Financial Times Names Propel Holdings to its Americas' Fastest Growing Companies of 2024 List
Propel is one of 500 companies that made the list, all a result of its organic growth. The
"We are twelve years into our journey to becoming the leading financial institution for undeserved consumers and our organic growth continues to be phenomenal. It's an honour to be included on the
"Fundamentally, our outstanding organic growth speaks to the millions of undeserved consumers who are locked out of traditional financial institutions. For these underserved consumers, Propel and our bank partners, powered by our industry-leading AI-platform, offer superior products across the credit spectrum. To date, we have helped over 750,000 consumers access credit. Yet, in
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See "Non-IFRS Financial Measures" below. Please also refer to "Non-IFRS Financial Measures and Industry Metrics" and "Key Components of Results of Operations" in Propel's MD&A for the relevant period available on SEDAR+ for further details concerning these non-IFRS financial measures including definitions and reconciliations to the relevant reported IFRS measures. |
Propel (TSX: PRL) is the fintech company building a new world of financial opportunity for consumers, partners, and investors. Propel's operating brands — Fora Credit, CreditFresh and MoneyKey — and our Lending-as-a-Service product line facilitate access to credit for consumers underserved by traditional financial institutions. Through its groundbreaking AI-driven platform, Propel evaluates customers in a more comprehensive way than traditional credit scores can. The result is better products and an expanded credit market for consumers while creating sustainable, profitable growth for Propel. Our revolutionary fintech platform has already helped consumers access over one million loans and lines of credit and over
This press release makes reference to certain non-IFRS financial measures. These measures are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management's perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. Such measures include "Adjusted Net Income".
These non-IFRS financial measures are used to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. We believe that securities analysts, investors and other interested parties frequently use non-IFRS financial measures in the evaluation of issuers. The Company's management also uses non-IFRS financial measures in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts, and to determine components of management and executive compensation. The key performance indicators used by the Company may be calculated in a manner different than similar key performance indicators used by other similar companies.
Definitions and reconciliations of non-IFRS financial measures to the relevant reported measures can be found in our MD&A dated
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