Edison Financial Announces Seed Financing for New Digital Mortgage Startup in Windsor

Wednesday, January 29, 2020

Media Release

 

https://www.globenewswire.com/news-release/2020/01/29/1976673/0/en/Edison-Financial-Announces-Seed-Financing-for-New-Digital-Mortgage-Startup-in-Windsor.html

 

WINDSOR, Ontario, Jan. 29, 2020 (GLOBE NEWSWIRE) -- The city of Windsor will soon welcome an exciting new fintech startup, as former Lendesk Technologies Chief Financial Officer Hash Aboulhosn today announced he has left the company to reboot Edison Financial, a digital mortgage firm that has applied for a mortgage brokerage license in Ontario.

In conjunction with opening the business, Edison Financial also today announced it had secured seed funding from Rock Holdings Inc., the parent company of Quicken Loans, the largest mortgage lender in the United States.

Aboulhosn founded Edison Financial in 2017 before winding down the firm in 2018 to join Lendesk, which was acquired last year by Rock Holdings. 

“During the past year at Lendesk, I have witnessed first-hand the power and capability of the company’s innovative technology platform to transform the mortgage experience for brokers and their clients,” Aboulhosn said. “The power of innovation, paired with what I’ve learned about building strong entrepreneurial cultures from Quicken Loans, helped reignite my passion for building Edison Financial into something amazing in Canada.”

Edison Financial will be using Lendesk Spotlight as its lender submission platform of choice, leveraging the system’s modern APIs and industry leading technology as its core platform to help in providing service that is unmatched in Canada today.

“Having used the last year to really get to know Hash, and to understand his passion, there was nobody better positioned to truly build a world-class brokerage in Canada,” said Jay Farner, Chief Executive Officer of Rock Holdings. “When Hash approached us with his vision for Edison, we saw an opportunity to showcase the potential of Lendesk’s technology while backing a talented entrepreneur who embodies the culture of Rock Holdings and Quicken Loans.”

Quicken Loans and Edison Financial have also entered into a marketing agreement that will allow Canadian visitors to Rock Holdings’ websites to be connected with Edison as a preferred Canadian partner at www.EdisonFinancial.ca. Edison will also lease dedicated office space at the Rocket Innovation Studios located in Windsor, Ontario.

Edison is actively recruiting mortgage agents and underwriters in Windsor and looking to partner with lenders and insurers to bring its vision to life. For more information, please contact recruiting@edisonfinancial.ca.

Terms of the Rock Holdings investment were not disclosed.

About Edison Financial
Edison Financial is a Windsor-based digital mortgage startup that will serve the needs of consumers across Canada in partnership with Canada’s leading broker channel lenders. The company was founded by Hash Aboulhosn in 2017 with the goal of giving Canadian homebuyers a friendly, transparent and convenient mortgage experience. Edison is in the process of applying for its Ontario mortgage brokerage license with plans to expand to British Columbia and other provinces in the near future.

For more information, visit EdisonFinancial.ca or contact us at info@EdisonFinancial.ca.