TORONTO, Dec. 10, 2019 : LowestRates.ca, Canada's leading online rate comparison site for insurance, mortgage, loan and credit card rates in Canada, is ending the year on a high note. This has truly been our best year yet, says LowestRates.ca Co-Founder and CEO Justin Thouin. When we started this company in 2012, I could only imagine the leaps and bounds we would make by the decade's end.
LowestRates.ca was the recipient of multiple awards in 2019, including the inaugural Globe and Mail Top Growing Companies Award (ranking No. 75), Startup Canada's High-Growth Entrepreneur Award, and the Insurance Business Magazine Readers' Choice Award for Best Service Provider. The company also made the Canadian Business Growth 500 list, where it ranked as the second fastest-growing financial services company in Canada, and the 15th fastest-growing company overall. LowestRates.ca also ranked on Deloitte's Technology Fast 50 and North America Technology Fast 500 lists, ranking 22nd on the former (based on 705% revenue growth between 2015 and 2018), and 164th on the latter. Earning a spot on the Fast 500 was an especially meaningful achievement, as it placed LowestRates.ca among the fastest growing companies in all of North America.
In addition to receiving recognition and accolades, LowestRates.ca also enjoyed tremendous revenue growth in 2019. The company launched a completely redesigned website in October and saw traffic increase by well over 50%. A number of new partners were also added to the platform, allowing Canadians to compare even more providers when using the site. The company doubled in size from an employee perspective, and it launched a new home insurance quoter—a comparison tool that allows Canadians to quickly and easily compare home insurance quotes online. Clearly, more and more Canadians are feeling comfortable using a rate comparison site, says Thouin. We are thrilled to be able to help so many people save their hard-earned money by providing them with the best rates on financial products.
Looking to the future, Thouin feels optimistic about the business entering the new decade. We have not lost our entrepreneurial spirit, nor our drive for bold innovation, says Thouin. Our goal is to become the first place Canadians go to when they have a personal financial decision to make and we'll continue to make great strides toward that in 2020 .
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