It’s our pleasure to announce that LowestRates.ca has yet again made the Growth 500 list, the definitive ranking of Canada’s fastest-growing companies compiled and published annually by Canadian Business and Maclean’s magazine.
We’re the second fastest-growing financial services company in Canada and the 15th fastest-growing company overall.
“We are honoured to be on the Growth 500 ranking,” says Justin Thouin, LowestRates.ca’s co-founder and CEO. “Our team works hard to help Canadians save money, and it’s really rewarding to see our efforts pay off in such a significant way.”
This is the second consecutive year we’ve made the Growth 500. In the past, we placed on the Startup 50, Canadian Business’ ranking of the fastest-growing startups that have been around for five years or less.
Our company’s mission is to help you save time and money by allowing you to quickly compare rates on mortgages, insurance policies, and credit cards. The average Canadian who uses our site saves $600 annually on auto insurance. And last year, we saved Canadians a collective $20 million in one month alone.
Personal finance experts have long told consumers to shop around before settling on a financial product. But before rate comparison sites, it was pretty difficult to follow their advice. So, you settled for whatever your bank offered you.
Thouin founded LowestRates.ca in 2012 with his business partner, Cliff Ritter, in the spirit of levelling the playing field, so that you don’t have to be an expert in order to make smart financial decisions and find the best rates.
LowestRates.ca began in a basement office with funds of just $150,000 and two employees. Since last year, we’ve nearly doubled the size of our team — we now have 40 staff members — and we’ve grown our revenue by 750%.
We’re constantly working to improve the experience on our site so that we exceed your expectations. Another major part of our purpose is to provide informative reviews and original analysis. It can be hard to make sense of the financial services industry — we do this for a living and it still takes effort — so it’s great when we find proof that what we’re doing is actually having a real impact on the lives of Canadians.
It’s been a long journey, so you can bet we’re celebrating the news. We’ve even busted out the party hats and the balloons. The anonymous LowestRates.ca staffer may or may not be wearing a party hat while they write this post. (Party hats are awesome.)
We’d like to extend a massive thank you to everyone who’s used our site to find a better rate or read our blog (or both!). We couldn’t have done this without you!