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Ratehub.ca Inc.

From EverybodyWiki Bios & Wiki

Ratehub.ca Inc. is a free online platform for Canadians to find and compare financial products ( mortgages, credit cards, and insurance) offered by various institutions. Through payment calculations and rate analysis, users get a personalized recommendation and financial breakage advisory from CanWise Financial, which is owned and operated by Ratehub Inc. [1]

Ratehub.ca Inc.
Ratehub.ca Inc. logo
Type
Private
IndustryFinancial Services
Founded 📆September 2010; 10 years ago (2010-09)
Founder 👔
  • Alyssa Richard
  • James Laird
Headquarters 🏙️,
Toronto, Ontario
,
Area served 🗺️
Members
Number of employees
65[2] (2019[2])
SubsidiariesMoneySense
Websiteratehub.ca
address
telephone

History[edit]

Ratehub.ca was founded in 2010 by Alyssa Richard.[3] Prior to launching Ratehub in 2010, Alyssa worked in the U.S. as a financial services consultant. [4] She used her experience in financial services paired with her passion for education and teaching to become an entrepreneur, helping Canadians make better mortgage decisions.[5]

In 2016, Alyssa appeared on the Dragon’s Den[6] and where she pitched a $1 million dollar deal for 10% of her company. She received multiple offers and ended up getting a $1million dollar deal for 7% equity in the company, which she later declined for venture funding.[7]

In 2016 Ratehub received $495,000 in funding through the National Research Council of Canada.[8]

In 2018 Ratehub looked to the venture market for funding and received a financing deal for $12-million from Elephant Partners LP in Boston, founded by Jeremiah Daly and Andy Hunt.[9][10][11]

In 2018, following the shut down of its personal finance magazine MoneySense, Rogers Communications sold the intellectual property assets including "moneysense.ca" domain name and past article content to Ratehub for an undisclosed amount, which Ratehub repurposed as an online personal finance blog of the same name.[12][13][14]


Criticism[edit]

In 2014, Ratehub announced a new virtual brokerage that will be headquartered in Toronto.[15] This caused some controversy causing True North Mortgages to pull its support due to James Laird now controlling more than 50% of Ratehub’s stock. The True North Mortgage Board didn't feel the fairness and integrity of RateHub.ca could be maintained.[16]

References[edit]

  1. "Ratehub.ca". Ivey Business School. Retrieved 2019-09-27.
  2. 2.0 2.1 Ratehub.ca
  3. "Ratehub.ca". Crunchbase. Unknown parameter |url-status= ignored (help)
  4. "First-time home buyers: Wary, web savvy researchers | The Star". thestar.com. Retrieved 2019-09-27.
  5. "RateHub empowering Canadians to make better mortgage decisions". Canadian Internet Registration Authority (CIRA). Retrieved 2019-09-27.
  6. "Season 11: Ratehub". CBC Dragon's Den. Unknown parameter |url-status= ignored (help)
  7. Entrepreneur; Startups, F. P. (2016-10-06). "Hot real estate market cools RateHub's need for financing deal made on Dragons' Den | Financial Post". Retrieved 2019-09-27.
  8. Wood, Eric Emin. "How RateHub secured nearly $500K in support from the federal government". IT Business. Retrieved 2019-09-27.
  9. "Ratehub taps $12-million in venture funding from Boston-based Elephant Partners LP". Retrieved 2019-09-27.
  10. "RateHub raises $12 million Series A to build end-to-end mortgage platform". BetaKit. 2018-01-15. Retrieved 2019-09-27.
  11. "Ratehub Picks Up $12 Million Series A Round". Techvibes. Retrieved 2019-09-27.
  12. Telecom; Media (2018-11-29). "Rogers sells personal finance website MoneySense to Ratehub for undisclosed amount | Financial Post". Retrieved 2019-09-27.
  13. Press, The Canadian (2018-11-29). "Rogers sells personal finance site MoneySense to Ratehub - BNN Bloomberg". BNN. Retrieved 2019-09-27.
  14. "Rogers sells MoneySense to Ratehub; terms undisclosed". toronto.citynews.ca. Retrieved 2019-09-27.
  15. McLister, Robert (2014-07-11). "RateHub to Launch a Mortgage Brokerage". Mortgage Rates & Mortgage Broker News in Canada. Retrieved 2019-09-27.
  16. Henry, Jamie. "True North no longer advertising on RateHub.ca". Mortgage Broker news. Retrieved 2019-09-27.


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