IPO Capital to Fund Growth Initiatives,
R&D, New Products and Technology Innovations, and
Geographic Expansion
TORONTO, Nov. 15,
2023 /PRNewswire/ - Pineapple Financial Inc. (NYSE
American: PAPL), a tech-focused mortgage brokerage with an
integrated network of partner brokerages and agents across
Canada, made history last week by
becoming the first Canadian mortgage brokerage to launch an Initial
Public Offering (IPO) on the prestigious New York Stock Exchange
(NYSE American).
Pineapple plans to use the capital raised from its IPO to fund
growth initiatives, research and development, and expansion into
new product offerings and technology infrastructure.
These efforts will enable the company to develop new digital
innovations in the mortgage industry and provide seamless customer
experiences for all Canadians. The IPO will also support Pineapple
Financial Inc.'s growth and expansion into new markets. This
includes but is not limited to:
- Expanding the business into every province across Canada
- Adding insurance as a product offering to consumers
- Developing new technology and digital innovation that will
increase productivity and efficiency across all channels
- Exploring new avenues of artificial intelligence (AI) and
machine learning to create new opportunities for stakeholders while
accelerating the company's journey forward
"The decision to go public was driven by our vision to expand
market reach, accelerate growth initiatives, and capitalize on new
opportunities," said Shubha
Dasgupta, Pineapple CEO & Co-Founder. "With this
successful IPO, Pineapple achieved a milestone that reflects its
market potential, growth trajectory, and our commitment to
excellence."
Pineapple President, COO and Co-Founder Kendall Marin added, "The company is now
well-positioned to leverage the capital to invest in research and
development, expand its product offering, and further enhance its
industry-leading technology infrastructure."
In addition, he said, the IPO may act as a powerful catalyst for
increasing visibility and raising the profile and importance of the
Canadian mortgage industry internationally.
"We are extremely proud to be the first Canadian mortgage
brokerage to IPO on an American stock exchange," said Christa Mitchell, Pineapple Chief Strategy
Officer. "We plan to reinvest back into the growth and stability of
the industry to strengthen the position of the Canadian mortgage
landscape."
Since its founding in 2016, Pineapple has rapidly expanded its
presence across Canada and built a
network of over 650 agents. In addition, the company has donated
significantly to charitable organizations while also making
significant advancements in the industry. Pineapple has also won
several awards, including the 2023 Award for Digital Innovation in
a Brokerage.
About Pineapple
Pineapple is a leader in the Canadian
mortgage industry, breaking the mold by focusing on both the
long-term success of agents and brokerages, as well as the overall
experience of homeowners. With approximately 650 brokers within the
network, Pineapple utilizes cutting-edge cloud-based tools and
AI-driven systems to enable its brokers to help Canadians realize
their ultimate dream of owning a home. Pineapple is active within
the community and is proud to sponsor charities across Canada to improve the lives of fellow
Canadians.
For Pineapple Financial Inc. Company updates, please follow
us on social media:
Instagram: @pineapplemortgage @empoweredbypineapple
Facebook: Pineapple Mortgage
LinkedIn: Pineapple Mortgage
Twitter: Pineapple Mortgage
Related Links:
https://gopineapple.com
http://empoweredbypineapple.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/pineapple-financial-inc-becomes-first-canadian-mortgage-brokerage-to-complete-ipo-on-new-york-stock-exchange-nyse-american-301985146.html
SOURCE Pineapple Financial Inc.