Pine Goes National Next Week (sans Quebec)

It's always interesting to check in with mortgage fintechs like Pine. After all, if investors like Greylock Partners, Inovia Capital and Intact Ventures value the company at $75 million and hand them $30 million, they must be doing something unique.

On Sept. 11, Pine unfurls itself nationally across Canada—everywhere but Quebec (possibly because of the nightmarish red-tape, language rules and compliance environment in the province).

The company sells an ultra-low rate and targets a younger demographic with its simple, fast process. Two out of three customers breeze through its whole application on their smartphones, the company says.

I recently spoke with Co-founder Justin Herlick, who just came off his best month ever since opening the doors in January 2022. My goal: Peek under the hood and see what's making the Pine tree grow.

We dug up four notable takeaways:

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