New fintech alliance comes amid the Bank of Canada's oversized rate increases
Novacap, a major North American private equity firm, has entered into a partnership with Toronto-based online financial platform Ratehub.ca.
The newly minted alliance will see Novacap expanding the reach and customer base of Ratehub.ca. McCarthy Tétrault LLP acted as Novacap’s legal counsel, while Evercore served as financial advisor and Osler, Hoskin & Harcourt LLP acted as legal advisor to Ratehub.ca.
“In light of increasing mortgage rates, following the Bank of Canada’s recent rate hikes, Ratehub.ca is well positioned to continue helping households through the renewal process, as well as with new home purchases,” said Rajiv Bahl, senior partner at Novacap.
Read more: Ratehub announces rebrand of in-house brokerage
James Laird, co-CEO of Ratehub.ca, added that the company’s “transparent and frictionless” process is ideally suited for customers wrestling with the uncertainty brought about by the current economic and fiscal environment.
“With the Novacap team on board, we can build on our momentum and accelerate our growth, both organically and through acquisitions,” Laird said.
“Our commitment is to provide the best decision-making tools and products to help users make better financial decisions. This partnership is an important step for Ratehub.ca and the next step in solidifying Ratehub.ca’s position in the financial technology industry,” said Alyssa Furtado, co-CEO of Ratehub.ca.
