Longueuil, Quebec-based fintech Hardbacon obtained it’s latest round of financing through public crowdfunding platform FrontFundr. With a funding target of $500k, the platform is open for funding for another 11 days and has already reached $574k.  With interest rates at historic lows, it’s generally not hard for start-ups to find financing these days, but we applaud the approach of taking this to the public rather than venture capitalists. 

For one, the financial app/platform capitalizes on an opportunity to turn existing users into investors. Those who love the app experience will be among the pool of finaciers. When your most loyal users have skin in the game as investors, that drives product loyalty to new levels.

We plan to review Hardbacon in an upcoming LARI report where we specifically explore financial planning and comparison tools. For now, if you’re unfamiliar with the platform, a commonly known comparison would be Intuit’s Mint. Hardbacon engages Canadians with their finances, budgets and planning, and then allows them to compare and connect with providers in a number of categories: robo-advisors, chequing accounts, online brokers, savings accounts, credit cards, mortgages, and personal loans.