In the News
Pine Surpasses $1 Billion in Mortgages Under Administration, Launches New Suite of Real Estate Products
Backed by $50M in funding, Pine has expanded beyond mortgages to unify real estate search, advisory, and homeownership tools, transforming the homebuying journey with an AI platform.
Loveleen DhimanGrowth Marketing @Pine
3 min read
Pine, the all-in-one homeownership platform, today announced it has surpassed $1 billion in mortgage under administration and has unveiled a new suite of real estate products designed to consolidate the entire homeownership journey within a single platform. This milestone coincides with the launch of Pine Homes, after their 2023 acquisition of Properly.With a total of $50 million in funding to date, led by renowned investors including Greylock Partners, Inovia Capital, Intact Ventures, Position Ventures, Wischoff Ventures, and MetaProp, Pine is building the future of real estate by integrating AI to deliver personalized financing, advisory, and search experiences.
"We’re proud to support Pine as they build AI-first products to deliver the transparency and integration the Canadian real estate market has long been missing," said Karamdeep Nijjar, Partner at Inovia Capital. "By creating a true one-stop shop for homeownership that pairs real estate tools with deeply integrated financial services, Pine is redefining how Canadians own homes."Since its launch in 2021, Pine has approved $3 billion in mortgages for over 55,000 families, manages more than 2,500 active mortgages, and currently serves upwards of 100,000 customers nationwide. Overall, the company achieved 600% growth in the last year. The company’s AI platform helps homebuyers save an average of $3,187 compared to traditional lenders and close their purchases 12 days faster."We started Pine with a simple question: Why is buying a home so complicated?" said Justin Herlick, co-founder and CEO of Pine. "We’re at the point where AI can unite the entire homeownership journey from search to close. Homebuyers want simplicity and speed, and Pine’s in-house developed AI delivers both."Pine’s platform now offers a new suite of products, including:
Pine Homes: A real estate search platform that connects buyers with listings, personalized financing options, and property guidance. All within a single interface.
Pre-Approvals: Get pre-approved faster with AI that streamlines eligibility
Mortgages: A wide variety of direct lending programs tailored to homeowners' needs, from mortgage renewals to refinances
Home Equity Lines of Credit (HELOCs) and home insurance are just a few of the tools Pine has on their roadmap as it works towards becoming Canada’s largest homeownership platform.
About Pine Pine is an AI technology company offering innovative solutions designed to support homebuyers throughout their entire homeownership journey. Backed by Greylock and Inovia Capital, the company is at the forefront of revolutionizing the real estate industry through the use of AI. The company was founded in 2021 by a team of financial experts and technology entrepreneurs, and is headquartered in Toronto, Canada. To learn more, visit www.pine.ca.