Pineapple Financial Inc. Adds Six Brokerages to Its Affiliate Network

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May 22, 2024, 08:05 ET

TORONTO, May 22, 2024 /PRNewswire/ - Pineapple Financial Inc. (NYSE American: PAPL), ("the Company" or "Pineapple"), a tech-focused mortgage brokerage with an integrated network of affiliate brokerages and agents across Canada, today announced the addition of six affiliate mortgage brokerages to its network in Ontario, Canada.

Pineapple Financial Inc. | NYSE American: PAPL (CNW Group/Pineapple Financial Inc.)

Pineapple provides its users (mortgage brokers) with diverse avenues through which they can access and leverage its platform and services. Mortgage brokers can opt to operate independently under its corporate brand or collaborate as affiliate partners, enabling independently licensed mortgage brokerage firms to access and benefit from Pineapple's full suite of tools and services while retaining their brand and identity. This strategic approach allows Pineapple to extend its services across broader markets, efficiently reach a more extensive user base, and scale the business exponentially.

In the 2023 fiscal year, the Pineapple affiliate broker network comprised 36.8 percent of Pineapple's total funded volume, equating to 36.8 percent of overall revenue. The Company's affiliate network was 19, and now 25 independently licensed firms that white-label its solutions to create better efficiencies and technology enablement for their businesses and clients. With the addition of six affiliate brokerages, Pineapple anticipates significant growth in both revenue and volume.

The six brokerages joining Pineapple's affiliate network are:

CRE Capital Canada, led by Anne Ananda, Principal Broker, Toronto, Ontario.
Top Notch Financial, led by Judith Virgo, Principal Broker, Maple, Ontario.
Tailored Finance Inc., led by Sharmain Foster, Principal Broker, Uxbridge, Ontario.
PrimeRock Capital Corp., led by Tayo Adedapo, Principal Broker, and David Asaam, Managing Partner, Windsor, Ontario.
Reign Mortgage Group Inc., led by Zorie Campbell, Principal Broker, Oshawa, Ontario.
Newcastle Financial, led by Amit Mistry, Principal Broker, Toronto, Ontario.

Each of these brokerages brings a wealth of experience, expertise, and a commitment to excellence in serving clients' mortgage needs. By aligning with Pineapple, they signal their dedication to providing unparalleled service and access to a diverse range of commercial and residential mortgage products tailored to the unique requirements of individuals and families throughout Ontario.

"We are thrilled to welcome these six exceptional brokerages to our network," said Christa Mitchell, Pineapple Chief Strategy Officer. "Their addition underscores our commitment to delivering exceptional mortgage technology solutions and further strengthens our ability to serve clients across Ontario. We look forward to collaborating closely with our new partners to empower homeownership dreams and financial goals."

Pineapple's network expansion also reflects its ongoing efforts to leverage AI-driven technology to streamline clients' mortgage processes. Through these AI initiatives, the company aims to continue delivering personalized mortgage solutions that cater to the evolving needs of borrowers in Ontario.

"We are confident that our collaboration with these six new brokerages will lead to remarkable achievements and drive revenue in 2024," stated Pineapple CEO Shubha Dasgupta. "Pineapple remains committed to supporting our partners' growth and success as we expand across Canada."

For more information about Pineapple Financial Inc. and its network of affiliate brokerages, please visit https://gopineapple.com/brokers/brokerage-partners.

About Pineapple Financial:

Pineapple is an award-winning fintech and leading Canadian mortgage brokerage network. It focuses on the long-term success of agents and brokerages and the overall experience of homeowners. With approximately 700 brokers within the network, Pineapple creates cutting-edge cloud-based technology and AI-driven systems to enable its brokers to help Canadians realize their dream of owning a home. Pineapple is active within the community and is proud to sponsor charities across Canada to improve the lives of fellow Canadians.

Follow us on social media:
Instagram: @pineapplemortgage @empoweredbypineapple
Facebook: Pineapple Mortgage
LinkedIn: Pineapple Mortgage

SOURCE: Pineapple Financial Inc. (NYSE American: PAPL)

Safe Harbor Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.

SOURCE Pineapple Financial Inc.