About HomeEquity Bank
HomeEquity Bank is a company based in Toronto (Canada) founded in 1986 was acquired by Ontario Teachers' Pension Plan in September 2021.. HomeEquity Bank offers products and services including CHIP Reverse Mortgage and Income Advantage. HomeEquity Bank operates in a competitive market with competitors including Brightpath Capital, Simply Group, InstaFund, Iceberg Finance and EQRAZ, among others.
- Headquarter Toronto, Canada
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Homeequity Bank
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Annual Revenue
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Net Profit
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EBITDA
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Latest Funding Round
$120 M (USD), Debt – Conventional
Aug 29, 2017
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Investors
Birch Hill Equity Partners
& 1 more
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Employee Count
Employee Count
- Acquired by
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Products & Services of HomeEquity Bank
HomeEquity Bank offers a comprehensive portfolio of products and services, including CHIP Reverse Mortgage and Income Advantage. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Allows homeowners 55+ to access tax-free cash from home equity.
Supplements income for retirees without monthly payments.
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Leadership Team
17 people
Sales and Marketing
16 people
Software Development Team
13 people
Finance and Accounting
8 people
Senior Team
4 people
Human Resources and Administration
3 people
Manager Team
2 people
Product Management Team
1 people
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Funding Insights of HomeEquity Bank
- Total Funding Total Funding
- Total Rounds 1
- Last Round Debt – Conventional — $120.0M
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First Round
First Round
(29 Aug 2017)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2017 | Amount | Debt – Conventional - HomeEquity Bank | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in HomeEquity Bank
HomeEquity Bank has secured backing from 2 investors, including institutional and venture fund investors. Prominent investors backing the company include Birch Hill Equity Partners and Ontario Teachers' Pension Plan. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Private equity investments are directed toward growth-stage companies across sectors.
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Founded Year | Domain | Location | |
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Pension funds focused on multiple sectors
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by HomeEquity Bank
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - HomeEquity Bank
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Homeequity Bank Comparisons
Competitors of HomeEquity Bank
HomeEquity Bank operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Brightpath Capital, Simply Group, InstaFund, Iceberg Finance and EQRAZ, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Provider of home loans
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| domain | founded_year | HQ Location |
Home loan financing services are provided to residential clients.
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| domain | founded_year | HQ Location |
Mortgage loans are provided by InstaFund in Canada.
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| domain | founded_year | HQ Location |
Provides financing solutions for automobiles, personal loans, and insurance products to consumers.
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| domain | founded_year | HQ Location |
Provides comprehensive home loan financing services to individuals.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Homeequity Bank
Frequently Asked Questions about HomeEquity Bank
When was HomeEquity Bank founded?
HomeEquity Bank was founded in 1986 and raised its 1st funding round 31 years after it was founded.
Where is HomeEquity Bank located?
HomeEquity Bank is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
What does HomeEquity Bank do?
HomeEquity Bank was founded in 1986 in Toronto, Canada, within the financial services sector. Home loans, including equity-based options, are offered to support homeowner financing needs. Operations are conducted primarily through digital and branch channels across Canada. The companys domain, homeequitybank.ca, facilitates access to these services. Focus remains on residential lending, with activities regulated under Canadian banking standards.
Who are the top competitors of HomeEquity Bank?
HomeEquity Bank's top competitors include Simply Group, Brightpath Capital and InstaFund.
What products or services does HomeEquity Bank offer?
HomeEquity Bank offers CHIP Reverse Mortgage and Income Advantage.
Who are HomeEquity Bank's investors?
HomeEquity Bank has 2 investors. Key investors include Birch Hill Equity Partners, and Ontario Teachers' Pension Plan.