Progressa announces Dave Nickel joining Board of Directors

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| Source: Progressa

TORONTO and VANCOUVER, British Columbia, Sept. 11, 2017 (GLOBE NEWSWIRE) -- Vancouver-based financial technology lender Progressa announced today that the Company’s shareholders have recently authorized an increase in the size of the Company’s board and that Dave Nickel, founder of Snap Financial Group, has joined the Company’s Board of Directors and invested in the Company.

Mr. Nickel has a noteworthy career in the North American banking and specialty finance industry spanning over 26 years, where he has built and managed teams in complex operating environments. He has overseen $1B+ in small ticket lease and loan transactions across a wide range of asset and credit classes.

Mr. Nickel founded SNAP Financial Group, guiding it to become one of North America’s most successful specialty finance companies, on track to lend in excess of $1 billion per annum to businesses and consumers across North America. In 2017, Mr. Nickel worked through a successful CEO transition in SNAP, where he continues to hold a large equity stake and director seat. Mr. Nickel assembled a potent executive team, and led the business through a continuing evolution which now has the Company active in two distinct product markets of insurance premium financing, and consumer financing for home improvement loans across North America.

Mr. Nickel currently acts in board and advisory roles to successful CEOs and high net worth family offices where he can leverage his years of experience and contacts in a meaningful way. Ali Pourdad, CEO, comments: “We are excited to have Dave join our Board of Directors and his personal investment into Progressa is a tremendous vote of confidence. He is a sophisticated investor and serial entrepreneur with a track record of building company value in a variety of niche industries. We look forward to working with him to continue to build value for our shareholders.” Dave Nickel, comments:  “Progressa possesses many of the key ingredients and disciplines which will undoubtedly see positive results in the near and mid-term. Investment in talented management and other key areas of the business which provide a safe and scalable operation combined with a highly skilled and energetic management team will undoubtedly yield great results for its origination partners, customers and shareholders alike.”

About Progressa
Progressa is Canada's fastest growing financial technology lender focused on helping non-prime and near-prime Canadians seeking to improve their financial health. In just 4.5 years, the Company has helped over 14,000 Canadians 'Borrow for the Right Reasons'. We serve the over three million Canadians who have had their credit rating impacted by overdue bills and items that have gone to collections. By building a loan that fits their budget and using it to pay their overdue bills directly, we help our customers reduce their debt load and establish or rebuild their credit score and offer automatic interest rate reductions over the course of all our loans. With the help of advanced data science and analytics we can effectively and efficiently evaluate credit risk and provide loans where traditional institutions are not willing. For more information, visit www.progressa.com.

Contact:
Nancy Powroznik
Phone Number: 604-424-8953
Email: nancy.powroznik@progressa.com