Vancouver B.C. startup Fraction expands home loan platform to U.S. homeowners

Fraction, a Vancouver, B.C.-based startup that gives people access to a home equity line of credit, is expanding beyond Canada and into Washington state. Fraction automates the mortgage application process and allows homeowners to convert up to 50% of their home equity into tax-free cash. It makes money off loans and fees based on a property’s value. Founded in 2018, the 35-person company is led by CEO Hayden James and has raised more than $300 million in debt and equity.