HelloSafe this week announced $4.2M in seed funding.
The Montreal-based financial technology startup develops insurance, investment, savings and credit product comparison solutions for individuals and businesses. The Canadian fintech firm’s seed round of capital was led by OneRagtime and Kima Ventures.
HelloSafe says the funding will be used to “strengthen its teams, further improve the user experience on its platforms, and expand into new product categories in Canada.”
Launched in 2021, HelloSafe boasts five million users “thanks to its proprietary technology, expert content, network of over 50 partners and optimized user experience,” according to a statement from the company. The company’s technology provides users expert content and financial simulators; its platform selects the best providers at the lowest prices with the best options and customer experience.
“Despite the big differences between financial products, we see a lot of similarities in the need of our users in Canada for information and a better way to compare products and services,” stated cofounder Pauline Laurie. “This success validates the scalability of our technology and our vision.”
HelloSafe plans to expand its 50-person team through 40 hires to enforce its technical, marketing, and sales departments by the end of 2023.
“With an audience of several million visitors each year, this round of financing supports our goal to become Canada’s number one platform for comparing insurance and financial products,” added cofounder Oleksiy Lysogub. “With our unique technology and network of partners, we want to quickly establish ourselves as the go-to platform for consumers who want to get the most out of their money.”
OneRagtime founder Stéphanie Hospital believes HelloSafe has “an innovative and transparent value proposition.”
“With its proprietary technology, the startup succeeds in producing high-value comparison tools, while limiting its development costs,” she explains. “Its founders’ industry experience and long-term vision make HelloSafe a solid project, promising a rapid and controlled development.”
The HelloSafe coach, powered by AI algorithms, “will revolutionize advising financial product consumers,” according to Hospital.