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B+

Review of Propel Holdings Inc.

MAR 26, 2024 - Propel Holdings (PRL) has evolved over the past several years from operating solely under the MoneyKey brand as a SaaS loan management system to offer online unsecured loans, to now developing its own proprietary underwriting capabilities and lending platform. PRL is an innovative fintech company operating through its main three brands, MoneyKey and CreditFresh in the US, and Fora in Canada. While PRL has not been a publicly traded company for many years, it has witnessed rapid growth in its product and services offerings across both Canada and the US, and it is clear that the company has a long runway ahead of it. Overall, this is becoming a high-quality name that has the potential for high future growth rates and margin expansion. We are initiating coverage at a ‘B+’.

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Q: i hold a number of these small cap names. I do not hold CLS or TVK. At current pricing what order would you add to these names, what names do you think are very attractively priced right now?

Thanks
Tim
Read Answer Asked by Timothy on July 26, 2024
Q: There have been increasingly persistent reports of provisions for consumer loan default by the banking industry; PRL is in the business. I doubt PRL earnings for the quarter just past - statement due shortly – will be affected but it might affect their outlook for the coming quarter(s). I think GSY found a way to deal with the issue although it had a very significant run down in ‘21/’22 and wondered if it was related and what PRL had or could do to address the issue and what you could bring to the table on that score. I look forward to your reply. Thank you.
Read Answer Asked by Mike on July 23, 2024
Q: Hi, hold enough EIF that I want to divest and diversify. Looking for high growth over the next 4-5 years, but not as interested in dividends. I also hold a fair bit of CSU and gsy, so am thinking along those lines. What would be a good ranking for the following at today's prices (best to worst), and are there another couple additions you'd suggest? Big thanks!
DOL, BN, CLS, LMN, TOI, DRX, DSG, IFC, TRI, PRL, AFN, GFL.
Read Answer Asked by Petra on July 23, 2024
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