Toronto, ON (Feb. 4, 2015) – Kanetix Ltd. has announced the acquisition of Rates.ca, which closed on January 31st, 2015.
The acquisition of financial services and insurance rate comparison website Rates.ca from VerticalScope Inc. further broadens Kanetix’s reach and strengthens its position in the online rate comparison industry in Canada, which continues to show significant growth potential.
The move signifies Kanetix’s commitment to growing its interests in the insurance and financial services industries online, as well as the ability to offer more choice to consumers shopping online for financial products.
Launched in October 1999, Kanetix was Canada’s first online insurance quotes marketplace and today provides over a million quotes per year to consumers looking for lower insurance rates, as well as comparisons for mortgage rates and credit cards.
The Kanetix comparison service is a one-stop shopping environment for consumers. Each day, thousands visit the Kanetix website at www.Kanetix.ca to comparison shop their various financial needs. Shoppers choose what they want to compare, obtain a quotation and complete an online application or, with the help of Kanetix connect with the provider to purchase or apply for the product over the phone.
Through its Software as a Service team, Kanetix is also the leading provider of online insurance quotation technology, developing online quotation systems, mobile solutions, actuarial tools and websites for many of Canada’s largest insurance brands.