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

500 Canada to shut down fund investments following Dave McClure scandal(BETAKIT)

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

Maluuba closes Kitchener-Waterloo office, consolidating employees in Montreal(BETAKIT)

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.

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

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

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

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

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

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

Ask an Investor: Should I fundraise in the summer?(BETAKIT)

The best VCs are always on.

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

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Amira Zubairi

Amira Zubairi is a staff writer and content creator at BetaKit with a strong interest in Canadian startup, business, and legal tech news. In her free time, Amira indulges in baking desserts, working out, and watching legal shows.

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