On April 20, 2022, QuadFi, a company established by first-generation immigrants, agreed to a financing facility from U.S.-based, minority-owned Crayhill Capital Management, worth up to $127 million. This funding will enable QuadFi to provide personal loans to traditionally underserved demographics, particularly young people and immigrants, who often face challenges in securing loans from mainstream lenders.

The core of QuadFi's approach lies in its unique underwriting model. Unlike conventional risk rating models that predominantly assess a customer's past financial behavior and current income, QuadFi's method takes a more holistic view. It evaluates potential borrowers based on their future income and career trajectory. This is especially beneficial for immigrants, as it allows them to leverage their financial history from their home countries.

QuadFi's initiative aligns with Canada's welcoming stance towards immigrants, receiving 400,000 new immigrants annually. Co-founder and CEO Manny Nikjoo highlighted the company's commitment to providing fair and affordable financial products to these new residents. By integrating credit data from their countries of origin, alongside alternative data and open banking resources, QuadFi aims to offer accurate underwriting and promote financial inclusion in the present scenario. This strategy marks a significant shift from traditional lending models, focusing on inclusivity and forward-looking financial assessment.