Ignite Services Inc., a digital insurance brokerage based in Waterloo, Ontario, along with its affiliated entities, entered into CCAA protection on October 30, 2023, after accumulating about $72.7 million in liabilities. Since its founding in 2018, Ignite had operated at a loss, with total losses exceeding $59.8 million. The company faced challenges due to low rates from insurers, high customer acquisition costs, and substantial investments in technology. In August 2022, its ultimate parent, Primary Group Limited, ceased funding Ignite due to ongoing financial losses. Consequently, Ignite initiated an informal sales process in May 2023. This process culminated in a purchase agreement with Southampton Financial Inc., which will be executed during the CCAA proceedings. The agreement was facilitated by a DIP loan from Primary Group. KPMG serves as the court-appointed monitor. Legal advisors for the transaction include Osler for the monitor, Stikeman Elliott for Ignite, Norton Rose Fulbright for Primary, Dentons for Southampton, and Fasken for Aviva Insurance Company of Canada.