Canadian startup news of the week (08/05/17)

Welcome to BetaKit’s startup stories of the week! Here, you will find the week’s most important news, features, and editorials published on BetaKit. If you prefer this update hit your inbox every week, make sure to subscribe to the BetaKit Newsletter using the form at the bottom of this page.

Top Stories of the Week

BetaKit

500 Canada to shut down fund investments following Dave McClure scandal

500 Canada will halt all fundraising and make no follow-on investments.


BetaKit

Maluuba closes Kitchener-Waterloo office, consolidating employees in Montreal

Sources close to the matter told BetaKit that it made more sense to move to Montreal because of its robust, university-led AI ecosystem compared to Kitchener-Waterloo.


BetaKit

Ottawa’s tech ecosystem primed to grow as companies seek to attract tech talent

The city needs to fill approximately 9,724 ICT positions by 2019.


BetaKit

Next 36 founders learn to “see through a corporate lens” at Mastercard Challenge

For the past three years, Mastercard has hosted the Challenge as a way to connect with startups on the ground.


Startup Milestones

  • Lending Loop raises $2 million, launches automated investment platform (Read here)

  • Flexiti Financial raises $6.25 million to scale POS lending platform for retailers (Read here)

  • RentMoola raises $5 million to accelerate growth in North America (Read here)

  • CoPower raises $2 million for clean energy investment platforms (Read here)

  • thisopenspace brings Shopify’s point-of-sale solutions to pop-up shops in Canada and the US (Read here)

  • SourceKnowledge opens Toronto and Los Angeles offices (Read here)

  • Montreal-based law firm launches AI assistant to help people navigate Canada’s immigration process (Read here)


Must Reads

BetaKit

#BetaKit1on1: Marie Chevrier’s advice to young entrepreneurs: go for it

In this #BetaKit1on1 (powered by PwC Tech), Sampler CEO and founder Marie Chevrier tells young entrepreneurs to just go for it.


BetaKit

Ask an Investor: Should I fundraise in the summer?

The best VCs are always on.


CanCon Podcast Ep. 79: 500 Canada falls apart. What’s next?

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Feature image courtesy Twitter.

Amira Zubairi

Amira Zubairi

Amira Zubairi is a staff writer at BetaKit. As a fourth-year journalism student who has written primarily about entrepreneurship, Amira has developed a growing interest in Canadian startup, business, and tech news. In her free time, Amira enjoys reading, baking and watching legal shows.