RateHub

Alyssa Furtado of Kingston, ON asked for $1 million for 10% equity in RateHub, a website that lets Canadians compare financial products such as mortgages, credit cards and savings rates, attracting over three million Canadian users a year. The company earns marketing fees from providers, about $100 per credit card application and $200 per mortgage application, plus banner advertising revenue. Founded about six and a half years ago with $400,000 of the founders' own capital and no outside investment, RateHub grew from $4 million in revenue in 2015 to a projected $8 million in 2016, with a 20% margin producing about $1.6 million in profit; the new capital was earmarked for expansion into online insurance comparison.

Michael Wekerle offered $1.5 million for 15% but went out once he could not beat a lower offer. Joe Mimran offered the full $1 million for 10%, and Jim Treliving offered $1 million for 7%; Joe and Jim then combined forces, with Joe ultimately matching at 7% each (a joint 14%) while Manjit Minhas separately offered $1 million for 7%. Alyssa Furtado accepted the joint offer from Joe Mimran and Jim Treliving.

RateHub is still operating and sells through its website.