On the TechTO stage ×1
First seen on the TechTO stage in 2017. Every talk is searchable — ask the archive about Cato ↗
In their words
the first five or 10 lawyers we spoke to basically said, "You can't. There's no way this will ever be done. You guys are wasting your time. Give it up. Just leave."
regulation was the only reason that this actually didn't exist in Canada. So, there wasn't actually a market reason. It wasn't that there wasn't market demand.
bringing an MVP to market cannot be understated just how important that is. like really getting some validation in what you're doing no matter what you are doing I think is probably the most crucial thing when you're starting any company.
Around the web ×3
Quick answers
Who is Cato Pastoll?
Co-founder and CEO of Loop Financial in Toronto. He and his co-founders launched it in 2014 as Lending Loop, the first regulated peer-to-peer small business lending platform in Canada, then rebuilt it into a cross-border banking product for businesses.
What happened to Lending Loop?
COVID-era federal loan programs made its lending product largely redundant, so the company pivoted around 2022 to international financial management and rebranded as Loop. In 2023 Merchant Growth became the dedicated financing provider for its small business customers.
What did Cato Pastoll talk about at TechTO?
At FintechTO in February 2017 he told the story of getting peer-to-peer lending approved in Canada — the lawyers who said it couldn't be done, the banks cutting off fund transfers, halting operations for months, and the lobbying that produced a workable regulatory framework.