Latest news with #KendallMarin
Associated Press
02-05-2025
- Business
- Associated Press
Pineapple Financial Inc. Partners with CPP to Expand Pineapple Insurance Offering Building on Success and Unlocking a Multi-Billion Dollar Opportunity in Life, Creditor, and Disability Insurance for Mortgage Clients
Toronto, Ontario--(Newsfile Corp. - May 2, 2025) - Pineapple Financial Inc. (NYSE American: PAPL), a leading Canadian fintech platform, is thrilled to announce a new strategic partnership with CPP (Canadian Protection Plan) to further enhance its Pineapple Insurance division. This collaboration is designed to broaden the suite of life, creditor, and disability insurance offerings available to clients, continuing to position Pineapple as a key player in the growing Canadian insurance market. Following the successful launch of Pineapple Insurance earlier this year, which has already received positive adoption across its customer base, this partnership with CPP will further elevate the company's ability to provide comprehensive and tailored financial protection solutions that seamlessly integrate with the mortgage process. Pineapple Insurance, which launched with great enthusiasm, is now expanding its reach and impact, ensuring that clients continue to receive the most relevant and secure coverage for their unique needs. A Multi-Billion Dollar Opportunity with CPP Partnership The addition of CPP to Pineapple Insurance provides clients with enhanced insurance options, allowing the company to offer a more diverse range of life, creditor, and disability coverage. The Canadian life and health insurance sector remains a significant opportunity, with $122 billion CAD in premiums generated in 2022 alone, and a forecasted annual growth rate of 4.5% through 2027. By integrating these offerings into the mortgage process, Pineapple is well-positioned to capture a larger share of this market and further expand its revenue streams. With over 700,000 new mortgages issued annually and nearly 47% of mortgages set to renew within the next three years, the potential for cross-selling insurance products remains immense. The recent regulatory changes, which now require an insurance offer for all mortgage applications, further underscore the timeliness of this partnership. Pineapple Insurance is not only meeting this regulatory requirement but also creating an integrated, value-added solution that improves the client experience, while opening up new opportunities for growth. This partnership marks a pivotal point for the company, building on the early success of Pineapple Insurance and driving its next phase of growth. Strategic Growth for Investors Pineapple's partnership with CPP significantly enhances its revenue-generating potential. With the addition of CPP's insurance products, Pineapple continues to expand its multi-product offerings, positioning itself to tap into Canada's vast insurance market. By bundling insurance with mortgage services, Pineapple is increasing its cross-sell opportunities, building stronger client relationships, and enhancing revenue growth. 'Our launch of Pineapple Insurance has already been well received by our clients, and we're excited to expand upon that success with the addition of CPP's products,' said Kendall Marin, President and COO of Pineapple Financial. 'This partnership not only strengthens our insurance offering but also drives growth by offering our clients a seamless, all-in-one solution for their mortgage and insurance needs.' Driving Client Retention and Long-Term Growth The successful adoption of Pineapple Insurance by clients has already proven to be a key driver of retention, and the CPP partnership will only enhance this trend. Research consistently shows that offering multi-product solutions increases client retention by as much as 30%. By offering tailored insurance coverage alongside mortgage products, Pineapple is deepening relationships with its clients, ensuring they stay loyal over the long term. 'We promised our investors that the proceeds from our IPO would be used strategically to enhance shareholder value, and with the launch of Pineapple Insurance and this new partnership with CPP, we're delivering on that promise,' said Shubha Dasgupta, CEO of Pineapple Financial. 'This partnership strengthens our ability to offer our clients more value, and provides a clear path to sustainable growth and profitability for the company.' Capital Deployment and Long-Term Value Creation Pineapple Insurance's expansion, backed by the strategic deployment of proceeds from the November 2023 IPO, demonstrates the company's commitment to using capital efficiently to drive future growth. The partnership with CPP reflects Pineapple's long-term vision of building a fully integrated financial services platform. It is a key example of the company's efforts to maximize investor capital and create revenue-generating assets that will benefit shareholders in the years to come. 'Through this partnership with CPP, we're furthering our strategic goal of building a comprehensive, end-to-end solution for clients. This is just the beginning of a long-term, profitable journey,' concluded Shubha Dasgupta. A Fully Integrated Financial Ecosystem Pineapple Insurance, enhanced with CPP's offerings, adds a critical layer to Pineapple's all-in-one platform, providing a seamless experience for mortgage, insurance, and financial services. As a licensed Managing General Agent (MGA) operating in Ontario, Manitoba, British Columbia, and Alberta, Pineapple Insurance now offers clients access to personalized and secure coverage with the added benefit of a complete financial service suite. This integration not only strengthens Pineapple's market position but also ensures that the company remains at the forefront of innovation in the Canadian mortgage and financial services sector. About Pineapple Insurance Pineapple Insurance Inc., a wholly owned subsidiary of Pineapple Financial Inc., offers a wide range of insurance products, including life insurance (term and permanent), creditor insurance, critical illness insurance, and disability insurance. Licensed as an MGA, Pineapple Insurance is dedicated to providing comprehensive financial protection to clients across Canada, ensuring that every mortgage client has access to personalized and secure coverage. About Pineapple Financial Pineapple Financial Inc. (NYSE American: PAPL) is a leading Canadian mortgage technology and brokerage company focused on delivering the ultimate experience for mortgage brokers, lenders, and clients. Pineapple provides cutting-edge tools, marketing automation, analytics, and proprietary technology designed to simplify and enhance the mortgage process. With a growing national footprint and a commitment to innovation, Pineapple is setting a new standard for excellence in the mortgage industry. For more information, please visit Forward-Looking Statements Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as 'may,' 'will,' 'expect,' 'anticipate,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'is/are likely to,' 'potential,' 'continue' or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the 'Risk Factors' section of the registration statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at Given these uncertainties, you should not place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. We do not undertake any obligation to update any such statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments. Media Contact: For media inquiries, please contact Shubha Dasgupta, Chief Executive Officer, at Pineapple. Email: [email protected] Related Links: Investor Relations Contact: For investor relations inquiries, please contact Pineapple Financial Inc. [email protected] To view the source version of this press release, please visit
Yahoo
02-05-2025
- Business
- Yahoo
Pineapple Financial Inc. Partners with CPP to Expand Pineapple Insurance Offering Building on Success and Unlocking a Multi-Billion Dollar Opportunity in Life, Creditor, and Disability Insurance for Mortgage Clients
Toronto, Ontario--(Newsfile Corp. - May 2, 2025) - Pineapple Financial Inc. (NYSE American: PAPL), a leading Canadian fintech platform, is thrilled to announce a new strategic partnership with CPP (Canadian Protection Plan) to further enhance its Pineapple Insurance division. This collaboration is designed to broaden the suite of life, creditor, and disability insurance offerings available to clients, continuing to position Pineapple as a key player in the growing Canadian insurance market. Following the successful launch of Pineapple Insurance earlier this year, which has already received positive adoption across its customer base, this partnership with CPP will further elevate the company's ability to provide comprehensive and tailored financial protection solutions that seamlessly integrate with the mortgage process. Pineapple Insurance, which launched with great enthusiasm, is now expanding its reach and impact, ensuring that clients continue to receive the most relevant and secure coverage for their unique needs. A Multi-Billion Dollar Opportunity with CPP Partnership The addition of CPP to Pineapple Insurance provides clients with enhanced insurance options, allowing the company to offer a more diverse range of life, creditor, and disability coverage. The Canadian life and health insurance sector remains a significant opportunity, with $122 billion CAD in premiums generated in 2022 alone, and a forecasted annual growth rate of 4.5% through 2027. By integrating these offerings into the mortgage process, Pineapple is well-positioned to capture a larger share of this market and further expand its revenue streams. With over 700,000 new mortgages issued annually and nearly 47% of mortgages set to renew within the next three years, the potential for cross-selling insurance products remains immense. The recent regulatory changes, which now require an insurance offer for all mortgage applications, further underscore the timeliness of this partnership. Pineapple Insurance is not only meeting this regulatory requirement but also creating an integrated, value-added solution that improves the client experience, while opening up new opportunities for growth. This partnership marks a pivotal point for the company, building on the early success of Pineapple Insurance and driving its next phase of growth. Strategic Growth for Investors Pineapple's partnership with CPP significantly enhances its revenue-generating potential. With the addition of CPP's insurance products, Pineapple continues to expand its multi-product offerings, positioning itself to tap into Canada's vast insurance market. By bundling insurance with mortgage services, Pineapple is increasing its cross-sell opportunities, building stronger client relationships, and enhancing revenue growth. "Our launch of Pineapple Insurance has already been well received by our clients, and we're excited to expand upon that success with the addition of CPP's products," said Kendall Marin, President and COO of Pineapple Financial. "This partnership not only strengthens our insurance offering but also drives growth by offering our clients a seamless, all-in-one solution for their mortgage and insurance needs." Driving Client Retention and Long-Term Growth The successful adoption of Pineapple Insurance by clients has already proven to be a key driver of retention, and the CPP partnership will only enhance this trend. Research consistently shows that offering multi-product solutions increases client retention by as much as 30%. By offering tailored insurance coverage alongside mortgage products, Pineapple is deepening relationships with its clients, ensuring they stay loyal over the long term. "We promised our investors that the proceeds from our IPO would be used strategically to enhance shareholder value, and with the launch of Pineapple Insurance and this new partnership with CPP, we're delivering on that promise," said Shubha Dasgupta, CEO of Pineapple Financial. "This partnership strengthens our ability to offer our clients more value, and provides a clear path to sustainable growth and profitability for the company." Capital Deployment and Long-Term Value Creation Pineapple Insurance's expansion, backed by the strategic deployment of proceeds from the November 2023 IPO, demonstrates the company's commitment to using capital efficiently to drive future growth. The partnership with CPP reflects Pineapple's long-term vision of building a fully integrated financial services platform. It is a key example of the company's efforts to maximize investor capital and create revenue-generating assets that will benefit shareholders in the years to come. "Through this partnership with CPP, we're furthering our strategic goal of building a comprehensive, end-to-end solution for clients. This is just the beginning of a long-term, profitable journey," concluded Shubha Dasgupta. A Fully Integrated Financial Ecosystem Pineapple Insurance, enhanced with CPP's offerings, adds a critical layer to Pineapple's all-in-one platform, providing a seamless experience for mortgage, insurance, and financial services. As a licensed Managing General Agent (MGA) operating in Ontario, Manitoba, British Columbia, and Alberta, Pineapple Insurance now offers clients access to personalized and secure coverage with the added benefit of a complete financial service suite. This integration not only strengthens Pineapple's market position but also ensures that the company remains at the forefront of innovation in the Canadian mortgage and financial services sector. About Pineapple Insurance Pineapple Insurance Inc., a wholly owned subsidiary of Pineapple Financial Inc., offers a wide range of insurance products, including life insurance (term and permanent), creditor insurance, critical illness insurance, and disability insurance. Licensed as an MGA, Pineapple Insurance is dedicated to providing comprehensive financial protection to clients across Canada, ensuring that every mortgage client has access to personalized and secure coverage. About Pineapple Financial Pineapple Financial Inc. (NYSE American: PAPL) is a leading Canadian mortgage technology and brokerage company focused on delivering the ultimate experience for mortgage brokers, lenders, and clients. Pineapple provides cutting-edge tools, marketing automation, analytics, and proprietary technology designed to simplify and enhance the mortgage process. With a growing national footprint and a commitment to innovation, Pineapple is setting a new standard for excellence in the mortgage industry. For more information, please visit Forward-Looking Statements Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at Given these uncertainties, you should not place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. We do not undertake any obligation to update any such statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments. Media Contact: For media inquiries, please contact Shubha Dasgupta, Chief Executive Officer, at Pineapple. Email: shubha@ Related Links: Investor Relations Contact: For investor relations inquiries, please contact Pineapple Financial Inc. ir@ To view the source version of this press release, please visit Sign in to access your portfolio
Associated Press
01-05-2025
- Business
- Associated Press
Pineapple Financial Launches Pineapple+, Slashes $1M in Costs, Strengthens Profitability and Growth Strategy
Toronto, Ontario--(Newsfile Corp. - May 1, 2025) - Pineapple Financial Inc. (NYSE American: PAPL) ('Pineapple' or the 'Company'), a leading Canadian mortgage technology and brokerage firm, today announced what it believes is a transformational milestone, official launch of Pineapple+, its fully proprietary, end-to-end broker platform that is expected to eliminate nearly $1 million in annual third-party technology, development and licensing costs while advancing the Company's strategy to streamline operations, accelerate revenue growth, and achieve sustained profitability. We believe that, Pineapple+ represents a major milestone in the Company's evolution. Developed entirely in-house, Pineapple+ consolidates all primary operational functions including CRM, deal processing, document management, marketing automation, renewals, and business analytics into one seamless and fully owned ecosystem. Selective third-party integrations remain only in specialized areas such as compliance and payroll, ensuring optimized regulatory alignment without compromising independence or control. As a result of this platform launch, Pineapple has already realized approximately $1 million in annual cost savings through the consolidation of third-party technologies into the Pineapple+ platform. The platform is also expected to materially reduce future development expenditures by centralizing innovation efforts under one scalable infrastructure. 'The launch of Pineapple+ is a transformational moment for our company,' said Shubha Dasgupta, CEO of Pineapple Financial. 'This platform is not only a testament to our innovation and execution capabilities but a key driver toward achieving sustained profitability. By reducing substantial operational costs and building a flexible foundation for future growth, we have significantly enhanced our financial strength and competitive positioning.' Pineapple has already implemented key components of the Pineapple+ platform and anticipates that associated operational cost savings will be fully reflected beginning in May 2025. This timeline is consistent with the Company's previously communicated objectives to improve operating leverage and support progress toward sustained profitability. In addition to realized operational savings, Pineapple believes that Pineapple+ is well-positioned to support future revenue growth through several strategic levers: Pineapple+ also establishes a launchpad for future innovation, unlocking opportunities for advanced AI integrations, predictive analytics, and deeper data intelligence, which we believe will allow the company to continually enhance broker success and operational efficiency. 'Pineapple+ gives us a competitive advantage in a shifting mortgage landscape,' added COO Kendall Marin. 'It strengthens our value proposition to brokers, partners, and clients, while positioning Pineapple as a fintech innovation leader within Canada's mortgage sector. We are confident this milestone will significantly contribute to our long-term growth and shareholder value.' The full demonstration video for informational purposes of the Pineapple+ platform can be viewed here: CLICK HERE About Pineapple Financial Pineapple Financial Inc. (NYSE American: PAPL) is a leading Canadian mortgage technology and brokerage company focused on delivering the ultimate experience for mortgage brokers, lenders, and clients. Pineapple provides cutting-edge tools, marketing automation, analytics, and proprietary technology designed to simplify and enhance the mortgage process. With a growing national footprint and a commitment to innovation, Pineapple is setting a new standard for excellence in the mortgage industry. For more information, please visit Forward-Looking Statements Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as 'may,' 'will,' 'expect,' 'anticipate,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'is/are likely to,' 'potential,' 'continue' or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the 'Risk Factors' section of the registration statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at Given these uncertainties, you should not place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. We do not undertake any obligation to update any such statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments. Media Contact: For media inquiries, please contact Shubha Dasgupta, Chief Executive Officer, at Pineapple. Email: [email protected] Related Links: Investor Relations Contact: For investor relations inquiries, please contact Pineapple Financial Inc. To view the source version of this press release, please visit
