Marble Financial to offer its MyMarble personal finance SaaS platform to homebuyers in Canada

Marble Financial Inc (CSE:MRBL) (OTCMKTS:MRBLF) (FSE:2V0) has said it is launching its artificial intelligence-fueled MyMarble personal finance platform to Mortgage Approval Help clients.

The Vancouver-based company announced the referral program with Mortgage Approval Help (MAH), a subsidiary of Home Owner Soon Financial Inc that helps to connect interested buyers with mortgage lending partners.

Launched in 2012, MAH has helped numerous Canadians become homeowners through its mortgage comparison platform.

READ: Marble Financial inks referral deal with Loans Canada to bring consumers to its MyMarble financial wellness platform

“Access to such a motivated consumer base presents a sizeable new growth channel of opportunity for Marble to empower Canadians using its holistic personal finance fintech solution that provides precise expert curated recommendations, insights, and financial literacy,” Marble said in a statement.

The move comes at a time of red hot real estate sales in Canada. According to the Canadian Real Estate Association, home sales increased by 25% in February 2021 compared to the previous year to reach a new all-time high.

“This exciting new partnership will introduce a high number of potential consumers to our platform and strategically aligns with our mission of helping the underserved population of Canadian consumers,” Marble’s director of marketing Rich Elliott told investors.

MAH’s network gives interested homebuyers access to alternative financing solutions that may not be available elsewhere, according to Terry Hepditch, Home Owner Soon Financial’s director of marketing.

“Having MyMarble available to clients in our network allows us to provide more options for consumers when they need it most, while on their path to home ownership,” Hepditch said. “While we may not be able to place every consumer into a mortgage product today, our goal is to provide solutions through support from valued partners like Marble and ensure everyone can be on a path today, which leads to homeownership in the future.”

Closing of financing

Separately, Marble also said that it has closed a C$1.3 million financing in the form of unsecured convertible debentures.

The debentures have a 15-month term and will accrue interest at a rate of 10% per year, payable semi-annually not in advance. They are convertible at a price of $0.30 per unit, comprised of one share and one-half of one warrant, with a whole warrant exercisable at $0.45 for a period of 21 months from closing. 

Marble directors purchased $300,000 of debentures.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Story by ProactiveInvestors