| Founded | 2017 |
|---|---|
| Closed | 2023 |
| Country | Canada |
| Sector | Fintech |
| Collapse type | Slow Death |
| Founder | Michael Garrity |
Snap Financial
"Canada's home-reno lender couldn't survive rising rates and rising defaults."
Years-long decline before final shutdown
Key Events Timeline
Snap Financial, a Toronto-based buy-now-pay-later lender for home improvement services, collapsed in 2023 after rising interest rates crushed its lending margins.
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