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Clio expands into VC, FinTech with payments product, investment fund (BETAKIT)
Legaltech startup Clio has announced the launch of Clio Payments and a new fund, as the Burnaby-based unicorn joins a growing herd of companies spicing up their SaaS offerings with a pinch of FinTech.
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CoinSmart the latest Canadian crypto trading platform to receive exemption from regulators (BETAKIT)
Toronto-based cryptocurrency exchange CoinSmart has been exempted by regulators to operate as a restricted dealer under securities laws. With the news, CoinSmart has joined Wealthsimple, Coinberry, and Netcoins.
General Atlantic leads funding round in new India unicorn Acko (BNN BLOOMBERG)
Existing investors including Canada Pension Plan Investment Board and Lightspeed, a global technology-focused investment firm, also participated in the Series D round.
Fraction raises $20 million to offer home equity solution to U.S. market (BETAKIT)
Vancouver-based startup Fraction Technologies has secured $20 million CAD in Series A financing to fuel product development and its expansion into the United States. The funding follows Fraction’s $289 million February raise, which consisted of a combination of equity and debt.
BetaKit Live: The State of Canadian Startups on November 3rd (BETAKIT)
BetaKit has teamed up with Cisco Designed for a live-streamed conversation with Canadian tech and business leaders, taking place Wednesday, November 3 at 3:30 pm EST.
Ant Group-backed Paytm says it’s ‘more than well-capitalized’ after raising its IPO size (CNBC)
The startup is backed by a number of prominent investors like Japan’s SoftBank, China’s Ant Group and Warren Buffett’s Berkshire Hathaway.
Propel closes over-allotment option; receives $9 million (BETAKIT)
Toronto-based FinTech startup Propel Holdings has closed its over-allotment option, generating additional gross proceeds of $9.1 million CAD. The development brings Propel’s total IPO funding to $70 million.
Former CTO the latest Coinsquare exec to sue the crypto startup (BETAKIT)
Stephen Moreau, one of the lawyers representing Palmer, told BetaKit, “I am declining to comment save to say that my client intends to litigate his issues in the proper forum.”
Climate accounting platform Persefoni raises $101M Series B led by Prelude and TPG (TECHCRUNCH)
Persefoni is claiming this to be the largest round for a SaaS climate tech company, although TechCrunch could not confirm that at publication.
New York-based Jeeves launches corporate financing solution in Canada (BETAKIT)
New York-based FinTech startup Jeeves has launched its services in Canada as well as Colombia, the United Kingdom, and Europe, after announcing its Canadian expansion plans following a $71.6 million September fundraise.
Link Investment Management revs up to take on insurance, banking incumbents with $2.5 million (BETAKIT)
The funding round closed on October 19. With the investment, Canaccord is taking a minority stake in Link.
Why startup investors are putting more money into insurtech (CRUNCHBASE)
The activity is on all fronts, including large seed and early-stage financings, giant late-stage rounds, and a few exits from the first set of venture-backed insurance unicorns.
Neo Financial’s Series B leads Calgary’s venture funding bounce back in Q3 (BETAKIT)
Following a poor Q2 for tech investment, Calgary bounced back in the third quarter. Elsewhere, Toronto startups broke venture funding records again, Montréal and British Columbia continued to see strong results, and Waterloo Region saw deal volume hit a two-year low.
Mogo planting trees to offset carbon emissions from Bitcoin mining (BETAKIT)
Mogo claims the initiative is the first of its kind, and will include all Bitcoin members currently held from the platform. Mogo did not disclose the number of Bitcoins members hold at this time.