Canadian financial technology (fintech) firm Pine has secured $27 million in venture capital
funding led by high-profile Silicon Valley financier Greylock Partners.
The Series A and seed funding round comes as Pine looks to expand its digital direct-to-
consumer mortgage model from its Ontario base to the rest of Canada.
In a news release, Greylock Partners said it was attracted to Pine as a potential disruptor in the
mortgage market, long dominated by big banks and brokers.
Pine’s core business model is offering online, rapid home financing and mortgages at
competitive interest rates.
Pine has said that it has fielded more than $400 million in mortgage applications since it
launched its service this past January.
Greylock Partners has been involved in financing rounds with several high-profile technology
firms, including Wealthsimple in Canada, as well as lucrative bets on Meta Platforms (FB) and
Airbnb (ABNB).
