On the TechTO stage ×1
First seen on the TechTO stage in 2024. Every talk is searchable — ask the archive about Jonah ↗
In their words
We build a community banking platform that focuses on enabling credit invisible Canadians, which are 9 million people, really to lower their cost of credit, build credit history and increase their savings.
In Canada there are 9 million people who are considered non-prime — typically they have credit scores under 720 — and this mainly affects newcomers coming to the country.
The game changer is we have done over $2 million in transaction volume and we have a 100% repayment rate.
More from TechTO ×1
Around the web ×2
Quick answers
Who is Jonah Chininga?
The co-founder and CEO of Woveo, a fintech he started in 2020 as MICC after moving from Zimbabwe to Prince Edward Island in 2014 and finding he could not build a Canadian credit history. The company is now headquartered in Calgary.
What does Woveo do?
It runs a community wallet: members pool money and take turns borrowing from the collective fund, and Woveo reports those transactions to the credit bureaus so the repayments build a credit file that conventional lending never would.
What did Jonah Chininga say at TechTO?
On a June 2024 TechTO panel he said Woveo was working with 72 communities and about 18,000 members, had done over $2 million in transaction volume with a 100% repayment rate, and framed community credit as a question of repayment hierarchy rather than risk scoring.