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Propel Holdings Inc.

TSX:PRLLive AI agent

Propel Holdings is dedicated to building a new world of financial opportunity through three key pillars: Inclusion, Evolution, and Experience.

Investor website: https://propelholdings.com/

About

Propel Holdings is dedicated to building a new world of financial opportunity through three key pillars: Inclusion, Evolution, and Experience. The company focuses on providing credit access to approximately 90 million underserved consumers in North America and the UK, aiming to help them thrive by evolving to better credit products over time. Propel emphasizes respect and exceptional service, offering financial tools and education to support consumers on their financial journeys. The company also features a Graduation Program that rewards responsible repayment behavior with lower rates and better terms, and partners with SpringFour to connect consumers with free resources for financial wellness. Propel is an active member of industry associations that advocate for responsible lending and consumer protections, and it upholds strong corporate governance to ensure accountability and transparency as a publicly traded entity.

Verified company data

Cash position
$21,065,406
Shares outstanding
39,372,845
Fully diluted shares
42,518,840
Projects
["Propel Bank is licensed as an International Financial Entity ('IFE') overseen by the OCFI. Established under the U.S. banking framework, many IFEs today provide a range of banking and financial services to clients in the U.S. and globally. Propel Bank represents an evolution of Propel's fintech-bank partnership platform. At launch, Propel Bank will focus on serving existing and future bank partners by providing core consumer lending services including underwriting, compliance, and customer service. Propel Holdings will not become a bank holding company. Propel Bank will provide long-term strategic benefits, including: Potential for Product and Service Diversification The establishment of Propel Bank creates potential for growth— including the addition of customary banking products and services, subject to regulatory approval. Expanded Access to Markets With its IFE license, Propel Bank allows for an expanded presence in existing and new markets. 'Propel Bank marks the next step in our journey to become global leaders by strengthening our partnership platform, expanding our reach, and opening new pathways for growth. This approval validates the strength of our team, our technology and the business we've built and positions us to create greater opportunity for partners, shareholders, and underserved consumers', said Clive Kinross, CEO of Propel Holdings. Operationalization of the Bank Propel Bank will be headquartered in Puerto Rico with its own management team. The experienced management team in Puerto Rico has already been identified and will start in Q1 2026. Noah Buchman, Propel's President and Chief Revenue Officer, will also serve as Propel Bank's President. Propel Bank will leverage the Company's AI-powered technology platform and operational infrastructure to deliver its services. Propel Bank is expected to be operational in the first half of 2026. International Financial Entity IFEs operate within a highly regulated environment that benefits from Puerto Rico's status as a U.S. territory and the application of U.S. federal laws such as anti-money laundering statues including the Bank Secrecy Act and the PATRIOT Act. OCFI regulates banking institutions within the jurisdiction. OCFI's approval follows a multi-year investment by Propel in building out its banking infrastructure and OCFI's comprehensive evaluation of Propel's governance, compliance, and operational readiness, reflects strong confidence in the Company's ability to launch and manage a fully regulated financial institution. Purpose-built for modern fintech innovation, the IFE regime pairs robust U.S. regulatory oversight with the flexibility needed for technology-driven financial services. The IFE positions Propel Bank to deliver secure and scalable servicing capabilities as the Company expands its financial ecosystem."]
Leadership
Clive Kinross (Co-Founder, Chief Executive Officer, Clive has been leading Propel since its inception in 2011, focusing on modernizing the lending space and driving profitable growth. He has a background in building successful tech businesses and was named EY Entrepreneur of The Year Ontario in 2024.), Sheldon Saidakovsky (Co-Founder, Chief Financial Officer, Sheldon has built Propel's capital structure and leads its financial functions, overseeing significant debt facilities and the company's IPO in 2021. He has over 18 years of experience in finance.), Noah Buchman (Co-Founder, President & Chief Revenue Officer, Noah has been a key driver of Propel's growth and oversees major initiatives across the company, including bank programs and strategic partnerships. He holds a Master's degree in Business, Entrepreneurship and Technology.), Jonathan Goler (Co-Founder, Chief Risk Officer, Jonathan is the architect of Propel's AI-based technology platform and leads the Risk and Product Analytics groups. He has a Ph.D. in Biological Engineering from UC Berkeley.), Gary Edelstein (President & Chief Operating Officer, Gary has over 20 years of experience in online businesses and focuses on technology innovation and operational excellence at Propel.), Sarika Ahluwalia (Senior Vice President, Chief Compliance Officer, Sarika oversees compliance and regulatory divisions, ensuring Propel's strong culture of compliance.), Robert Joe (Senior Vice President, Finance, Robert manages day-to-day financial operations and has transformed the finance function to support Propel's growth.), Rachel Kaplan (Senior Vice President, Product and Analytics, Rachel focuses on improving Propel's products and analytics, leveraging data for better decision-making.), Jeanne Lam (Senior Vice President of Growth & Global Marketing, Jeanne leads marketing and customer experience teams, driving customer retention and growth.), Tom Spence (Managing Director, Propel UK, Tom leads Propel's operations in the UK, focusing on responsible lending and governance.), Cindy Usprech (Senior Vice President, People & Culture, Chief of Staff, Cindy develops HR strategies and programs, fostering a culture of performance and excellence.), Jay Vaghela (Senior Vice President, General Counsel & Corporate Secretary, Jay oversees legal matters and corporate governance, playing a key role in Propel's IPO.), Matthew Wiens (Senior Vice President, Bank Programs & Legal Affairs, Matthew focuses on developing new business initiatives and managing bank partnerships.), Lindsay Finneran-Gingras (Vice President, Communications & Corporate Affairs, Lindsay builds Propel's corporate reputation and manages communications strategies.), Eitan Szlak (Senior Vice President, Financial Strategy & Operations, Eitan oversees financial operations and has played a key role in optimizing business performance.), Jason Bolla (Vice President, Financial Reporting Analytics, Jason leads financial reporting initiatives and enhances fiscal management.), Devon Ghelani (Vice President, Capital Markets & Investor Relations, Devon manages investor relations and capital raising efforts.), Nisha Kanani (Vice President, Product Engineering, Nisha oversees product engineering teams and ensures reliable delivery of technology solutions.), Jonathan Krauklis (Vice President, Operations, Jonathan specializes in call center operations and customer growth initiatives.), Brad Sherk (Vice President, Operations & Shared Services, Brad focuses on customer success and operational excellence.), Brian Simmons (Vice President, Project Management Office, Brian leads major change initiatives and has extensive experience in fintech.), Anne Steptoe (Senior Vice President, Software Development, Anne builds high-performing engineering teams and delivers innovative products.),

Verified data last updated:

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