Halifax-based insurtech startup QuickFacts has secured $2 million CAD in seed funding to support its expansion into Québec and the United States. The funding round was led by Sandpiper Ventures, with participation from Killick Capital, InsurTech NY, and several angel investors, including industry veterans like Paul Hill, Phil Gibson, and Neil Mitchell.
Founded in 2020 by Jeff and Christy Barsalou, QuickFacts offers an innovative platform that aggregates and compares insurance carrier underwriting information, streamlining the workflow for brokerages. With this new capital, QuickFacts plans to hire additional staff to support its Canadian expansion, break into the US market, and explore new product lines. The company has already seen rapid growth, tripling its active users over the past year and expanding its reach to 100 brokerage clients and 2,500 users across multiple Canadian provinces.
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Addressing Market Needs with Technology
QuickFacts aims to address the pain points faced by brokerages, particularly in the US, where market and state differences complicate operations. CEO Christy Barsalou emphasized the importance of technology in helping brokers stay competitive amidst rapid changes in carrier information. The platform, which initially launched in Ontario and Atlantic Canada in 2022, has since expanded to Alberta, Manitoba, Saskatchewan, and British Columbia.
With this latest round of funding, The canadian firm is well-positioned to continue its North American expansion and enhance its offerings to better serve the insurance industry.
