The pitch
What walked into the Den
Alyssa Furtado, based in Kingston, Ontario, founded RateHub, a comparison site for financial products backed by its own mortgage brokerage.
She opened Season 11, episode 1, which aired in 2016, seeking $1,000,000 for 10%, a request that valued RateHub at $10,000,000.
After the show
What happened next
Joe Mimran and Jim Treliving teamed up for a joint offer of $1 million at 7%, better equity than the ask, and Furtado accepted it on air.
The paperwork never followed. By airtime Furtado said RateHub was self-sustaining and did not need the money, and the company instead pulled in a $12 million Series A from Boston's Elephant Partners at a valuation she described as many times the Dragons' implied figure, per a Queen's University alumni profile.
RateHub grew into a large Canadian fintech. Our July 23, 2026 check found a sprawling operation spanning mortgages, cards, banking, insurance and investments, with more than $23 billion in mortgages facilitated and licensed brokerage numbers on file.
Our read
The Hub verdict
The on-air math is a founder-friendly outcome: a $1,000,000 ask at 10% met with a joint offer of the same money for 7%, trimming the equity give and nudging the implied valuation past the $14 million the Dragons themselves floated.
And then the punchline that makes the whole segment academic. The deal never closed because the company did not need it, going on to raise $12 million from an outside fund. When a pitch business outgrows the Den's offer before the ink dries, the televised terms become a footnote. The ask is the number that anchors the page; the rest is context we can source.
The Dragons' best offer became irrelevant almost immediately.
Worth knowing: The on-air agreement was real but never executed; the company chose a larger outside raise, so we frame the Den deal as accepted and then declined.
