Montréal-based FinTech startup Hardbacon has acquired Findmytotal.com, a financial calculator company from India. The $15,000 deal closed on December 15.
Hardbacon was co-founded in 2017, and initially launched as an application for retail investors. It later pivoted to personal finance management and became a free resource in 2020, at the height of the COVID-19 pandemic.
With over 100,000 monthly active users, Hardbacon has developed a platform that combines planning, budgeting, and portfolio management features. It is currently working on upcoming features including an artificial intelligence (AI)-based stocks rating system, credit scores, and the web version of the Hardbacon app set to launch this month.
The startup claims to have secured around $2.3 million through three crowdfunding rounds across a span of three years.
In April 2021, Hardbacon partnered with Desjardins Online Brokerage to offer a kit for “worry-free” stock market investing. In the same month, the company announced that it intended to go public on a Canadian stock exchange by the end of 2021, retaining a lawyer and a new director of finance to do so. Hardbacon has yet to go public as of January 2022.
According to CEO Julien Brault, the acquisition of Findmytotal.com further expands Hardbacon’s FinTech product suite. As part of the deal, Findmytotal retains its brand and continues to operate independently while Hardbaconn has acquired all of the principal business assets, including its financial calculators.
“By purchasing Findmytotal.com, we are gaining access to a library of financial calculators and we will be able to launch more tools faster through access to their technology and team,” he said. Brault noted in a LinkedIn post that the deal has allowed for the addition of 26 new financial calculators to Hardbacon’s platform.
Led and launched by Sanam Patel, Findmytotal.com is a website that provides a wide range of scientific and financial calculators to the public. Some of these calculators are for car loans, home loans, child education, holiday planning, and more.
Findmytotal marks Hardbacon’s second acquisition after it bought and relaunched reward program company Grattecenne.com in August 2021.