Ownest
Driven by its vision to innovate how financing is conducted around the world, Ownest (as part of its parent company, SPS Fintech) was created by the company’s founder and CEO, mortgage industry veteran, Kendall Raessler. In 2019, it pioneered B2C software, empowering homebuyers to obtain online financing by aggregating optimal lenders and rates from over 22,000 mortgage products and processing loans 70% faster than traditional methods.
Ownest has since expanded its offering to include a proptech SaaS model, providing B2B partners with an advanced, AI-driven platform that is disrupting traditional loan application processes while significantly decreasing credit risk for its clients. Its revolutionary financing approval engine quickly verifies and intelligently screens potential borrowers. Ownest’s comprehensive software drives qualified leads, significantly increases productivity and provides in-depth customer insights to increase sales conversion. The open API platform seamlessly integrates with other software systems to provide a truly customizable end-to-end financing platform, and an industry-leading solution.
Because their end-to-end platform incorporates a multitude of features and open API for customizable integration, Ownest is unique in the marketplace. However, one could compare certain feature categories within the competitive space:
- Online Mortgage Portal: Nesto (however, Ownest’s software is more advanced with AI and machine learning)
- LOS: Lendify
- Approval Engine: Ownest’s Pront-O app is the only solution of its kind to instantly verify a borrower’s credit based on the Five Cs of Credit, pulled directly from Revenue Canada while providing in-depth customer insights to increase upselling and cross-selling opportunities and increasing the lifetime value of the customer.
Traction
70% of the largest homebuilders in Alberta are already using Ownests’ software, including Brookfield Residential Canada. They’re in discussions with various real estate associations and lenders as they expand into other markets such as BC and Ontario.
- 1800 leads (borrowers) through their platform Jan. 1 – October 28, 2020
- 100% conversion rate when selling the software platform to builders
- 83% participation/usage rate by affiliate employees/agents
- One of eight participants of 720 international applications accepted into the prestigious 2020 Holt FinTech Accelerator Program
Their biggest challenge at this point would be the timely response to numerous sales inquiries and expanding their team to effectively manage the steep growth trajectory.
Team
Kendall Raessler, Founder and CEO: With extensive experience of over 25 yrs in the Canadian real estate & mortgage industry, Kendall is now driving growth in the technology sector. He envisioned the Ownest platform as a user-friendly, client-centric online mortgage tool and has reimagined its expanded functionality and high growth multi-revenue streams. His deep knowledge of industry standards, compliance, and product vision make him a key asset in the success of the company.
Audrey Wilson, VP Operations: Audrey joined Ownest Financial in 2017. With more than 15 years of experience in the Canadian Mortgage Industry coupled with fastidious attention to detail, organization skills, deep knowledge of industry standards and compliance, she has been integral to building the foundation of Ownest core vision and direction.
Ray Yip, Chief Technology Officer: Ray Joined Ownest Financial in 2019, with over 20 years of experience in software development and software architecture. He worked at entrepreneurial companies where he has excelled at Agile software development, product management and working within highly productive development teams. His in-depth knowledge of AI, data and cloud-based technology is the driving force behind our platform.
Radu Soare, Chief Revenue Officer: A lifelong Calgarian and an alumnus of the Haskayne School of Business at the University of Calgary, Radu has over 18 years of experience in the Energy Trading, Banking and Manufacturing industries. Over the past 5 years, Radu has been spearheading the development of innovative alternative business strategies aimed at changing the face of core business operations. His creative approach to business development and focus on disruptive business processes brings a unique and valuable skill set to the business.
Tammy Schuiling, Head of Marketing: Tammy Joined Ownest Financial in 2020. She is an award-winning marketing professional with over 25 years of extensive experience in sales engagement, affiliate marketing, brand awareness, content marketing and driving qualified leads via digital channels. She has successfully led international marketing teams in the technology sector, including online gaming, telecommunications, media and SaaS.
Robert Iverach, Advisor, Legal: Robert Joined Ownest Financial in 2017. With a Bachelor of Arts from the University of Calgary, a Bachelor of Laws from the University of Alberta and a Master of Laws from the London School of Economics, Bob is a member of the Law Society of Alberta (Barrister and Solicitor) and has specialized in income tax law since 1974
Brendan Holt Dunn, Advisor: Brendan is an investment guru who has close to 15 years in managing multi-billion dollar asset portfolios. He is currently the CEO of Holdun, a 5th generation family business which offers family office services, wealth management services, trust services, corporate services, concierge services and financial services and was awarded best Multi-Family Office in the Caribbean 2017 for Holdun Family Office. A tech-savvy investor, he has made many investments in startups including Stradigi AI, Addepar, Uber, LeAD Sports Accelerator, Sway Ventures, and Falcon 5. He has accumulated five finance and investment certificates to compliment his finance degree from King’s University College.
Funding
Ownest is raising $5,000,000 in funding to be used for the commercialization of their product, expand marketing and sales efforts across Canada and US, enter international markets, and build key strategic partnerships. To-date, Ownest has raised $3 million based on an equity position. The Company currently holds no debt.
Ownest aims to continue to expand across Canada and plans to enter the US and international markets in 2021-2022 as they expand their sales channels to unsecured lenders, insurance and other businesses where credit is a gateway.
Revenue Model
As a SaaS firm, they have 3 primary revenue sources, monthly software subscription fees, data fees for lead qualification and customer insights, along with commissions for brokerage services. Although, these revenue sources are never constant and rapidly changing.
Details
Address: 1927 – 246 Stewart Green SW Calgary, AB T3C 3C8