- Name: RateHub
- Who We Chatted With: Alyssa Furtado, Co-Founder and CEO
- Team Size: 55 people
- Cities Active: Toronto, Kingston, Montreal, Calgary and Vancouver
- Give us your elevator pitch: RateHub is Canada’s leading financial comparison site for mortgage rates, credit cards, banking and insurance. We empower users to search and compare thousands of rates from hundreds of financial providers in one place to save Canadians time and money.
Q: WHAT IS THE MOST EXCITING THING THAT HAS HAPPENED SINCE YOU ATTENDED DX3?
Alyssa Furtado: At Dx3, the most exciting thing that happened for us was being able to be interviewed by Amber Mac, courtesy of EY. Also, the ability to network and meet and talk to other startups is always extremely valuable. We were able to get inspired, and bring that energy back into the company. The most exciting thing that has happened since then has been the addition of our other offerings. When we first started we only offered mortgage comparisons. This year, we added credit cards, GIC’s and savings accounts.
Q: THAT’S AMAZING! NOW ON THE FLIP SIDE, WHAT IS THE MOST CHALLENGING THING THAT HAS HAPPENED SINCE DX3?
Alyssa Furtado: Building teams is always challenging when you’re a new employer and trying to establish a name for yourself. Along the way you make the wrong decisions about who to bring onto the team, or sometimes there isn’t a fit with a certain member, and those pose as very hard decisions that we’ve had to make. In 2010 when I started out, it was just me at a kitchen table and now along with my co-founder, we’re managing a team of 55 people. It’s such a different skill-set that’s been required, and I’ve had to develop and continue to work on that to continue to evolve. That’s exciting but it has been a challenge.
Q: WHAT WOULD YOU TELL SOMEONE WHO IS ALSO IN THE BEGINNING STAGES THAT IS TRANSITIONING FROM THEMSELVES TO WORKING WITH A TEAM?
Alyssa Furtado: In that transition, you have to be reflective to figure out where the gaps are in your team. You have to be confident and have a vision, all while maintaining your humility. People want to work for leaders they respect and that are humble. If you have questions or need advice, you always have to put up your hand, and pick up the phone and call someone for advice.
Q: WHAT IS THE BIGGEST CHANGE YOU’VE SEEN IN THE FINTECH INDUSTRY?
Alyssa Furtado: We got into the business in 2010, and every year we’ve seen more and more people going online. It’s really exciting to be in a business that’s growing naturally year over year. There are 20% – 30% more people going online to look for information on mortgage rates and credit cards, so that’s really exciting. It’s also been amazing to see the financial institutions in particular the big banks get on board with advertising on our site, and partnering with us. When I first got into the business we were working with small providers, and the big banks weren’t even looking at digital acquisition. Now, teams and budgets are being created around it. Each quarter we’re on-boarding more and more big banks.
Startup at a Glance is a monthly series where we profile startup companies that have attended or been involved with Dx3 in the past, and catch up with them on what they have been up to since. Want to be featured? Connect with Reilly Stephens to share your story.