TORONTO, May 22, 2024
/PRNewswire/ - Pineapple Financial Inc. (NYSE American: PAPL),
("the Company" or "Pineapple"), a tech-focused mortgage brokerage
with an integrated network of affiliate brokerages and agents
across Canada, today announced the
addition of six affiliate mortgage brokerages to its network in
Ontario, Canada.
Pineapple provides its users (mortgage brokers) with diverse
avenues through which they can access and leverage its platform and
services. Mortgage brokers can opt to operate independently under
its corporate brand or collaborate as affiliate partners, enabling
independently licensed mortgage brokerage firms to access and
benefit from Pineapple's full suite of tools and services while
retaining their brand and identity. This strategic approach allows
Pineapple to extend its services across broader markets,
efficiently reach a more extensive user base, and scale the
business exponentially.
In the 2023 fiscal year, the Pineapple affiliate broker network
comprised 36.8 percent of Pineapple's total funded volume, equating
to 36.8 percent of overall revenue. The Company's affiliate network
was 19, and now 25 independently licensed firms that white-label
its solutions to create better efficiencies and technology
enablement for their businesses and clients. With the addition of
six affiliate brokerages, Pineapple anticipates significant growth
in both revenue and volume.
The six brokerages joining Pineapple's affiliate network
are:
- CRE Capital Canada, led by Anne Ananda, Principal Broker, Toronto, Ontario.
- Top Notch Financial, led by Judith Virgo, Principal Broker, Maple, Ontario.
- Tailored Finance Inc., led by Sharmain Foster, Principal Broker,
Uxbridge, Ontario.
- PrimeRock Capital Corp., led by Tayo Adedapo, Principal Broker, and David Asaam,
Managing Partner, Windsor,
Ontario.
- Reign Mortgage Group Inc., led by Zorie Campbell, Principal Broker,
Oshawa, Ontario.
- Newcastle Financial, led by Amit Mistry, Principal Broker, Toronto, Ontario.
Each of these brokerages brings a wealth of experience,
expertise, and a commitment to excellence in serving clients'
mortgage needs. By aligning with Pineapple, they signal their
dedication to providing unparalleled service and access to a
diverse range of commercial and residential mortgage products
tailored to the unique requirements of individuals and families
throughout Ontario.
"We are thrilled to welcome these six exceptional brokerages to
our network," said Christa Mitchell,
Pineapple Chief Strategy Officer. "Their addition underscores our
commitment to delivering exceptional mortgage technology solutions
and further strengthens our ability to serve clients across
Ontario. We look forward to
collaborating closely with our new partners to empower
homeownership dreams and financial goals."
Pineapple's network expansion also reflects its ongoing efforts
to leverage AI-driven technology to streamline clients' mortgage
processes. Through these AI initiatives, the company aims to
continue delivering personalized mortgage solutions that cater to
the evolving needs of borrowers in Ontario.
"We are confident that our collaboration with these six new
brokerages will lead to remarkable achievements and drive revenue
in 2024," stated Pineapple CEO Shubha
Dasgupta. "Pineapple remains committed to supporting our
partners' growth and success as we expand across Canada."
For more information about Pineapple Financial Inc. and its
network of affiliate brokerages, please visit
https://gopineapple.com/brokers/brokerage-partners.
About Pineapple
Financial:
Pineapple is an award-winning fintech and leading Canadian
mortgage brokerage network. It focuses on the long-term success of
agents and brokerages and the overall experience of homeowners.
With approximately 700 brokers within the network, Pineapple
creates cutting-edge cloud-based technology and AI-driven systems
to enable its brokers to help Canadians realize their 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.
Follow us on social media:
Instagram: @pineapplemortgage @empoweredbypineapple
Facebook: Pineapple Mortgage
LinkedIn: Pineapple Mortgage
SOURCE: Pineapple Financial Inc. (NYSE American:
PAPL)
Safe Harbor Forward-Looking Statements
Certain statements in this announcement are forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties and are based on the Company's
current expectations and projections about future events that the
Company believes may affect its financial condition, results of
operations, business strategy and financial needs. Investors can
identify these forward-looking statements by words or phrases such
as "may," "will," "expect," "anticipate," "aim," "estimate,"
"intend," "plan," "believe," "is/are likely to," "potential,"
"continue" or other similar expressions. The Company undertakes no
obligation to update or revise publicly any forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations that arise after the date hereof,
except as may be required by law. These statements are subject to
uncertainties and risks including, but not limited to, the
uncertainties related to market conditions and the completion of
the initial public offering on the anticipated terms or at all, and
other factors discussed in the "Risk Factors" section of the
registration statement filed with the SEC. Although the Company
believes that the expectations expressed in these forward-looking
statements are reasonable, it cannot assure you that such
expectations will turn out to be correct, and the Company cautions
investors that actual results may differ materially from the
anticipated results and encourages investors to review other
factors that may affect its future results in the Company's
registration statement and other filings with the SEC. Additional
factors are discussed in the Company's filings with the SEC, which
are available for review at www.sec.gov.
Related Links:
https://gopineapple.com
http://empoweredbypineapple.com
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SOURCE Pineapple Financial Inc.