Quicken Loans parent acquires Canadian mortgage tech firm

by Steve Randall25 Apr 2019

The parent company of Quicken Loans has made its second investment in Canada in the past two years, a mortgage tech startup called Lendesk.

Rock Holdings has acquired a major stake in the Vancouver-based firm which will continue to operate as an independent business from its existing HQ and under the existing leadership of founder and CEO Alex Conconi.

“It is very rare that you come across a new company that understands the important role that culture, technology, client service and innovation play in its success,” said Jay Farner, CEO of Rock Holdings. “In a short amount of time, the team at Lendesk has built technology to streamline communication and workflow between mortgage brokers and lenders in Canada and established a strong network of brokers and lenders who are connected through Lendesk’s new platform.”

Lendesk was founded in October 2018 and provides a direct-to-lender, mortgage application network with a single point of contact for brokers to submit, and lenders to approve, mortgage applications.

Mortgage fintech pioneers
“Rock Holdings and Quicken Loans are FinTech pioneers, known for revolutionizing the mortgage industry with game-changing technology like Rocket Mortgage while also providing unmatched service to their clients – whether that’s for consumers or Quicken Loans’ thousands of American mortgage partners,” said Conconi.

The proprietary platform assures that all paperwork is completed efficiently and accurately.

“Our partnership with Rock Holdings will allow us to gain wisdom and insight from the world’s leading mortgage technology company, as we continue to improve the entire experience, from the time of application through closing,” added Conconi.

This is the second investment Rock Holdings has made in Canada over the past two years. In 2017, Rocket Homes, a subsidiary of Rock Holdings Inc., purchased Toronto-based OpenHouse Realty – a company specializing in the development of proprietary home and real estate agent search technology.

 


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