On the TechTO stage ×5
Borrowell
Watch on YouTube ↗International Women's Day: How to Scale Your Business
Watch on YouTube ↗Founder Journey ft. Eva Wong
Watch on YouTube ↗Eva Wong of Borrowell presents Debt: All The Kinds
Watch on YouTube ↗How scaling is like surfing | Eva Wong, Co-Founder & COO of Borrowell
Watch on YouTube ↗First seen on the TechTO stage in 2015. Every talk is searchable — ask the archive about Eva ↗
In their words
If you want to pursue your dreams, live below your means.
You can't surf if you don't get in the water, and you can't scale a company if you don't start one.
If you spend $100,000 a week on Facebook, you may not be a real company — you're still a scam. But if you spend $500 on a radio ad, all of a sudden you're a real company, because you have to be a real company to be on the radio.
What I had underestimated was the importance of having to build trust with people, even if we weren't asking for their money. We were literally giving them money, but they still didn't want to be scammed.
It was like very clear when we launched a very crappy MVP of free credit score, which was we literally flashed a three-digit number on a screen and we updated it once every three months. Maybe it was your three-digit number, maybe it wasn't.
If you're building something that hasn't been built before, no one has the right background to do it, right? And so no one has done it before, that's sort of the point.
I actually don't think that the ultimate goal should be making yourself a lot of money... I think what the ultimate goal should be is helping a lot of people solving a really big problem.
If you focus on helping a lot of people solving a big problem creating real value all those other things will come.
It's just as important to have a not to do list as it is to do a to do list.
More from TechTO ×3
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Quick answers
What does Borrowell do?
It launched as an online marketplace lender offering Canadians unsecured loans at rates well below credit cards, and grew into one of Canada's largest fintechs by users — the first company to give out credit scores for free, serving over a million people.
What was Eva Wong's background before co-founding Borrowell?
Not the obvious one — she had no background in technology, startups, or financial services, and joined the co-founding team coming off maternity leave. Borrowell announced its seed round in late 2014.
What is her advice for founders scaling a company?
Live below your means so you can pursue your dreams. Scaling is like surfing: get in the water, expect unseen hard work, pick the right wave, and remember it is a team sport.




