Financial matchmaking for immigrants gets off to a flying start
Canadian Immigrants, women and under represented entrepreneurs looking for investors to fund their business ideas are now in a stronger position as eQuo launches an inclusive matchmaking platform at Collision 2022.
eQuo serves as a truly inclusive platform for entrepreneurs and investors that are often otherwise left out of the entrepreneurial ecosystem. The eQuo platform matches entrepreneurs with investors, funding and capital based on mutually aligned criteria, thus ensuring all entrepreneurs are included and have equitable access to capital, and providing entrepreneurs with the funding they need to grow.
Today, immigrants, LGBTQ+, indigenous, persons with disabilities, blacks and women entrepreneurs all represent a large untapped market who can help spur the Canadian economy through the product and services they provide, the jobs they create and the money they bring into their communities, if they are supported through funding.
Immigrants, women and the financial system
Immigrants account for 33% of all business owners in Canada yet they are less likely to have the support of venture capital or angel investors as compared to Canadian-born entrepreneurs (0.6% vs. 1.1%). They are less likely to use credit from financial institutions (27.6% to 37.6%, respectively), and more likely to use money from friends and family (15.0% to 12.2%, respectively).
Canadian women who start businesses make 58% less than their male counterparts. 5.3M (16%) Canadians are living with some form of disability yet 95.5% of businesses in Canada are led by leaders without a disability.
eQuo is closing the opportunity gap by recognizing the obstacles and systematic challenges at work in the traditional startup ecosystem. eQuo ensures their network empowers entrepreneurs and investors to realize their full potential by providing equitable access to resources, information and support.
How immigrants are matched with investors
To match immigrant entrepreneurs with prospective investors, it uses heavy meta data tagging, where founders indicate what they do, industry, founder composition and other related details. eQuo used that data to relate to investors and other funding alternatives based on mutual criteria and aligned fit.
Once the applicants fill out their profiles the company’s algorithm does the matching.
According to the company’s Founder Barry Hillier, “the eQuo platform is creating the biggest “small” network for underestimated founders and investors who realize how big a small business can be. A big problem certainly deserves big ambition.”