Fraction, a Canada-based mortgage start-up backed by Capital One founders, has expanded its HELOC footprint in the US.
After seeing success in the Canadian market, the company launched its digital platform and flagship loan product in Washington State. Founded in 2018, Fraction offers a self-service mortgage platform and a signature HELOC (home equity line of credit) loan that allows homeowners to access the value locked in their homes with optional monthly payments.
“Fraction’s HELOC is the innovative and tech-forward loan option that American homeowners need to live and age well, giving them access to fairer alternatives for securing investment capital or solving the problem of being house rich but cash poor,” said Hayden James, CEO and co-founder of Fraction. “We’re excited to expand into the US, and Washington is an ideal first state for our rollout given its adjacency to the Canadian market.”