Edison Financial reboots itself to launch Canadian digital mortgage start-up
Canadian mortgage start-up Edison Financial has rebooted itself and applied for a brokerage licence in Ontario, with Lendesk Technologies at the centre of its tech stack.
Hash Aboulhosn, founder of Edison Financial, wound down the firm in 2018 when he joined Lendesk Technologies as chief financial officer.
Aboulhosn has now left to restart Edison and is bringing former employer Lendesk along for the ride, deploying the firm’s Spotlight system as its lender submission platform
“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 says.
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Edison Financial has secured seed funding from Rock Holdings, the parent company of Detroit-based Quicken Loans, the largest mortgage lender in the US. Rock Holdings is also a parent company of Lendesk Technologies, having acquired the vendor in April 2019.
“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,” he adds.
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.