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Pineapple Financial Inc. Adds Six Brokerages to Its Affiliate NetworkTORONTO, May 22, 2024 /CNW/ - 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 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:
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, Pineaple 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: SOURCE: Pineapple Financial Inc. (NYSE American: PAPL) Safe Harbor Forward-Looking Statements Related Links:
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