Homewise is a Toronto-based proptech startup that helps homebuyers secure mortgages through an online platform that sources tailored options from over 30 banks and lenders across Canada. Its predictive intelligence software scans thousands of mortgage options instantaneously and pairs that output with access to human advisors by phone. The service is free to homebuyers; Homewise’s revenue comes from lenders paying a percentage of the commission. During the COVID-19 pandemic the company reported substantial growth, claiming it tripled revenue year-over-year, quadrupled site applications, and increased pre-approvals ten-fold. Mid last year Homewise secured its Canadian brokerage licence and is now available in every province and territory except Québec, where it operates via an undisclosed partner and hopes to secure a licence. The company is a 14-person team and plans to double headcount, hiring data scientists and mortgage advisors while expanding products, partnerships and brand awareness.

Total raised

$2M

Funding rounds

1

Latest round

Seed

Latest activity

Feb 2021