Kanetix Ltd has acquired RateSpy.com, a Toronto-based online provider of mortgage rate comparisons and news, and intelliMortgage Inc, a Toronto-based digital mortgage broker.
No financial terms were disclosed.
Kanetix, a Toronto-based digital customer acquisition platform for insurance and financial services, said the two companies joined other brands forming its online rate comparison marketplace.
Established in 1999, Kanetix was acquired last year by Ontario Teachers’ Pension Plan. The primary seller was U.S. private equity firm Monitor Clipper Partners, which bought the business in 2011.
Kanetix Ltd. acquires RateSpy and intelliMortgage Inc.
TORONTO, July 31, 2019 /CNW/ – Kanetix Ltd. announced that it has acquired Canadian mortgage comparison site and publisher of mortgage rate news, RateSpy.com, and digital mortgage broker intelliMortgage Inc. Financial terms were not disclosed.
RateSpy and intelliMortgage join Kanetix Ltd.’s family of brands that make up Canada’s largest online rate comparison marketplace for insurance and personal finance products.
The addition of these consumer websites advances Kanetix’s mission to help Canadians make better money decisions by offering a wider selection of rates from more lenders and a seamless digital mortgage application process.
“Kanetix is shaping how Canadians will buy mortgage products in this digital age,” says Igal Mayer, CEO at Kanetix Ltd. “This acquisition rounds out our mortgage offering and ensures we provide Canadians with better choices when comparing money products through our brands.”
Rob McLister joins Kanetix as Mortgage Editor where he brings his deep mortgage expertise and media experience to continue to educate and inform consumers about the mortgage industry.
“Mortgage shoppers will increasingly leverage powerful tools and data to make better mortgage decisions on their own. That’s what excites us, and joining Kanetix gets us there faster,” Mr. McLister said. “But most important, is our shared belief in total mortgage transparency. Kanetix championed RateSpy’s mission to compare mortgage deals without bias, and that’s exactly what we’ll continue doing.”
About Kanetix Ltd.
Kanetix Ltd. is Canada’s largest digital customer acquisition platform for insurance and financial services. With over 8 million users visiting their five consumer-facing brands yearly, the company works directly with the country’s top insurers, financial institutions and brokers. Kanetix Ltd.’s mission is to help every Canadian make better money decisions. Kanetix Ltd. is headquartered in Toronto, Ontario, at 360 Adelaide Street West, Suite 100, Toronto, ON, M5V 1R7.
For further information: Masha Mikey, Proof Inc. for Kanetix Ltd., firstname.lastname@example.org, (416) 969-2662; Julija Hunter, Proof Inc. for Kanetix Ltd., email@example.com, (416) 721-8790.