Ratehub Inc has acquired MoneySense, a personal finance media brand, from an affiliate of Canadian communications and media company Rogers Communications Inc.
Terms weren’t released for the deal, which is expected to close on December 1.
MoneySense will continue to operate as a distinct brand.
Toronto-based Ratehub, which owns Ratehub.ca, a financial product comparison site, and CanWise Financial, a mortgage brokerage, said the acquisition will increase the number of Canadians it reaches per month.
Founded in 2010 by Alyssa Furtado and James Laird, Ratehub in January raised $12 million in a Series A financing led by Elephant.
Ratehub Inc. Acquires MoneySense
Canada’s leading personal finance brands team up to connect more Canadians with advice, tools, and insights for smarter financial decisions
TORONTO, Nov. 29, 2018 /CNW/ – Today, Ratehub Inc., which connects Canadians to the best financial products in the market, announced it has acquired MoneySense, one of Canada’s leading personal finance media brands, from Rogers Media. The deal is expected to close on Dec. 1, 2018, with Ratehub Inc. and MoneySense continuing to operate as distinct brands.
More than 700,000 Canadians turn to MoneySense each month to get smart, practical advice and easy-to-follow financial tips. By joining forces with MoneySense, Ratehub Inc. will significantly increase the number of Canadians it reaches every month, helping more people accelerate their financial literacy and find the best mortgage rates, credit cards, savings accounts, GICs, and insurance products for their needs.
“At Ratehub Inc., our mission is to help Canadians make smarter financial decisions. Acquiring MoneySense was the next step in this mission, allowing us to give more Canadians the advice, tools, and insights they need to take control of their money,” said Alyssa Furtado, co-founder of Ratehub Inc. and CEO of Ratehub.ca. “We want to maintain MoneySense’s brand as a trusted source of financial advice for Canadians, and we believe it has even more room to grow.”
“Since 2016, Ratehub Inc. has partnered with MoneySense to bring our credit card comparison tools to Canadians. We see this acquisition as a way to extend our partnership even further and bring Canadians more comparison tools in areas such as mortgages, investing and savings vehicles, and insurance products,” said James Laird, co-founder of Ratehub Inc. and President of CanWise Financial. “Core to the Ratehub Inc. mission is showing Canadians they have the option to make financial choices outside of just the big banks. Through the MoneySense acquisition, we are further establishing Ratehub Inc. as Canadians’ first choice when seeking new financial products, putting us on the path to becoming the number one personal finance destination in Canada.”
In January 2018, Ratehub Inc. announced it had raised a $12 million Series A investment to accelerate its growth and to become the most trusted personal finance brand in Canada. Acquiring MoneySense is the next step in Ratehub Inc.’s journey of empowering more Canadians in improving their financial lives.
“It was important to us to find a good home for MoneySense, where the brand would continue to flourish and deliver high-quality content,” said Rick Brace, President, Rogers Media. “There is a strong connection between MoneySense and Ratehub Inc., with both focusing on helping consumers make smart financial decisions.”
About Ratehub Inc.
Ratehub Inc. connects Canadians to the best financial products on the market through its financial product comparison site, Ratehub.ca, and mortgage brokerage, CanWise Financial. More than five million Canadians visit Ratehub.ca every year to get personalized recommendations on the best mortgage rates, credit cards, savings accounts, GICs, and insurance products. CanWise Financial’s experienced mortgage professionals guide Canadian homebuyers through the mortgage process, helping them choose the most appropriate lender at the best rate. As a trusted source of financial transparency and information, Ratehub Inc. empowers Canadians to make smart financial decisions. To learn more, visit www.ratehub.ca or www.canwise.com.
For further information: Ratehub.ca, Candice So, Senior Communications Manager, [email protected], (647) 853-9305