Through technology and automation, Perch’s free analytics platform gives users detailed insights into all aspects regarding homeownership, all of which is supplemented by a dedicated mortgage advisor that strategizes with clients to help them achieve their homeownership goals. Perch’s mission is to empower Canadians to make more informed decisions when it comes to real estate and building wealth, whether they are thinking of buying, ready to buy or already own.
How Perch got started
After working seven years in the financial sector, Alex Leduc, CEO and Founder of Perch, realized how disconnected the system was in the real estate industry. There was an inefficiency when it came to operating, such as paperwork, coordination and processes. He also noticed that customers didn’t have equal access to the same information as the professionals they sought out for help, and ultimately had to make decisions without being able to see the numbers for themselves.
Homeownership seemed unattainable and those who lacked sufficient liquid assets to fund their retirement had to tap into their home equity to manage. Realizing that there were no other companies addressing these issues, Alex decided to create a unique product that solved these problems.
By joining MaRS and Communitech to help reduce costs, getting loans and grants, and funding the initial startup costs with his own savings, Alex was able to launch his proptech startup in September 2018, which is now known as Perch.
What does Perch do?
With a Perch profile, users get a personalized timeline and plan, which will ultimately help them reach their real estate goals whether it’s buying a home, renewing their mortgage or helping them refinance. There are also free planning tools that help users with complex calculations so that they can clearly understand their purchasing power. Perch helps users get the most value by getting them some of the lowest mortgage rates available in Canada and optimize the offers based on the value to the specific user to ensure they get the mortgage offer that best suits their needs.
The unique platform provides a more efficient application process since it can all be done online, and a service commitment which focuses on quick response times (pre-approvals in as little as 20 minutes) so users never have to waste time waiting for a reply back if they wish to speak to a mortgage advisor. Whether you’re a first-time homebuyer or a seasoned real estate investor, Perch helps people manage their home investments every step of the way, regardless of where they are in their real estate
journey.
“At Perch, we believe that innovation is key. We are always building new tools and making improvements to the platform so people can get more insight and transparency when it comes to their financial data. Through innovation and strategic planning, we will continue to help Canadians achieve their real estate goals and unlock wealth-building potential”
– Alex Leduc, CEO and Founder of Perch
How is Perch doing today?
Since the first launch, their product has come a long way thanks to the feedback of their users. With the goal of increasing user growth, conversion as well as improving their product, the team has grown from three people in 2019 to 17 in 2022, after hiring a team of experts in growth, marketing, engineering, sales and design.
Today, the average Perch user saves $1,500 per year on their mortgage, compared to going with a bank. Perch has raised $1 million in seed round funding and was recently selected to join the 2022 REACH Canada accelerator program.
“At Perch, we believe that innovation is key. We are always building new tools and making improvements to the platform so people can get more insight and transparency when it comes to their financial data. Through innovation and strategic planning, we will continue to help Canadians achieve their real estate goals and unlock wealth-building potential” – Alex Leduc, CEO and Founder of Perch.
