FintechWerx expands lending with Ruby Loans

By Milan Rojan

FintechWerx has agreed to acquire the intellectual property and technology assets of Ruby Loans, a small and medium-sized business (SME) lending platform, as the Canadian FinTech expanded its lending technology portfolio and strengthens its financial services offering.

George Hofsink, Chief Executive Officer of FintechWerx, said: “Ruby Loans adds an important capability to our broader vision of building intelligent financial infrastructure. Lending remains one of the most significant opportunities for financial institutions and lenders to improve efficiency, customer experience and decision-making.”

The acquisition was made under an Intellectual Property and Technology Asset Purchase Agreement with 1431575 B.C. Ltd. The transaction has valued the technology at up to $603,000, comprising an upfront cash payment, shares and milestone-based consideration, subject to regulatory approvals and closing conditions.

Ruby Loans was designed to automate key stages of the SME loan origination process, enabling borrowers to initiate credit enquiries while reducing manual documentation and risk assessment tasks. The platform has streamlined application processing by combining document collection, financial analysis and credit evaluation into a structured workflow before applications reach lending teams.

Fred Zdan, Founder of Ruby Loans, said: “Joining FintechWerx creates an opportunity to accelerate that vision by combining our lending expertise with a broader financial technology platform.”

As part of the agreement, FintechWerx has also agreed to begin discussions with Ruby Loans founder Fred Zdan regarding his appointment as Executive Chairman and Chief Executive Officer of FinanceWerx Solutions, the company’s wholly owned subsidiary.

The acquisition has supported FintechWerx’s strategy of expanding beyond onboarding, payments, identity verification and fraud mitigation into lending technology. The company expects the Ruby Loans platform to be further enhanced through its data analytics and artificial intelligence initiatives, enabling financial institutions and lenders to improve operational efficiency while delivering faster lending decisions for SME customers.