In 2018, Texas-based real estate technology platform OJO Labs tested the waters of the Canadian market through a partnership with the Royal Bank of Canada’s venture arm.
Then in 2021, RBCx supported the pilot launch of OJO Canada, which guides consumers through a digital-forward home-buying journey by providing a customized home search experience, on-demand access to a network of industry experts, and the support of financial resources.
This year, the Royal Bank acquired OJO Canada to “support Canadians at every stage in their home buying journey by offering intuitive, digitally-enabled and insights-driven experiences and resources to help them make one of the most important decisions of their lives.”
Since the transaction, the Canadian housing market continues to be impacted by high interest rates and turbulent economic conditions that are creating opportunities and challenges for Canadian homebuyers—a market both RBC and its subsidiary want to help clients navigate.
As of October, Toronto’s OJO Canada has rebranded to Houseful, completing RBC’s takeover.
“Houseful is working to make home ownership more accessible to anyone,” the company states online. “From saving to buying, owning to selling, we are here to guide you through all the twists and turns along the way.”
The rebrand “reflects our ambition to create a first-of-its kind home ownership platform to provide tools, resources and expertise that will support a lifetime of Canadian homeowner needs,” the startup said in a recent announcement. “We’re thinking bigger, so our consumers can too.”
Other RBC portfolio members built to support Canadians as they find, buy, and maintain homes include MoveSnap, Smart Reno, and GarbageDay.
The incumbent bank this year partnered Winnipeg fintech Conquest Planning as well as Metro in Quebec and Ontario.
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