FinTech

LowestRates.ca named one of Canada's fastest-growing companies

By: LowestRates.ca Staff on September 13, 2018

Six years ago, we set out with a simple goal: to create a website that would allow Canadians to compare financial products and save time and money.

Canadians loved the idea, because a lot of them have flocked to LowestRates.ca in the past six years.

Creating our website was a labour of love. We spent countless days and evenings adding informative articles, building relationships with broker partners and developing and designing our site to be a user-friendly experience.

That’s why we’re so thrilled to be acknowledged by Canadian Business as the 11th Fastest-Growing Company in Canada, based on their Growth 500 ranking. The rankings are released every year, and as the name implies, tracks the country’s fastest growing firms based on revenue.

"The team at LowestRates.ca is incredibly honoured and excited to be ranked so highly on the Growth 500," says Justin Thouin, co-founder and CEO of LowestRates.ca. "It's a huge accomplishment to grow so much organically, without the help of any acquisitions or outside funding, in such a short time. We're looking forward to continuing our growth and our mission of helping Canadians save money and make smarter financial decisions."

LowestRates.ca’s success story started in 2012, when co-founders Justin Thouin and Cliff Ritter launched the company with starting funds of just $150,000. Since then, revenue has grown 4,905% and the team has expanded to 25 employees, based mostly in Toronto.

Six years ago, we set out with a simple goal: to create a website that would allow Canadians to compare financial products and save time and money

What we’re most proud of, however, is the amount of Canadians who use our site to save money — and just how much money they’re saving.

A recent survey of our users found that we save the average Canadian who uses our site $600 annually on auto insurance. We’re still collecting data on how much we’re saving people on other products we compare, like mortgages, credit cards and home insurance.

But In August alone, we calculated that all the quotes received on our website added up to a collective $20 million in savings for Canadians.

This year has been an exciting one for our company. On top of making the Growth 500, we’ve grown our team by 50% and are moving into a brand new, open concept office at Yonge and Davisville later this month.

We’re also planning to offer even more financial products to compare for Canadians in the coming year — keep an eye out!

Finally, we just want to take a moment and thank everyone who’s used our site since we launched. We couldn’t have done it without you. Here’s to saving Canadians even more money in the years ahead.

 

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