Pineapple Bolsters Brokerage Network as Toronto Fintech Disrupts Mortgages in Canada

Ontario-born financial technology firm Pineapple recently announced the addition of six affiliate mortgage brokerages to its network.

“We are thrilled to welcome these six exceptional brokerages to our network,” stated Christa Mitchell, chief of strategy for Pineapple.

Toronto’s Pineapple Financial operates a mortgage firm with an integrated network of partner brokerages and agents across Canada. Among other homeowner-oriented features, the company’s platform offers an online application system that enables borrowers to discover how much mortgage they can afford, get a pre-qualification breakdown, and download a PDF to share with their realtor when looking for a new home.

The addition of new brokerages to Pineapple’s network “underscores our commitment to delivering exceptional mortgage technology solutions and further strengthens our ability to serve clients across Ontario,” Mitchell said.

“We look forward to collaborating closely with our new partners to empower homeownership dreams and financial goals,” the CSO stated.

In the 2023 fiscal year, the Pineapple affiliate broker network contributed 37% of overall company revenue. Pineapple’s affiliate network now sits at 25 independently licensed firms using white-label solutions, up from 19.

“We are confident that our collaboration with these six new brokerages will lead to remarkable achievements and drive revenue in 2024,” stated Pineapple CEO Shubha Dasgupta.

The brokerages joining Pineapple’s affiliate network include CRE Capital Canada, Top Notch Financial, Tailored Finance, PrimeRock Capital, Reign Mortgage Group, and Newcastle Financial.

Pineapple last year secured the 27th position on The Globe and Mail’s list of Canada’s fastest-growing companies, posting a three-year growth rate of 1,452% before going public on NYSE American in November.

“Pineapple remains committed to supporting our partners’ growth and success as we expand across Canada,” Dasgupta said.

For example, in December the fintech opened an office in Coquitlam to service the sizeable Metro Vancouver market.

Pineapple was established in 2016.