Halifax-based start-up QuickFacts has raised $1.13m in its latest funding round, beating its initial goal of $500,000.
The firm aims to use this capital to aid its growth and expansion across Canada.
Go deeper with GlobalData
Sandpiper Ventures, a fund focused on women-led groundbreaking technology companies, led the round.
In addition, the investors included Killick Capital, ex-Carta CEO Paul Hill, former manager director at Marsh Canada Neil Mitchell, as well as both Women’s Equity Lab Toronto and Vancouver.
Founding and funding
Founded by president and CEO Christy Silvestri and CRO Jeff Barsalou, QuickFacts aggregates insurance carrier underwriting information for brokerages into a single searchable database that compares carrier information.
According to the company, a standard brokerage of 25 users saves an average of $140,000 a year in wasted productivity, or two full-time brokers, using QuickFacts. Currently, it has over 30 brokerages and 800 active brokers using the software.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataFurthermore, the funding allows the insurtech to expand its customer base to the remaining provinces across Canada.
Also, the company is making connections in the US and UK ahead of possible growth in 2024.
“As a broker for 17 years, I spent so much time answering underwriting questions for my team that I couldn’t perform my management tasks,” commented Christy Silvestri, president & CEO. “So we went and built the software I wanted as a broker and manager. We’re drastically improving the morale of brokers by empowering them with the quick answers they need. The industry is seeing a shortage of experienced brokers and a shift to remote work, so QuickFacts is making it much easier for brokers to access underwriting knowledge.”
“We are extremely proud of launching in Alberta, our first Western Canada province, at the prestigious IBAA Convention,” states Jeff Barsalou, CRO. “The event allowed us to connect with brokerage owners, carrier decision-makers, insurtech companies, and associations for potential partnerships. There was overwhelming enthusiasm and positive reception for the software, and we’ve already begun activating in Western brokerages.”
