Pineapple
Pineapple Financial Inc. is a Canadian mortgage brokerage fintech operating a network of 700+ brokers and 20+ partner brokerages across Canada, built on a Salesforce-powered Pineapple Core platform, with a recently launched $100M Injective Digital Asset Treasury and mortgage tokenization initiative.
- Company typePublic
- Founded2016
- HeadquartersNorth York, Canada
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Pineapple does
Pineapple Financial Inc. is a Canadian mortgage brokerage and fintech platform headquartered in Toronto, founded in 2016 by Shubha Dasgupta, Kendall Marin, and Drew Green, and publicly listed on NYSE American under the ticker PAPL since November 1, 2023. The company operates a network of 700+ individual mortgage brokers/agents and 20+ partner brokerages across Canada, with multi-provincial licences (Ontario 12830, BCFSA, AMF, RECA, Saskatchewan, Nova Scotia) and a Western Canada regional hub in Coquitlam, BC. Its core offering is a single sign-on, Salesforce-powered broker platform called Pineapple Core that consolidates CRM, compliance, payroll, training (Pineapple Juice LMS), document management, and deal origination into one Google Workspace login, augmented by a mobile CRM (MyPineapple / Pineapple+), an online mortgage application, and a document portal.
The company generates revenue primarily through mortgage origination commissions paid by lenders (FY2025 revenue of $3.0M, Q2 fiscal 2026 revenue of $0.7M against $3.3M gross billings), with ancillary income from underwriting service fees ($500/transaction for higher-split agents) and a $100M Injective (INJ) Digital Asset Treasury launched in September 2025 targeting approximately 12% passive yield from staking. A mortgage tokenization platform launched in December 2025 converts the company's $13.7B mortgage portfolio into digital assets on the Injective blockchain, with $716M+ CAD initially tokenized. The company sells to three primary customer segments: Canadian homeowners (first-time buyers, current owners, investors, newcomers) reached through a direct-to-consumer online channel, individual mortgage brokers/agents recruited into the Pineapple network, and partner brokerages that join the affiliate channel. Its distribution is supported by content marketing, organic social, events (Xchange with 600+ attendees, CoinDesk Consensus, D. Boral Capital), and an extensive public-relations footprint including FinTech TV, Cheddar News, and Global News.
Operationally, Pineapple has reported a 50%+ reduction in monthly cash burn, $1.5M+ annualized cost savings, and a Q2 2026 adjusted EBITDA of $0.4M versus a prior-year loss, alongside an expanded share repurchase program of up to $15M. However, an explanatory paragraph in the March 30, 2026 audit report cited uncertainty about the company's ability to continue as a going concern. Strategic priorities now span operational efficiency in the core brokerage, scaling Maui AI-driven agent recruitment, and the institutional build-out of the INJ digital asset treasury supported by Crypto.com, Kraken, FalconX, Monarq Asset Management, and Canary Capital.
Pineapple firmographics
Firmographics- Name
- Pineapple
- Legal name
- Pineapple Financial Inc.
- Website
- https://gopineapple.com
- Company type
- Public
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Pineapple Financial Inc. is a Canadian mortgage brokerage fintech operating a network of 700+ brokers and 20+ partner brokerages across Canada, built on a Salesforce-powered Pineapple Core platform, with a recently launched $100M Injective Digital Asset Treasury and mortgage tokenization initiative.
- Ownership category
- akta.pro rank
Pineapple industry classification
Industry- Product category
- Mortgage Brokerage Services
- NAICS
- Mortgage and Nonmortgage Loan Brokers (522310), Portfolio Management and Investment Advice (523940)
- SIC
- Mortgage Bankers & Loan Correspondents (6162), Loan Brokers (6163)
- akta.pro primary industry
- Retail Residential Mortgage Brokers (Purchase & Refinance) (FSALABAA)
- akta.pro secondary industry
- Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB)
Keywords
Where Pineapple is headquartered
LocationHeadquarters
- HQ city
- North York
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
Pineapple business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Mortgage Brokerage Commissions: Pineapple generates revenue from mortgage origination commissions paid by lenders when brokers in the Pineapple network fund loans. Q2 2026 gross billings were $3.3M and revenue was $0.7M. Brokers are paid out 100% of funds received from lender partners via same-day pay.
- Underwriting Services Fees: Pineapple offers in-house underwriting and cross-Canada submission services that take deals from submission to close. Free for new agents with 65/35 or under splits; $500/transaction for higher splits. May also generate fees from third parties.
- Digital Asset Treasury Yield: Yield generated from staking INJ tokens (targeting 6.14% annual staking reward, with overall passive yield estimated at approximately 12%). Pineapple's DAT program is supported by institutional-grade infrastructure partners.
- Mortgage Tokenization Platform: Real-world mortgage data tokenization on the Injective blockchain, with plans to migrate the $13.7 billion mortgage portfolio. Future revenue potential from tokenized mortgage data products.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | 2-Year Fixed mortgage rate: 4.14% |
| Other | Pay-as-you-go | 3-Year Fixed mortgage rate: 4.19% |
| Other | Pay-as-you-go | 5-Year Fixed mortgage rate: 4.09% |
| Other | Pay-as-you-go | 5-Year Variable mortgage rate: 3.7% |
| Transaction based/ take rate | Pay-as-you-go | Broker compensation: commission-based with same-day pay |
Go-to-market motion4 records
Distribution channels4 records
Marketing channels9 records
Pineapple product offering
Product offeringCore offering
Pineapple Financial Inc. operates a Canadian mortgage brokerage network providing residential mortgages, refinances, purchases, and private mortgages through a network of 700+ brokers/agents and 20+ partner brokerages. The company supports brokers with a proprietary integrated technology platform (Pineapple Core) for CRM, compliance, training, and deal management, and increasingly operates a digital asset treasury strategy and a mortgage tokenization platform built on the Injective blockchain.
Product overview
Pineapple operates a platform-plus-modules architecture built around Pineapple Core, a Salesforce-powered, single-sign-on broker platform that consolidates lead, deal, document, training, and compliance workflows. Layered on this core are the MyPineapple / Pineapple+ mobile CRM app, the Pineapple Juice LMS, Maui AI, the Pineapple Doc Portal, and a customizable online mortgage application — together forming the data-driven "full circle" broker system. Operational services — Pineapple Underwriting, the Pineapple Counsellor mentorship program, the Horizons+ recognition club, and the Brokerage Partner network — extend the platform to brokers and partner brokerages, while the Mortgage Tokenization Platform and the INJ Digital Asset Treasury represent Pineapple's newer blockchain and digital asset products, supported by the Pineapple Digital Assets sub-brand (pineappledigitalassets.com).
Differentiator
Problem solved
Functional benefit
Brands
- Pineapple Core: All-in-one broker platform integrating CRM, training, document portal, and deal management for mortgage brokers.
- Pineapple+
- MyPineapple
- Pineapple Digital Assets
- Pineapple Juice
- Pineapple Horizons+
- Maui AI
Products and services
- Pineapple Core A single-sign-on, full-circle broker platform that consolidates lead and client management, website management, document management, digital training, and policies/compliance for mortgage brokers; reduces new-broker onboarding time to 15 minutes.
- MyPineapple / Pineapple+ Mobile App Customizable mobile app providing quick access to leads, deals, digital document collection, automated reporting, and email marketing for mortgage brokers on the go.
- Pineapple Juice LMS Dedicated 24/7 learning management system offering hundreds of hours of step-by-step interactive online training for mortgage brokers covering company tools, market knowledge, and lender products.
- Maui AI Ground-breaking AI technology that improves the homebuying experience for brokers and homeowners, also used for AI-powered recruitment and onboarding of new agents.
- Pineapple Online Mortgage Application Customizable online mortgage application embedded in each broker's Pineapple website with data capture, automated field population, and pre-qualification tool that produces a downloadable PDF for homeowners.
- Pineapple Doc Portal Secure online document uploader that allows both brokers and clients to upload, file, and organize deal documents with real-time status updates and email notifications.
- Pineapple Underwriting In-house underwriting service that handles commitment packages, conditions, closing, and compliance on behalf of brokers, with one portal for status updates from all lenders and full file visibility across Canadian provinces. Free for new agents with 65/35 or under splits; $500/transaction for higher splits.
- Brokerage Partner Network Affiliate and franchise program offering top-tier lender access, compliance administration, hiring packaging, insurance waivers, and underwriting services to 20+ partner brokerages across Canada.
- Mortgage Tokenization Platform Platform that converts Pineapple's $13.7 billion mortgage portfolio into digital assets on the Injective blockchain, initially including over $716 million CAD in tokenized mortgages, bringing real-world mortgage data on-chain.
- Digital Asset Treasury (INJ) $100 million Injective (INJ) token treasury strategy making Pineapple the first publicly traded company to hold INJ on a national exchange, targeting approximately 12% passive staking yield with a real-time public DAT dashboard.
- Real-time DAT Dashboard Public real-time Digital Asset Treasury dashboard providing transparent, updated metrics on Pineapple's digital asset holdings and INJ treasury valuation.
Quantifiable outcome
- 1,049,874 tasks generated for brokers
- +12 more outcomes
Companies that use Pineapple
Customer profileNamed customers6 records
Segments3 records
Ideal customer profiles3 records
Pineapple technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration9 records
AI capability10 records
Feature7 records
Pineapple partnerships and signals
Strategic signalPartnerships
30 partnerships are on record, tiered core, flagship and minor.
- SalesforcecorePineapple's technology platform is 'Powered by Salesforce'. Underpins the MyPineapple CRM and broader Pineapple Core integrated platform for brokers.
- EquifaxcoreStrategic technology collaboration providing credit data and analytics integration into Pineapple's mortgage broker platform.
- GooglecoreStrategic technology collaboration. Pineapple Core offers single sign-on to all tools through Google Workspace.
- Crypto.comcoreStrategic partnership to support Pineapple's $100 million Injective Digital Asset Treasury. Crypto.com provides custody and staking services for INJ assets, enabling secure storage and management for institutional participation. Announced October 2025.
- Injective FoundationflagshipDeep strategic alliance. Three Injective Foundation members appointed to Pineapple's Digital Asset Treasury Advisory Board (November 2025). Foundation introduced a protocol upgrade in January 2026 that doubled INJ token deflation via accelerated buyback and burn. Pineapple is the first publicly traded INJ holder on a national exchange. Mortgage portfolio tokenization is built on the Injective blockchain.
- Monarq Asset ManagementcoreEngaged in March 2026 (expanding an existing relationship after Pineapple's $100M private placement) to lead the Digital Asset Treasury yield strategy and portfolio construction. Monarq oversees allocation framework, staking yield optimization, and operational execution within Pineapple's liquidity and governance controls.
- Canary CapitalcoreAppointed April 2026 as a strategic advisor for the Digital Asset Treasury strategy. Previously participated in Pineapple's private placement. Advises on treasury allocation, deployment pacing, and market dynamics.
- KrakencoreInstitutional-grade infrastructure partner supporting Pineapple's Digital Asset Treasury program for INJ trading and custody.
- FalconXcoreInstitutional-grade infrastructure partner supporting Pineapple's Digital Asset Treasury program for INJ trading and execution.
- KCSA Strategic CommunicationsminorInvestor relations firm hosting Pineapple's Q2 2026 earnings call and facilitating one-on-one meetings at investor conferences (e.g., D. Boral Capital Global Conference).
- Shoreline MortgagesminorPartner brokerage in St. John's, NL (95 Bonaventure Ave, Suite 100). Part of Pineapple's brokerage network.
- APlus Mortgage GroupminorPartner brokerage in St. John's, NL (10 Austin Street). Part of Pineapple's brokerage network.
- Perfect MortgagesminorPartner brokerage in Mississauga, ON (34 Lakeshore Road East, Licence #10389). Part of Pineapple's brokerage network.
- MCommercialminorPartner commercial brokerage in Saint-Laurent, QC (402-6505 Trans Canada Route, Licence #12020). Part of Pineapple's brokerage network.
- Finc LendingminorPartner brokerage in Alton, ON (20511 Main Street, Licence #13469). Part of Pineapple's brokerage network.
- Greenhouse MortgageminorPartner brokerage in Burlington, ON (300-5500 North Service Road, Licence #13468). Part of Pineapple's brokerage network.
- iLend CapitalminorPartner brokerage in Mississauga, ON (3608 Fortune Place, Licence #13289). Part of Pineapple's brokerage network.
- Lendmore FinancialminorPartner brokerage in Innisfil, ON (1398 Lawson Street, Licence #13487). Part of Pineapple's brokerage network.
- TK Dale WealthminorPartner brokerage in Newmarket, ON (261 Plymouth Trail, Licence #13359). Part of Pineapple's brokerage network.
- Wisdom Mortgage GroupminorPartner brokerage in Oshawa, ON (213-285 Taunton Rd E, Licence #13504). Part of Pineapple's brokerage network.
- Canadian Lending HouseminorPartner brokerage in Delta, BC (Suite 306 - 8425 120 Street, Licence #MB600929). Strategic alliance with Pineapple to offer mortgage services in Western Canada, announced end of May 2023.
- CRE Capital Canada Inc.minorPartner brokerage in North York, ON (2885 Bayview Avenue, Suite 1423, Lic. M08007280). Part of Pineapple's brokerage network.
- PrimeRock CapitalminorPartner brokerage in Windsor, ON (445 Pelissier Street, Lic. 13634). Part of Pineapple's brokerage network.
- Reign Mortgage Group Inc.minorPartner brokerage in Oshawa, ON (13-285 Taunton Rd E, Lic. 13652). Part of Pineapple's brokerage network.
- Top Notch Financial ServicesminorPartner brokerage in Maple, ON (11 Melia Lane, Lic. 13591). Part of Pineapple's brokerage network.
- Newcastle FinancialminorPartner brokerage in Toronto, ON (112 Avenue Road, Upper Level, Lic. 3522). Part of Pineapple's brokerage network.
- Mortgage Made BetterminorPartner brokerage in Toronto, ON (5-11 Progress Ave, FSRA Lic 13747). Part of Pineapple's brokerage network.
- Luxe Lending CorpminorPartner brokerage in Niagara Falls, ON (4551 Zimmerman Avenue, Lic. 13555). Part of Pineapple's brokerage network.
- The Poised Investor Financial Inc.minorPartner brokerage in Concord, ON (2008-290 Caldari Road). Part of Pineapple's brokerage network.
- Mortgage MagicminorPartner brokerage in Scarborough, ON (102-2425 Eglinton Avenue East). Part of Pineapple's brokerage network.
Scale indicators12 records
Recent moves8 records
Expansion highlights6 records
Pineapple competitors and assessment
Company assessmentDirect peers
- Dominion Lending Centres: Canada's largest national mortgage brokerage network, franchising brokers across the country. Highly comparable to Pineapple's partner brokerage model and lender panel access, though operating at significantly larger scale and a different ownership structure.
- nesto: Canadian digital mortgage lender and brokerage that operates a cloud-based platform connecting borrowers to multiple lenders. Directly comparable to Pineapple's homeowner-facing online application, mortgage calculators, and multi-lender broker distribution model in Canada.
- Mortgage Architects: Canadian mortgage brokerage network offering affiliated brokers access to lenders, technology, and operational support. Comparable to Pineapple's Brokerage Partner Network (20+ partner brokerages) and the technology-enabled franchise-like broker model.
- M3 Financial Group: Canadian mortgage brokerage with a network of affiliated brokers and access to multiple lenders. Operates a similar franchise-style model with technology and training support, comparable to Pineapple's Pineapple Core platform and Counsellor Program.
- Verico: Canadian mortgage brokerage network providing brokers with lender access, marketing, and operational infrastructure. Comparable to Pineapple's partner brokerage program and multi-provincial licensing footprint.
Broad incumbents
- Rocket Companies: U.S. mortgage fintech giant operating Rocket Mortgage and a broad consumer-direct origination platform. Comparable in technology-driven mortgage origination, AI-driven workflow automation, and same-day funding capabilities, though operating at vastly larger scale and in the U.S. market.
- Wealthsimple: Canadian consumer fintech platform offering investing, trading, and adjacent financial services. Comparable as a high-growth Canadian fintech brand serving retail consumers with technology-first experiences, though not directly in mortgage origination.
- Questrade: Canadian online brokerage and fintech serving retail investors with a self-directed platform. Comparable as a Canadian fintech incumbent using technology to disintermediate traditional financial intermediaries, with overlapping target customer demographics.
Others
- MicroStrategy: Publicly traded company that pioneered a corporate treasury strategy of holding and staking a single crypto asset (originally Bitcoin). Comparable to Pineapple's Digital Asset Treasury strategy as the canonical precedent for a public company converting its balance sheet into a crypto-asset narrative.
Emerging players
- Better.com: U.S. digital mortgage lender with technology-led origination and an AI-forward product vision. Comparable to Pineapple's Maui AI and Pineapple Core technology stack for digital mortgage experiences, though operating in the U.S. and at a different growth stage.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
Pineapple social profiles
Digital presencePineapple financial estimates
Financial estimateRevenue estimate
Valuation estimate
Pineapple leadership team
Management profileNumber of profiles
Profiles15 records
Pineapple subsidiaries and ownership
Company hierarchySubsidiaries20 records
Pineapple funding detail
Funding detailFunding overview
Funding rounds4 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Pineapple M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Pineapple
What does Pineapple do?
Pineapple Financial Inc. operates a Canadian mortgage brokerage network providing residential mortgages, refinances, purchases, and private mortgages through a network of 700+ brokers/agents and 20+ partner brokerages. The company supports brokers with a proprietary integrated technology platform (Pineapple Core) for CRM, compliance, training, and deal management, and increasingly operates a digital asset treasury strategy and a mortgage tokenization platform built on the Injective blockchain.
Is Pineapple a public or private company?
Pineapple is a public company. It is classified as public and is currently operating.
When was Pineapple founded?
Pineapple was founded in 2016. It employs 51 to 100 people.
Where is Pineapple based?
Pineapple is headquartered in North York, Canada, in the North America region.
How does Pineapple make money?
Four revenue lines are on record. Mortgage Brokerage Commissions are the primary driver. The others are underwriting Services Fees, digital Asset Treasury Yield and mortgage Tokenization Platform.
Who are Pineapple's main competitors?
Direct peers on record are Dominion Lending Centres, nesto, Mortgage Architects, M3 Financial Group and Verico. Broad incumbents are Rocket Companies, Wealthsimple and Questrade. MicroStrategy is listed as an others. Better.com is listed as an emerging player.
Does Pineapple have an API?
No public API is recorded for Pineapple.
What industry is Pineapple in?
Pineapple's product category is Mortgage Brokerage Services. Its primary akta.pro industry code is FSALABAA, Retail Residential Mortgage Brokers (Purchase & Refinance), with a secondary code of FSAEAJAB, Commercial Real Estate Brokerage (Leasing & Sales). Its NAICS code is 522310 and its SIC code is 6162.