Wiseday

Name

Wiseday

Legal name

Wiseday Financial Inc.

Website

https://wiseday.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Residential Mortgage Lending

NAICS

Activities Related to Credit Intermediation (5223)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Underwriting Automation & Income/Employment Verification (FSAGAHAD)

akta.pro secondary industry

Income & Employment Verification (VOI/VOE, payroll-linked data) (FSAGACAE)

Keywords

• Residential mortgage lending
• Instant mortgage pre-approval
• Digital mortgage platform
• Mortgage broker services
• Online mortgage origination

Headquarters

HQ city

Montréal

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Mortgage Commission: Wiseday operates with a zero-commission structure meaning savings are passed along to customers. The company generates revenue through partnerships with mortgage lenders, earning commissions on mortgages originated through their platform.
2. Lender Partnerships: Revenue is generated through partnerships with mortgage lenders, where Wiseday acts as an originator bringing qualified borrowers to lenders who fund the mortgages.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

Wiseday is a Canadian fintech operating as a direct residential mortgage lender that delivers instant mortgage pre-approvals in 5 minutes through a fully digital, 100% online platform. It works primarily through mortgage brokers who refer clients, offering competitive rates, automated underwriting, and a 4-hour SLA for broker interactions. The company has evolved from a mortgage broker to a direct lender offering Standard and Standard+ mortgage products with nationwide reach in Canada.

Product overview

Wiseday is a Montreal-based fintech company that evolved from a mortgage broker to a direct lender, operating primarily as a B2B2C platform. The core product is its instant mortgage pre-approval system, supplemented by Standard and Standard+ mortgage products offered through a nationwide network of mortgage brokers. The platform consists of a Broker Platform (B2B portal) for mortgage professionals and a Client Portal for borrowers, with additional services including a Notary Network for closing support. All offerings are delivered through a 100% digital, zero-commission online experience.

Differentiator

Problem solved

Functional benefit

Products and services

• Instant Mortgage Pre-Approval Wiseday's flagship offering enabling Canadian homebuyers to receive a shoppable pre-approved mortgage letter within five minutes through a fully digital, 100% online process requiring no phone calls. Powered by a proprietary qualification algorithm, Plaid-based identity and income verification, and a soft credit check.
• Standard Mortgage Fixed-rate residential mortgage product offering competitive rates for home purchases and renewals, accessible through mortgage broker referrals with a 4-hour SLA commitment and publicly disclosed rate sheet.
• Standard+ Mortgage Enhanced mortgage product offering some of the most competitive rates in Canada, part of Wiseday's direct lending portfolio post-transition from broker to lender.
• Broker Platform B2B portal for mortgage brokers across Canada to submit applications on behalf of clients, track status in real time, and manage client relationships, with a 4-hour SLA commitment.
• Client Portal Online portal for mortgage clients to manage their mortgage post-approval, view balances, and make payments.
• Notary Network Curated network of trusted notaries across Canada to facilitate the closing and funding steps of the mortgage process for Wiseday borrowers.

Quantifiable outcome

• 5-minute instant mortgage pre-approval vs traditional 7-day wait
• +3 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability3 records

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• PlaidcoreTechnology or IntegrationPlaid provides instant and secure identity and income verification technology that powers Wiseday's instant pre-approval process. This integration enables automated verification without requiring manual document submission or phone calls.
• Mortgage LenderscoreStrategic or Co-development PartnerWiseday generates revenue through partnerships with mortgage lenders who fund the mortgages originated through Wiseday's platform. The company acts as an originator bringing qualified borrowers to lenders.

Scale indicators3 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• nesto: Canadian digital mortgage lender offering cloud-based brokerage and direct-lending solutions with a focus on speed and competitive rates. Directly comparable to Wiseday as a tech-enabled mortgage originator serving the Canadian market through broker and direct channels.
• Pineapple: Canadian fintech mortgage company providing a digital mortgage platform with broker support. Direct competitor to Wiseday in the Canadian online mortgage origination space with similar target customers (first-time buyers, renewals).
• Ratehub: Canadian mortgage comparison and brokerage platform that connects borrowers with lenders and brokers. Comparable to Wiseday as a tech-enabled intermediary in Canadian residential mortgages, with overlapping customer segments and broker relationships.
• LowestRates.ca: Canadian financial comparison platform with a strong mortgage brokerage vertical. Comparable to Wiseday in targeting rate-conscious Canadian borrowers and operating a digital mortgage origination funnel, though with a comparison-led GTM.

Broad incumbents

• Borrowell: Canadian fintech offering credit monitoring and personal loans, with expanding mortgage offerings. Comparable as a Canadian fintech leveraging alternative data and digital onboarding — though broader in product scope than Wiseday's mortgage focus.
• Wealthsimple: Large Canadian consumer fintech with investing, savings, and lending products including mortgages. Comparable as a scaled Canadian fintech serving similar digital-native consumers; broader product portfolio but overlapping mortgage category.
• Rocket Mortgage (Canada): US-originated digital mortgage giant that has expanded into Canada. Comparable to Wiseday as a direct-to-consumer digital mortgage lender with automated underwriting, though operating at vastly larger scale and brand recognition.
• Dominion Lending Centres: Canada's largest mortgage brokerage network with thousands of brokers. Comparable to Wiseday as a Canadian mortgage intermediary operating through broker channels, though significantly larger and more established with a different technology posture.
• Better.com: US digital mortgage lender offering online mortgage applications and instant pre-approvals. Comparable to Wiseday in pioneering the digital mortgage experience, though operating primarily in the US market.

Emerging players

• 8Twelve Financial Technologies: Canadian mortgage fintech that has built a broker-facing digital platform for mortgage origination. Comparable to Wiseday as an emerging Canadian mortgage-tech player serving the broker channel, though with a different product focus.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/wisedaygo
• Instagraminstagram.com/wiseday
• Xx.com/GoWiseday

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wiseday