With new name 'Driven,' leading Canadian small-business fintech aims to better support enterprises with data-driven insights
Thinking Capital, a member of the Purpose Unlimited family of companies and leading Canadian fintech that provides credit and insights to small businesses, has unveiled a new name.
Celebrating the energy and importance of small businesses to communities across Canada, the firm has taken on its new name, Driven, by Purpose.
“Giant corporations and global brands do not connect and humanize our local communities. People feel a far more personal connection to small businesses, their owners, and the people working with them,” Stéphane Marceau, CEO of Driven, said in a statement. “Whether they are e-commerce-focused or brick-andmortar, are based in Shawinigan, Kelowna or downtown Toronto, small businesses are the heartbeat of our communities across the country.”
While small businesses have faced extreme adversity in recent months, the recent Driven small business survey conducted by Angus Reid Forum found 37% of business owners expect their financial situation to improve in the next six months, while 47% expect theirs to stabilize.
The survey also found 40% of small business owners have recently had to rely on some form of debt, and that one in eight small or micro businesses are interested in learning about cryptocurrency, but are not sure how to leverage it.
To address the growing market of small businesses looking to engage with crypto, Driven has announced a limited-time promotion allowing small business owners to earn crypto rewards. The promotion will draw on Purpose Unlimited’s world-leading capability in crypto innovation and asset management to develop a safe and secure way for small businesses to gain their initial exposure to crypto.
Recently, Driven also developed a data-science powered solution to help small and medium-sized businesses with cash-flow management challenges, forecasting their capital needs, and identifying cash flow gaps. Beyond that, the firm is offering a small business loan solution to give SMBs access to credit in as little as 24 hours.
“During the pandemic, we've witnessed the challenges [small businesses have] faced, the likes of which they could never have anticipated or planned for,” Marceau said. “With the right resources and partners in their corner, they can accomplish almost anything,”
