Canadian insurance comparison giant is about to get bigger
HelloSafe – a Canadian fintech that develops comparison tools for insurance, investment, savings, and credit products – announced that it has raised $4.2 million in seed funding.
According to the company, the funding round was led by OneRagtime and Kima Ventures. With the funding, HelloSafe plans to expand its staff roster, currently a team of 50, to include an additional 40 hires to enhance its technical, marketing, and sales departments by the end of 2023. It is hoped that this increased recruitment will allow the fintech to accelerate its deployment in other English-speaking countries.
The company also noted in a release that it will also use the funds to further enhance its current comparison solutions and develop more products in Canada.
“Despite the big differences between financial products, we see a lot of similarities in the need of our users in Canada for information and a better way to compare products and services,” said HelloSafe co-founder and CMO Pauline Laurore. “This success validates the scalability of our technology and our vision.”
“With an audience of several million visitors each year, this round of financing supports our goal to become Canada’s number one platform for comparing insurance and financial products,” added HelloSafe co-founder and CTO Oleksiy Lysogub. “With our unique technology and network of partners, we want to quickly establish ourselves as the go-to platform for consumers who want to get the most out of their money.”
“HelloSafe has an innovative and transparent value proposition. With its proprietary technology, the startup succeeds in producing high-value comparison tools, while limiting its development costs,” commented OneRagtime founder and CEO Stéphanie Hospital. “its founders’ industry experience and long-term vision make HelloSafe a solid project, promising a rapid and controlled development.”
Hospital also mentioned that the HelloSafe coach, which is powered by AI algorithms, will “revolutionize” advising financial product consumers.
Currently, five million users utilize HelloSafe’s comparison tools, which tap into the fintech’s network of over 50 partners.
