Q&A With M3 Group on its Acquisition of Pinch Financial

FinancialM3 Group announced last week that it had completed the acquisition of Fintech company Pinch Financial. The Toronto-based company made waves in the mortgage space when it launched in 2017 for its platform's ability to provide full mortgage qualifications in as little as 10 minutes. The partnership with M3 Group gives the company direct access to its network of more than 8,300 mortgage brokers, who will be able to access qualified homebuyers across the country. Pinch Founder and CEO Andrew Wells and Dino Di Pancrazio, Chief Strategy Officer and Head of Mortgage Division at M3 Group, discussed the deal and what it means for brokers and mortgage shoppers. Pinch is a software tool that automates the verification of borrower information, allowing for the calculation of TDS/GDS, loan-to-value, FICO, net worth, and product and rate guidelines.

M3's focus is on simplifying and reducing the time that a broker spends processing a transaction. Pinch does this by embedding the product into ancillary channels, creating the net new origination opportunity, and bringing everything to the top of the funnel. This brings everything to the zero moment of truth much closer than before. Andrew and Dino are integrating Pinch and its team with M3 Group, allowing them to leverage the API connectivity of MortgageBOSS and open up scale and choice for brokers. Pinch will be managed separately and not integrated as part of M3 Group's technology team.

M3 is a team of immigrants, people with different gender and sexual identities, young people, and aggressively tech. They are excited about the opportunity and look forward to the integration and business implementation. Dino has been involved in a number of acquisitions in the past, and the integration relies on people.