Ratehub, Inc., Raises $12 Million
Ratehub, Inc., has raised a $12 million Series A round led by Elephant, the venture capital firm founded by Jeremiah Daly and Andy Hunt, co-founder of Warby Parker. Simon Nixon, co-founder of U.K.-based MoneySuperMarket, also participated in the funding.
Founded in 2010, Ratehub seeks to connect Canadians with the best financial products and services on the market. It owns and operates the financial product comparison site Ratehub.ca, as well as CanWise Financial, a national mortgage brokerage that funds more than $1 billion in annual mortgage volume. Ratehub is using the funds to build a digital platform that will allow Canadians to complete the entire mortgage process online. According to the company, the new digital platform will provide efficiency and simplicity to Canadian home buyers.
The new funds will be used to invest in Ratehub’s other verticals, including credit cards, deposits and insurance. In 2018, the company will launch a new suite of tools allowing Canadians to compare home, auto, and life insurance policies.
