About Rates.ca
Rates.ca is a company based in Toronto (Canada) founded in 2014 was acquired by Kanetix in February 2015.. Rates.ca has raised $51 million across 2 funding rounds from investors including BMO, Ontario Teachers' Pension Plan and Kanetix. Rates.ca has completed 1 acquisition, including Lowest Rates. Rates.ca operates in a competitive market with competitors including Foxquilt, Surex, InsurEye, EasyInsure and CAA Manitoba, among others.
- Headquarter Toronto, Canada
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Sectors
Financial Services
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Phone
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Website
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Social
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Funding Insights of Rates.ca
Rates.ca has successfully raised a total of $51M across 2 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Last Round
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First Round
First Round
(03 Mar 2021)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2021 | Amount | Series C - Rates.ca | Valuation | Ontario Teachers' Pension Plan |
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| Mar, 2021 | Amount | Debt – Conventional - Rates.ca | Valuation |
investors |
| 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 Rates.ca
Rates.ca has secured backing from 3 investors, including institutional investors. Prominent investors backing the company include BMO, Ontario Teachers' Pension Plan and Kanetix. 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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Pension funds focused on multiple sectors
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Founded Year | Domain | Location | |
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BMO is recognized as a leading financial services provider in Canada.
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Founded Year | Domain | Location | |
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IT support services are provided to the insurance industry.
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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 Rates.ca
Rates.ca has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Lowest Rates. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
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 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Comparison platform for financial products
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2012 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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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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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Rates.ca
| 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 |
Rates.Ca Comparisons
Competitors of Rates.ca
Rates.ca 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 Foxquilt, Surex, InsurEye, EasyInsure and CAA Manitoba, 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 |
Social groups are formed via platform for insurance premium savings.
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| domain | founded_year | HQ Location |
Comparison platform for diversified insurance
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| domain | founded_year | HQ Location |
Functions as an insurance comparison and review platform.
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| domain | founded_year | HQ Location |
Online insurance broker platform
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| domain | founded_year | HQ Location |
Offers membership benefits including roadside assistance, travel planning, insurance, and automotive services.
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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 Rates.Ca
Frequently Asked Questions about Rates.ca
When was Rates.ca founded?
Rates.ca was founded in 2014 and raised its 1st funding round 7 years after it was founded.
Where is Rates.ca located?
Rates.ca is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
Is Rates.ca a funded company?
Rates.ca is a funded company, having raised a total of $51M across 2 funding rounds to date. The company's 1st funding round was a Series C of $51M, raised on Mar 03, 2021.
What does Rates.ca do?
Rates.ca provides an online insurance comparison platform for individuals. It offers quotes for auto insurance, travel insurance, life insurance, home insurance, health insurance, and more. It also offers an investment and bank account comparison platform.
Who are the top competitors of Rates.ca?
Rates.ca's top competitors include Foxquilt, Kanetix.ca and EasyInsure.
How many acquisitions has Rates.ca made?
Rates.ca has made 1 acquisition, including Lowest Rates.
Who are Rates.ca's investors?
Rates.ca has 3 investors. Key investors include BMO, Ontario Teachers' Pension Plan, and Kanetix.