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TRANSCRIPTION WITH SPEAKERS
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[00:00] SPEAKER_01: Welcome to Canada's podcast, the number one podcast for entrepreneurs by
[00:06] SPEAKER_01: entrepreneurs. Hi everyone, I'm with Mark Antoine Kaya, co-founder and CEO of
[00:12] SPEAKER_01: GoPierre. Thanks for being with us today with Mark Antoine. Hi Sandra, thanks
[00:16] SPEAKER_01: for having me on the show today. Wonderful. So let's let's dive right in and
[00:21] SPEAKER_00: tell us more about your story. Awesome. Well, so my name is Mark and the CEO and
[00:27] SPEAKER_00: co-founder of GoPierre. I'm from Quebec, I come from the Eastern townships,
[00:32] SPEAKER_00: Grubb and lived most of my life in Quebec, studied at University of Sherbrook in
[00:37] SPEAKER_00: business. Then I moved to London, England, where I've I did the masters there at
[00:42] SPEAKER_00: the London School of Economics. After that, I moved to Montreal, where I worked in
[00:48] SPEAKER_00: investment banking for a few years, and then I moved to Toronto as part of my
[00:53] SPEAKER_00: career in investment banking. Then while I was a banker, one of my job or
[01:02] SPEAKER_00: deal that I was working on, I remember was for that client where we were
[01:06] SPEAKER_00: issuing convertible debentures, so that's a high yielding investment product
[01:12] SPEAKER_00: that can convert into equity if certain conditions are met. And I thought
[01:17] SPEAKER_00: that personally, there was a great investment product for my own personal
[01:21] SPEAKER_00: investment portfolio, and I realized that this type of product is completely
[01:26] SPEAKER_00: non-accessible to individuals like you and I, only big financial institutions,
[01:32] SPEAKER_00: asset managers can benefit, essentially you need to have a trading desk to have
[01:36] SPEAKER_00: access to those opportunities. And I thought, wow, that's a massive problem.
[01:41] SPEAKER_00: Why do Canadians like you and I cannot access a broader array of financial
[01:47] SPEAKER_00: products for their investment portfolio? And that's led me to start gopure.
[01:53] SPEAKER_00: So essentially on one hand, I realized that it's very difficult as an individual
[01:57] SPEAKER_00: investor to access high yield fixed income investment product.
[02:04] SPEAKER_00: Well, on the other hand, as I was studying the market, I realized that there was a
[02:07] SPEAKER_00: huge gap on the personal lending space, where if you, you know, you have banks,
[02:14] SPEAKER_00: but if you don't qualify for a bank, there's almost no one until you get to
[02:20] SPEAKER_00: companies that are charging incredibly high rates. And there's a huge gap between
[02:25] SPEAKER_00: what banks have to offer and what non-bank's under have to offer and gopure fits
[02:29] SPEAKER_00: very well in this gap. And actually, maybe I should take one step back and tell
[02:34] SPEAKER_00: you about what we're building at GoPure. So what we're doing at GoPure is that we
[02:38] SPEAKER_00: operate peer-to-peer, many to many lending platforms. So we make responsible
[02:45] SPEAKER_00: lending accessible to everyone. On one hand, we allow individuals who are looking
[02:51] SPEAKER_00: for a loan can be for consolidating their debt for home improvement loans or
[02:58] SPEAKER_00: paying down for credit card, for example. And on the other hand, we are enabling
[03:03] SPEAKER_00: individuals like you and I with a little extra cash, a little savings to invest
[03:07] SPEAKER_00: in fractions of those loans. So we can start investing with a little bit of
[03:11] SPEAKER_00: money, let's say, a thousand dollars that you spread across 100, 100 borrower, for
[03:16] SPEAKER_00: example, to diversify your risk and earn the returns similar to how a bank would
[03:21] SPEAKER_00: traditionally do it. So we are revolutionizing the personal lending space and
[03:26] SPEAKER_01: making it accessible to everyone. Wonderful. And I think so you've had a couple
[03:32] SPEAKER_01: of clients, not a couple, you have close to thousands of clients from what I
[03:37] SPEAKER_01: read. It's like, what feedback have you gotten from people using this? Because it
[03:42] SPEAKER_01: might be quite a new reality for them not to have to go to a bank, but actually
[03:47] SPEAKER_01: go to someone on a secure platform and someone that you don't know will lend
[03:52] SPEAKER_01: them money and vice versa. So what do people say about this new concept?
[03:57] SPEAKER_00: Lots of things. You're right. We're still a new company. We're a few months in
[04:01] SPEAKER_00: the company. We already have a few thousands of users. And we've heard tons of
[04:05] SPEAKER_00: different feedback. I mean, we launched during the time of COVID. And if you want to
[04:11] SPEAKER_00: take out a loan of a bank, you still need to show up in person, book an appointment,
[04:15] SPEAKER_00: show up, fill out the paperwork. So I think our offering was very attractive to
[04:19] SPEAKER_00: a lot of people that did not want to take their risk of going out. And our application
[04:24] SPEAKER_00: process on the borrower side is very seamless. It takes a few minutes and you're
[04:28] SPEAKER_00: done. It's 100% technology driven. And we do all the identity verification,
[04:35] SPEAKER_00: the paperwork, the legal paperwork, income verification, and everything is automated
[04:41] SPEAKER_00: through our system. So we've received a lot of feedback where it's, you know, they
[04:47] SPEAKER_00: appreciate that there's a new service that makes loan affordable, unlike most traditional
[04:52] SPEAKER_00: non-bank lenders where their rates are incredibly high. We're bringing a lot more responsible
[04:58] SPEAKER_00: lending and affordable approach to loans outside of banks while mixing with technology to
[05:05] SPEAKER_00: making it seem less and fast. So I think we've had a lot of people appreciating that and
[05:10] SPEAKER_00: commenting on that. We're another sort of feedback we're receiving as well from our users
[05:15] SPEAKER_00: is how we're helping and helping them get out of debt. So we've got a lot of people
[05:20] SPEAKER_00: with like credit card loans, credit card balances or consolidating debt from like non-bank
[05:29] SPEAKER_00: lenders. And they come to go here and we're able to consolidate their debt we find and
[05:35] SPEAKER_00: sit in a way that they save monthly. On average, our borrower save $75 per month through
[05:42] SPEAKER_00: lower repayments. So that makes a massive difference. So that's always great to hear success
[05:48] SPEAKER_00: and stories like this or some of our clients are self-employed who have some Uber drivers that
[05:52] SPEAKER_00: have a really hard time to get funding through traditional sources. And welcome to go
[05:59] SPEAKER_00: here with our technology. We're able to underwrite their loans pretty quickly and for them attractive
[06:05] SPEAKER_00: rates. And that goes for both sides. I mean, mostly talking about the borrower side, but we've
[06:09] SPEAKER_00: got a lot of investors as well. And what we're seeing on the investor side, there's, you know,
[06:15] SPEAKER_00: people like you and I that under, you know, that just want to have some extra cash that want to start
[06:20] SPEAKER_00: saving. And what's attractive to them is that lending money, when you invest through gop
[06:26] SPEAKER_00: here essentially lending money to someone and you lend infractions of loans. So it's an investment
[06:33] SPEAKER_00: product that is very easy to understand. It's simple. Everyone knows how a loan works. So that's very
[06:40] SPEAKER_00: attractive to a lot of, you know, sort of everyday investors. And we also have some more sophisticated
[06:47] SPEAKER_00: investors, some hedge fund managers, some financial advisors and finance professionals that are
[06:52] SPEAKER_00: really attractive to the asset class, which is high yields, fixed income, monthly passive income type of
[07:00] SPEAKER_01: investment as well. So let's say we take us to back from the business itself, but like what difference
[07:07] SPEAKER_01: do you think it will make? And like you just started. So what difference do you think it will make in the
[07:12] SPEAKER_01: economy and people's life? As you say, people are saving other people are having more affordable or accessible
[07:18] SPEAKER_01: investment opportunities. Like, how will, what is your vision for shaping the economic landscape of Canada?
[07:25] SPEAKER_00: That's awesome. Well, I think wherever we are seeing like five to ten years from now, whether it's on the borrower side or
[07:32] SPEAKER_00: the investor side, our goal released to help Canadians achieve their financial objectives. And our actually our
[07:39] SPEAKER_00: ultimate goal is that we help borrowers consolidate their loan and get out of that faster through the
[07:45] SPEAKER_00: lower repayments, get out a bit faster. So that eventually they can become investors on the platform and help others do the same.
[07:52] SPEAKER_00: We're all to do this at scale across the country. That will be amazing.
[07:56] SPEAKER_01: Great. And it seems like you know a lot about the financial financial sector, especially because of your job before, but like do you see
[08:02] SPEAKER_01: yourself as a serial entrepreneur who's going to change the landscape of finance finance in Canada in many different
[08:09] SPEAKER_01: ways, or you have the vision for yourself of making the most out of go peer. Like do you have, like I know it's early, but do you have this type of
[08:18] SPEAKER_01: vision for your personal life as an entrepreneur?
[08:21] SPEAKER_00: That's a good question. Right now I'm 100% focused on go peer and I haven't really thought about what's next. I mean we're just getting started on go peer and
[08:31] SPEAKER_00: there's still so much that we can do. So that's where that's where I am right now, but definitely love the
[08:38] SPEAKER_00: entrepreneurs, entrepreneurs side of the business. On most times, sometimes I don't like it at all.
[08:44] SPEAKER_01: Yeah, what what don't you like about the entrepreneurial life right now?
[08:47] SPEAKER_00: Well, no, I mean it's just there's a lot of highs, a lot of lows, which I guess that's what you sign up for when you start your own business.
[08:57] SPEAKER_00: But overall I really enjoy the true of the you know that lifestyle, I guess account that comes with it or or the you know what's involved with with starting your own business.
[09:10] SPEAKER_01: And have you seen that you've had to develop some competencies or abilities that you might not have had in your previous career that you had to develop very quickly.
[09:22] SPEAKER_01: So yes, 100%.
[09:25] SPEAKER_00: So go peer, we operate in an area that's highly regulated. So we had to get up to speed with securities law with consumer protections statutes.
[09:37] SPEAKER_00: You know financial crime law money laundering. So the legal side was really really heavy and there was a huge learning curve in that front.
[09:46] SPEAKER_00: That was definitely could be more particular to our business for industry, but certainly something that we had to learn very quickly.
[09:55] SPEAKER_00: I think there's also a lot of leadership more style or EQ related skills as well that I've been learning and developing myself more than individual that I didn't really have in my previous role as a banker.
[10:10] SPEAKER_01: And if I were to ask your teammates like what would they say about you as a leader of the company.
[10:17] SPEAKER_00: Oh, you have to ask them.
[10:19] SPEAKER_01: Great. So you're from Quebec, you're from Quebec, you moved to Toronto for your previous career. Like do you have any plan to going and now you're in Toronto.
[10:28] SPEAKER_01: So do you have any plans going back to Quebec, your business is online. Like do you see that there is a reason why you would go you would move physically somewhere else in Canada or you think that Toronto is the place to be for running your online business.
[10:43] SPEAKER_00: Toronto is certainly is a great place for running startups, but so is Montreal. I would personally love to go back to Montreal eventually, but I fell in love in Toronto partner here so it makes a little bit harder to leave the city.
[10:56] SPEAKER_00: But hopefully I mean the startup ecosystem is very young in the country in Canada and it's growing very quickly here in Toronto. It's growing quickly Montreal. It's also going in Vancouver and in various other areas.
[11:10] SPEAKER_00: So we'll see what we are. Where will be in the future, but certainly I'd love to go back to Quebec later in my life.
[11:18] SPEAKER_01: And if you had a if you had advice to give to people like you had a good like good secure job and finance in Toronto wanting to start a business like what advice would you give them.
[11:32] SPEAKER_00: Well, I would say do it. It's amazing. I think especially if you can afford to start on the side, even launch the business while you still have your full prime job. I think that's ideal. So you've not taken that much risk.
[11:48] SPEAKER_00: I mean there's always a lot of risk involved with starting your own company, but the more you can do while you have your job. That's the best because there's always a financial aspect.
[11:59] SPEAKER_00: And if you have a partner that is understanding understanding and wants to help you going through that, I think that's really really important as well.
[12:10] SPEAKER_00: But yeah, if you have, you know, if you're if you're into something you have passion, you have the drive, I think those are probably the most important ones, then do it.
[12:19] SPEAKER_01: And is there anything that you've you know any podcasts, books, people mentors associations, you know, like any anyone or anything that help you get up to speed with, you know, like launching your business really quickly.
[12:34] SPEAKER_00: Oh, there's definitely tons. Just a few books that comes to mind very quickly. There's one that I really like. It's called hard things about hard things by Ben Horowitz. There's the high growth handbook.
[12:47] SPEAKER_00: That's very helpful as well. There's been those will call traction that I really liked.
[12:52] SPEAKER_00: In terms of podcasts, Canada podcasts is amazing. Of course, Fintech cadence, whether it was more than a Fintech space, they're also really good as well.
[13:00] SPEAKER_00: I think we have a lot of resources here in Canada and it's growing.
[13:04] SPEAKER_00: There's also a lot of programs like incubator programs, accelerator programs for the pre, you know, like the very very early stage when it's still just an idea that I go here.
[13:15] SPEAKER_00: We've been through a few and I thought that was extremely helpful.
[13:18] SPEAKER_01: And we know that like especially in Montreal, let's say for Fintech or AI or in Toronto, you know, like these programs are quite competitive. Like, what do you think help people to get this type of resource to help them to start the business like what should they say or what should they do or what should they put forward to help them get into these competitive programs.
[13:44] SPEAKER_00: I think you just need to be yourself, be authentic because at the end of the day, this is all relationships and you'll be working with those people regularly.
[13:53] SPEAKER_00: So you want to be yourself and make sure there's a good fit and it's really it's on both sides. You don't want to partner with someone that you don't like or pretend to be someone else to get selected.
[14:02] SPEAKER_00: I think to be authentic for yourself, I have a lot of passion in what you do. And yeah, if I mean if if the program is very competitive and you're not able to get in, maybe that was not the best fit for you.
[14:16] SPEAKER_00: That's actually one thing that I've learned as an entrepreneur. I did learn it way back when I was under dating scene to get rejected, but that certainly came back big time when I started to go here.
[14:29] SPEAKER_01: That's funny.
[14:31] SPEAKER_01: Where do you go? What do you do? You know, we've talked a lot about your business. We know your early stage. So I'm sure that most of your life.
[14:38] SPEAKER_01: But where do you where do you go in Toronto or what do you love to do to help you to kind of like take a step back, think maybe about your business, but actually get out of your environment to maybe think clearer.
[14:50] SPEAKER_01: Like is there something that you do or a place that you like to go for that?
[14:54] SPEAKER_00: I like to take walks. And take walks is my dog or go to the park. There's not much we can do right now, right? We're like now, Toronto's back in lockdown. So this is really not much.
[15:06] SPEAKER_01: Yeah, it's actually I agree that it's a weird question in these weird times. That's for sure.
[15:12] SPEAKER_01: Yeah, great. Well, is there anything else that you'd like to share or advice that you'd like to give to people listening to us who are maybe interested in starting their entrepreneurial journey who are in fin or or in the financial industry or in fintech and you know, they're already started, but maybe there's something that you can teach them or share with them that would make a difference.
[15:34] SPEAKER_00: Well, I think, you know, for first thing, which might be obvious, I think you shouldn't do this for the money. No, once you do this for the money, they'll be extremely disappointed.
[15:45] SPEAKER_00: Especially in the first few years.
[15:48] SPEAKER_00: But yeah, I think if you're passionate for myself, I know would regret it if I didn't try it. It's been my dreams since I'm a kid.
[15:55] SPEAKER_00: And I knew would regret it. So personally, my life was the right time to just jump right in and build your wings after you've jumped right.
[16:05] SPEAKER_00: So maybe maybe so far it's been working well for myself.
[16:09] SPEAKER_00: And it's kind of scary at first. And you're wondering if you're too bit crazy and probably a little bit above. But yeah, I think it just just do it.
[16:21] SPEAKER_01: And if people want to reach out to you to connect, ask you questions or learn more about the go peer, where should they go?
[16:28] SPEAKER_00: Yeah, they can reach out to me directly on LinkedIn or give like or go and go peer.ca and poke around and just call on the number there you can.
[16:37] SPEAKER_00: We're a small team. So I answer many of the phone calls if it's not me, they can just ask to talk to me. But yeah.
[16:43] SPEAKER_00: Yeah, and if people are interested, you can go go take a look at go peer.ca poke around. It's free to create an account whether you want to be an investor or you're looking for a loan.
[16:54] SPEAKER_00: And street poke around and we always love to add love to hear your thoughts.
[16:58] SPEAKER_01: Wonderful. Well, thanks so much for making it before taking the leap of faith and making a difference in people's life with new financial solutions.
[17:06] SPEAKER_01: So I think it's great. Good luck with your entrepreneurial journey that you started a couple of months ago. So really hope the best.
[17:14] SPEAKER_01: And thanks for being with us today.
[17:16] SPEAKER_00: Thank you so much, Sandra. Thanks for having me.
