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Gopeer provides a groundbreaking peer-to-peer platform that helps both investors and borrowers to improve their financial well-being

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Are you feeling worried about your finances? You’re not alone. According to a survey by Nanos Research in November 2022, almost half of Canadians reported their personal financial situation had become worse over the last year, due to the price of gas, increased grocery prices, market volatility, and interest rate hikes. For 8 million Canadians, taking out a credit card is the most affordable option.

Marc-Antoine Caya, co-founder and CEO of goPeer, believes this shouldn’t be the case. This is why peer-to-peer lending has been gaining popularity in Canada. This new financial and investment avenue helps Canadians manage their finances better by connecting those who want to borrow or lend money.

Those needing a loan go to the goPeer website, answer a few questions, securely share their credit and banking information, and take out a loan. GoPeer has developed technology to assess credit risk and determine how to price the loan for both borrowers and lenders.

For those who want to lend their money, goPeer offers more than just the satisfaction of helping out fellow Canadians – investors can expect to yield returns of 10% annualized on average.

For example, a couple in their 30s or 40s with a combined income of $200,000 may already have traditional investment and retirement portfolios, but they can use goPeer as a passive way to generate additional income while helping others.

There is no minimum for investors, so those with as little as $1,000 to invest can loan to 100 different people. By investing small amounts across many loans, lenders can de-risk themselves to maximize returns. GoPeer follows a strict process to manage defaults.

The platform also offers an easy-to-use automatic investing feature, which will invest on behalf of the lender according to their pre-set criteria. This allows their investments to compound and work for them without having to constantly log in to goPeer.

Joseph Buaron, co-founder and chief technical officer of goPeer, explains their company stands out from other lenders due to their lack of incentive to charge borrowers more, or have hidden fees and early repayment costs. Instead, they make their money through a transparent fee-for-service system.

Buaron added, ‘Our model puts us in a better position to look out for everyone’s best interests. You’re helping your community and everyday Canadians get out of debt faster, while circulating that money back into the economy.’

Caya also noted that ‘inflation is high right now, but goPeer returns can be higher, so it’s a buffer against inflation. The platform is very innovative and levels the playing field for average investors who never had access to this kind of asset class.’

He believes goPeer’s greatest contribution is their ability to help people – both borrowers and lenders – to improve their financial health, as they have over 55,000 members.

For more information, visit gopeer.ca.

Other articles from mtltimes.ca – totimes.ca – otttimes.ca

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