Now With Desjardins to Offer You More

We are proud to announce that right around the time RenoAssistance celebrates its 10 years of service, Desjardins has become the majority shareholder of the company. This important partnership will allow us to enhance exponentially the service we offer to our contractors and clients.

Why did we decide to work with a partner?

After having been approached by several big players, Desjardins distinguished itself as the clear choice. It was clear that their objective was to ease the life of property owners and that our core values were perfectly aligned. We quickly realized that we had a common goal: to improve people’s lives. This rings true just as much for our clients, who dream of renovating their home, as for our contractors who dream of running a successful business, without having to worry about marketing and qualifying clients.

“Real estate is often the largest asset in any family,” says Martin Brunelle, Vice-President of Growth, Acquisitions and Development at Desjardins. “According to homeowners we’ve surveyed, renovations can be difficult and cause no small amount of aggravation. And it’s not necessarily any easier for commercial operators, who don’t always have the time or the expertise to vet suppliers or conduct major renovations. RenoAssistance offers a database of verified local contractors and personalized support and planning throughout the process, including in the event of litigation. We want to speed up the company’s growth across Quebec and in Ontario, where Desjardins is the leading property and casualty insurer.”

Thanks to these new resources, we aim to propel our service offerings across all of Quebec, Ontario and eventually, Canada.

Some information about Desjardins:

Desjardins Group is the leading cooperative financial group in Canada and the fifth largest cooperative financial group in the world, with assets of $312.7 billion. It has been rated one of Canada’s Top 100 Employers by MediaCorp. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada. Ranked among the world’s strongest banks according to The Banker magazine, Desjardins has some of the highest capital ratios and credit ratings in the industry.

A little information about RenoAssistance

• Founded January 2010
• Desjardins has been the major shareholder since January 2020
• 40 employees
• A 1,000-member network of Verified Contractors analyzed on 54 points
• Over $200 million in renovation projects handled annually
• Over 76,000 residential and commercial clients supported
• 82% residential projects and 18% commercial projects
• $5 million: the largest project executed by a RenoAssistance contractor
• Average project value: $17,000
• Minimum project value: $3,000
• Up to 3 quotes per project, at no cost, with no obligation

FAQ

1. Why did Desjardins decide to invest in RenoAssistance? 
   Desjardins was looking to offer complimentary support to real estate owners that undertake renovation projects, in order to help them maximize the value of their real estate investments.
2. Will RenoAssistance offer financing?
   It is expected that over time, the two entities will make connections where synergies are possible and relevant, and there is a good chance that financing will be part of that.
3. Will the RenoAssistance team change?
   The current team will remain the same. The two entities are partners, and Desjardins acts as a financial backer. RenoAssistance will maintain control over the daily activities of the company.
4. Do I need an account with Desjardins to do business with RenoAssistance?
   RenoAssistance will continue to offer its service to the entire population and to all contractors, whether they have a Desjardins account or not.
5. If I am a Desjardins member, do I have more advantages when doing business with RenoAssistance?
   The service will remain the same for all.
6. What changes will this transaction bring?
   In the short term, there will be no changes, but it is expected that over time, the two entities will make links where synergies are possible and relevant, and it is a safe bet that financing will be new part of our services.
7. Will Desjardins now contact me to offer their services?
   RenoAssistance and Desjardins remain two separate companies and no data will circulate between RenoAssistance and Desjardins without the prior authorization of customers.
8. Concretely, what will this business move change?
   Nothing for our customers and contractors. It gives us the opportunity to further improve our services in order to serve you better in the future.
9. Will Desjardins have access to my personal information?
   RenoAssistance and Desjardins remain two separate companies and no data will circulate between RenoAssistance and Desjardins without the prior authorization of customers.
10. Will RenoAssistance’s service remain without any fees and obligation?
    Yes. The RenoAssistance service remains as it is; no fees and without obligation for customers looking to undertake a renovation project.
11. Will my Renovation Advisor change?
    Our team will remain the same, although it will likely grow at an accelerated rate! Your Advisor will remain the same, unless they change positions during your project. A new Advisor will then be assigned to you.

Links to consult for more details

We invite you to check out the following links for more information on this partnership:

Press release on Desjardins.com:

https://blogues.desjardins.com/press_release/2020/02/desjardins-partners-with-reno-assistance-in-support-of-residential-and-commercial-renovation-company.php

Article on Newswire.ca:

https://www.newswire.ca/news-releases/desjardins-partners-with-reno-assistance-in-support-of-residential-and-commercial-renovation-company-s-growth-plan-808363724.html