Pineapple Financial Inc. Continues Expansion with Affiliate Brokerage, Mortgage Simplicity

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Feb 21, 2024, 08:05 ET

TORONTO, Feb. 21, 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 Mortgage Simplicity to its network of affiliated brokerages.

This addition to its roster of 24 affiliate brokerages strengthens Pineapple's position as an industry leader in the mortgage industry, advancing its expansion efforts and enhancing the Company's revenue streams.

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

Founded by June Psarros and April Williams, Mortgage Simplicity anticipates recruiting additional brokers in the coming months, with the shared goal of expanding market influence and driving growth and success through Pineapple's advanced technology and support services.

Speaking about their decision to join Pineapple, Ms. Psarros highlighted the Pineapple network's collaborative technology, supportive culture and comprehensive services, including onboarding assistance, daily payroll with one-day EFT, and cross-province deal submission. She also emphasized the invaluable guidance provided by Pineapple in transitioning her team into a brokerage, a milestone that enhanced its ability to grow and expand operations.

"With a focus on fostering strong relationships with realtor partners and providing education aimed at empowering its mortgage agents and clients, especially first-time homebuyers in the area, Mortgage Simplicity has thrived in a recent challenging market and attracted a dedicated team of twelve professionals," said Ms. Psarros

Ms. Psarros and Ms. Williams said they plan to further expand their team and increase their office footprint this year. "We are excited to embark on this new chapter with Pineapple and are confident that our partnership will lead Mortgage Simplicity to greater success," remarked Ms. Psarros. "Our expansion plans signify our commitment to providing top-notch service to our clients and arming them with the information they need to achieve their homeownership dreams."

The brokerage aims to prioritize broker and client education to drive positive revenue growth through these efforts. "Our new office location will feature a larger training room reflecting our commitment to supporting our brokers through continuous education that enhances the service quality they provide to their clients," added Ms. Williams.

Ms. Williams also emphasized their commitment to supporting their team's ongoing development by utilizing Pineapple's cutting-edge training technology; the industry's first digital Learning Management System (LMS) and the largest digital database of mortgage information in Canada. "This partnership will propel our business forward by providing the technology and resources needed to thrive in today's dynamic mortgage market."

"We are confident that our collaboration will lead to remarkable achievements and drive positive change in the mortgage industry," stated Pineapple Chief Strategy Officer Christa Mitchell. "This partnership not only represents our commitment to growth and dedication to our broker partners' success through advanced technology and white glove support but also highlights the pivotal role they play in driving our success as we expand nationwide."

About Pineapple Financial:

Pineapple is an award-winning fintech and leading Canadian mortgage brokerage network, focusing on both the long-term success of agents and brokerages, as well as 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.

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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.