Pineapple
Pineapple is a Mortgage Company in Canada to go to when buying a home.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
* | N/A | $1.5m | Post IPO Equity |
| Total Funding | 000k | ||
| USD | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | 21 % | (31 %) | 603 % | (84 %) | 25 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | (6 %) | (67 %) | (95 %) | (17 %) | (88 %) | (31 %) |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (8 %) | (78 %) | (112 %) | (23 %) | (123 %) | (52 %) |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article, Equity research estimates
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Pineapple Financial Inc. (NYSE American: PAPL) is a Canadian-based financial technology company operating as a mortgage brokerage network. Founded in 2015 by Shubha Dasgupta, Kendall Marin, and Drew Green, the firm was established to digitize and streamline Canada's traditionally paper-driven mortgage landscape. CEO Shubha Dasgupta brought approximately a decade of experience in the Canadian mortgage space, focusing on sales, marketing, and technology, to the company he co-founded.
The company's business model centers on empowering a network of mortgage brokers and agents with a proprietary, cloud-based technology platform. This platform provides an end-to-end ecosystem with AI-driven tools for client relationship management (CRM), deal processing, document management, and business analytics. Pineapple generates revenue through subscription services for its platform and from mortgage sales facilitated by its network. In November 2023, the company made history by becoming the first Canadian mortgage brokerage to complete an IPO on the NYSE American exchange, intending to use the capital for growth initiatives, R&D, and expansion. Following the IPO, Pineapple expanded its offerings by launching an insurance vertical, providing life, creditor, and disability insurance.
Pineapple's core service is its technology platform, designed to serve its network of over 700 mortgage brokers across Canada. A key product is Pineapple+, a proprietary end-to-end broker platform that consolidates all primary operational functions, which was developed to reduce reliance on third-party technology and decrease annual licensing costs. Another significant technology is PineappleONE, a deal management system that allows brokers to originate, manage, and submit mortgage deals to lenders from a single interface. The platform also features "Maui," an AI-powered tool that helps brokers create custom websites, biographies, and professional eSignatures. These tools aim to increase broker productivity, improve client retention, and streamline the entire mortgage process for homebuyers, from application to closing.
Keywords: mortgage technology, Canadian mortgage brokerage, fintech, digital mortgage, mortgage broker network, AI mortgage platform, Shubha Dasgupta, IPO, Pineapple Financial, PAPL, real estate finance, mortgage origination, PineappleONE, broker technology, property technology, home financing, insurance services, customer relationship management, deal management system, Renewals+ platform