Justin Thouin, Co-Founder & CEO, LowestRates
Queen's Commerce
2000

LowestRates

My Company, LowestRates.ca, aims to disrupt how Canadians approach their big financial decisions - like mortgages, insurance, credit cards, and loans. LowestRates.ca showcases rates from Canada’s leading financial institutions and allows Canadians to compare offers and find the best financial solution for their unique needs, for free, all in one place.

Why I started the company: I was spending a lot of time in the U.K. and noticed how consumers there approached personal finance the same way they approached travel and hotels; as something to shop for and compare online. I figured if there was an easy way for Canadians to save time and money, then the model could work here, too.

The most fun I’ve had so far was when: LowestRates.ca was recognized by Canadian Business Magazine and PROFIT as the 4th fastest growing startup in Canada. It was announced in September 2016 and felt like a true validation of our hard work and the value we offer to Canadian consumers.  

What the business needs most right now is awareness and trust from the Canadian public. We recently conducted a survey via Ipsos and found that 40% of Canadians consult only with the service that sold them their mortgage, and 67% sourced their mortgage through a bank. We need to educate Canadians that help in making smarter money decisions is available online. There's a FinTech (financial technology) revolution taking place in Canada that is challenging the old way of approaching finances, and we're ready to be a part of that change.

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