Toronto’s Ratehub.ca has received a “major” investment from Canadian private equity firm Novacap.
While Novacap announced the relationship as a ‘partnership’, BetaKit confirmed that the North American private equity firm actually acquired a majority stake in Ratehub.ca.
Ratehub.ca is an online financial marketplace that provides Canadians with price comparisons on financial products like mortgages, credit cards, insurance products and more. Ratehub.ca also offers Canadians access to in-house mortgage, auto insurance and home insurance brokers.
Founded in 2010 by Alyssa Furtado and James Laird, Ratehub.ca is Canada’s leading platform for consumer education, financial transparency and online shopping for financial products.
Ratehub.ca’s educational platform, Moneysense.ca, is Canada’s leading resource for financial education content. Together, the two platforms attract more than 19 million users per year.
Novacap described the transaction as its fifth platform acquisition of Novacap’s first financial services fund.
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