeing with physical wellbeing. The campaign includes a cash prize of CAD $7,500 for one winner, while two others will receive a one-year GoodLife Fitness membership valued at CAD $1,175 plus CAD $75 in cash.
Bruce Sellery, Chief Executive Officer of Credit Canada, described FinTalk as part of a push for clearer financial guidance.
"People don't need more financial jargon. They need clear, practical advice they can actually use," Sellery said.
"That's what we're all about at Credit Canada, and it's why we're excited to be part of FinTalk and help more Canadians build confidence with their money."