TORONTO, June 6, 2024 /CNW/ - Ratehub Inc., a leading Canadian financial technology company, is pleased to announce the appointment of Naga Parvatharajan as the company's new Chief Executive Officer.
Naga succeeds the esteemed Co-Founders Alyssa Furtado and James Laird, who have been at the helm since the company's inception in 2010. While stepping down from their roles as Co-CEOs, they will continue to contribute to the company's success, with James maintaining his position as the mortgage brokerage's broker of record.
Naga is an experienced operating executive with 20+ years of leadership experience in banking and fintech. He brings a wealth of experience from his tenure at leading U.S. firms such as SoFi, Goldman Sachs, Discover, and Capital One, which aligns perfectly with Ratehub Inc.'s innovative spirit. Most recently, Naga served as the GM of multiple lending businesses at SoFi, where he contributed significantly to the company's growth and P&L, culminating in a successful public offering and a current valuation exceeding $7 billion. Naga also serves on the Boards of many financial services companies in the US. Naga holds a Masters degree in Engineering from Purdue University and an MBA from the Kellogg School of Management in the US.
"We are thrilled to announce this significant milestone in Ratehub's journey," said Alyssa Furtado. "The decision to seek a new CEO was driven by our ambition to explore untapped potential. Naga's track record of scaling unique enterprises like Ratehub is unparalleled and we believe his expertise will be instrumental in scaling Ratehub to new heights."
"We remain deeply committed to Ratehub's success as shareholders, board members and strategic advisors," said James Laird. "This leadership transition, supported by our partner, Novacap, is a testament to our shared vision for growth and excellence."
Under Naga's new leadership, Ratehub will continue its commitment to innovate and help Canadians make smart financial decisions.
"I am honored to lead Ratehub in its next chapter of innovation and growth," said Naga Parvatharajan. "Ratehub has what it takes to become bigger and make a difference in the consumer's finances as a one stop shop for all financial needs - Save, Spend, Borrow, Invest, Protect - while continuing to double down on Mortgage originations as rates rally."
Founded in 2010, Ratehub Inc. boasts many achievements including being recognized as one of Canada's fastest growing companies, closing over $17 billion in mortgage volume, receiving over 10,000 five star reviews, and building a team of 170 exceptional individuals. Novacap, a leading North American private equity firm, entered a partnership with Ratehub Inc. in 2022.
Ratehub Inc. connects Canadians to the best financial tools, advice, and products on the market through its financial product comparison site and mortgage brokerage, Ratehub.ca, mortgage lender, CanWise, insurance brokerage, RH Insurance, and personal finance website, MoneySense. Millions of Canadians visit Ratehub.ca and MoneySense every year to get personalized recommendations on the best mortgage rates, credit cards, savings accounts, GICs, and insurance products. To learn more, visit www.ratehub.ca or www.canwise.com or www.rhinsurance.ca or www.moneysense.ca.
Founded in 1981, Novacap is a leading North American private equity firm with over C$8B of AUM that has invested in more than 100 platform companies and completed more than 150 add-on acquisitions. Applying its sector-focused approach since 2007 in Industries, TMT, Financial Services, and Digital Infrastructure, Novacap's deep domain expertise can accelerate company growth and create long-term value. With experienced, dedicated investment and operations teams as well as substantial capital, Novacap has the resources and knowledge that help build world-class businesses. Novacap has offices in Montreal, Toronto, and New York. For more information, please visit www.novacap.ca.
SOURCE Ratehub Inc.
Tara Bolger, Senior Communications Manager, [email protected], (647) 778-4841
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