- The deal marks the fifth platform acquisition of Novacap’s debut financial services fund
- The investment will accelerate Ratehub.ca’s growth both organically and through acquisitions
- Ratehub.ca’s two business platforms attract more than 19 million users per year
Novacap has completed an investment in Ratehub.ca, Canada’s largest online marketplace for financial services. Headquartered in Toronto Ratehub.ca provides customers with price comparisons on financial products such as credit cards, insurance products and mortgages. The company also has an educational platform, Moneysense.ca. The two platforms attract more than 19 million users per year.
Novacap is a Canadian private equity firm with offices in Montreal and Toronto. It has invested in more than 100 platform companies and completed more than 150 add-on acquisitions. It has over C$6 billion in assets under management.
The deal marks the fifth platform acquisition of Novacap’s debut financial services fund. PE Hub reported on the C$417 million close of the fund in September 2021.
”When Alyssa (Furtado, co-CEO) and James (Laird, co-CEO) launched Ratehub.ca, they identified an underserved market, pioneered a new business model and created an impressive brand,” said Marcel Larochelle, managing partner of Novacap. “Today, Ratehub.ca is helping millions of Canadians achieve their financial goals, paving the way for home ownership and other important projects by providing access to credit and financial solutions in a simple, cost-effective and user-friendly manner. We are a natural fit, sharing the same entrepreneurial spirit and passion for implementing innovative solutions.”
“With the Novacap team on board, we can build on our momentum and accelerate our growth, both organically and through acquisitions,” said James Laird Co-CEO of Ratehub.ca.
“This partnership is an important step for Ratehub.ca and the next step solidifying Ratehub.ca’s position in the financial technology industry.” said Alyssa Furtado, Co-Chief Executive Officer of Ratehub.ca.