Vancouver, BC. September 01, 2021 – Marble Financial Inc. (CSE: MRBL; OTC: MRBLF; FSE:2V0) (“Marble” or the “Company”), an AI-driven financial technology company that educates and helps Canadians better understand and manage their current cash flow and credit towards a better financial future, announces interim consolidated finances statements (the “Interim Financial Statements”) and management’s discussion and analysis (“MD&A”) for Q2 2021, representing the three months ended June 30, 2021. Copies of the Interim Financial Statements and MD&A are available on the Company’s website and profile on SEDAR.

“The second quarter of 2021 was an extremely strategic period to help shape the growth of Marble. Building Canada’s most advanced virtual financial wellness solution, MyMarble, we have further expanded the reach of our services to millions of Canadians through key partnerships and acquisition,” said Karim Nanji, Marble CEO. “The groundwork we have completed behind the scenes, along with the acquisition of Inverite, our B2B bank verification and risk scoring SaaS solution, paves the way for continual user growth and revenue for the balance of the year and beyond. Inverite has helped Marble accelerate larger key partnerships that we expect to close and announce throughout the balance of the year.”

Financial Highlights

  • Marble’s total revenue for the three- and six-months ending June 30, 2021 over the same periods in 2020 were $269,910 and $453,368, an increase of 206% and 160% respectively.
  • Accelerating its MyMarble subscription revenue, Marble achieved quarterly revenue of $78,265 in Q2 2021, compared to $44,098 in the same period in 2021, an increase of 77%.
  • Marble generated interest revenue from its Fast-Track loan portfolio of $167,993 in Q2 2021 (2020 – $185,948). The decrease is primarily due to a lower number of consumer loans outstanding during the period. The Company anticipates with the $10 million credit facility agreement entered into with Cypress Hills Partners Inc. that it will be able to re-start its Fast-Track loan program.
  • Inverite, acquired on April 12, 2021, generated $125,298 in Q2 2021 (2020 – $nil) of verification fees from its data verification technology.
  • Marble administration costs during Q2 2021 were $495,094 (2020 – $146,451) which increased from the prior year due to the growth of the operations, including the operations of Inverite acquired in April 2021, as the Company works on expanding its product offerings. Administration costs are largely comprised of office expenses, loan issuance costs, computer and technology expenses, telephone and utilities.
  • Marble incurred a net loss of $1,199,349 for the three months ended June 30, 2021 (2020 – $824,762). The increase in the loss is primarily due to increased operating expenses as the Marble incurred increased administrative costs to facilitate the growth of operations.

Business & Operation Highlights

  • Net new MyMarble members of approximately 2920, up average 5.34% month over month; total members reached 20,209 at quarter-end.
  • Inverite’s monthly transaction volume has increased from 61,992 in April to 70,529 in June, with an average transaction volume increase of 6.68% month over month.
  • Inverite’s artificial intelligence (“AI”) and machine learning has accumulated financial data on over one million Canadians for its proprietary risk scoring offered to its clients.
  • MyMarble’s Financial Literacy Platform Marble Learn saw new course enrollments of approximately 1,100, increasing the total enrollments by 55%.

Strategic Initiatives & Subsequent Events

  • In April 2021, Marble closes the acquisition of Inverite.

  • In April 2021, Marble further expands its affiliate program with Fintel Connect gaining access to its 1,200+ publisher network to increase qualified lead generation.
  • In April 2021, Marble launches a performance marketing program with 55Rush and its Parent Life Network.
  • In May 2021, Marble expanding its product offerings on the MyMarble Platform with the launch of a GIC Savings Loan with Jenson Graf Risk Management Inc.
  • In May 2021, Marble’s subsidiary, Inverite announces product and security enhancement compliance with SOC 2 Type 1 Standards.
  • In June 2021, Marble announces its first digital API integration (Marble Connect) with Nuborrow.
  • In June 2021, Marble launches a new Marketing program with Venngo as its first financial wellness technology solution provider, reaching over one million consumers.
  • In June 2021, Inverite enters a data verification engagement with one of Canada’s largest powersport financing companies.


2020 was an extremely productive and metamorphic year for Marble’s business and projected financial position. With extensive technological development, substantial partner growth opportunities, and data acquisition for new net user growth and conversion, sets a solid foundation towards profitability. Marble expects to continue its investment in technological and user growth investments to spearhead substantial member and revenue growth for the balance of this year and beyond. Marble will directly focus on:

  • A continued increase in new Marble members additions.
  • Accelerated growth in business-to-business service revenue.
  • Increase in revenue through Marble Connect and Resellers including the subscription as an add-on to their own products.
  • Expansion plans to enter the US Market in Q4 2021.

About Marble Financial Inc. (CSE: MRBL; OTC: MRBLF; FSE:2V0) Marbles’ proprietary MyMarble platform utilizes the power of machine learning, data science, and artificial intelligence, in leveraging its proven data-driven strategies through technology solutions Inverite, Score-Up, Fast Track and Learn to engage in and navigate a clear path towards financial wellbeing and a meaningful credit score, since 2016, Marble is proud to have empowered thousands of marginalized consumers to a positive financial future, and we continue to establish ourselves as leaders in financial wellness through the licensing of our proprietary products on the MyMarble Platform.

For further information about Marble Financial, please visit:

Mike Marrandino, Executive Chairman

T:(855) 661-2390 ext. 104   Email: [email protected]


Caution Regarding Forward-Looking Information

This release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words believes, expects, anticipates, estimates, intends, plans, or similar expressions. Forward-looking statements are not guaranteeing of future performance. They involve risks, uncertainties and assumptions and actual results could differ materially from those anticipated. Forward looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Except for historical facts, the statements in this news release, as well as oral statements or other written statements made or to be made by Marble, are forward-looking and involve risks and uncertainties. The forward-looking information included in this release is expressly qualified in its entirety by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.