Canadian startup news of the week (10/03/21)

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


Raven Capital wants to invest in the Reconciliation economy

Raven Capital Managing Partner Paul Lacerte explains how the firm invests in Indigenous impact entrepreneurs in a culturally safe way.


Shopify’s global Indigenous programs lead joins Indigenous-owned Animikii

Animikii is backed by Raven Indigenous Capital Partners, which led a $1 million financing round in Animikii in 2019.


Galvanize’s journey from “written off” tech company to $1 billion exit

BetaKit spoke to Galvanize CEO Dan Zitting about the company’s road to a ten-figure exit, and what the future holds for the Vancouver-based firm.


Semios secures $100 million to further acquisition strategy, become global AgTech leader

The all-primary capital brings Semios’s total funding to date to $225 million CAD.


Former innovation minister Navdeep Bains joins CIBC as vice-chair of global investment banking

Bains first revealed that he did not plan to seek reelection in January of this year.


Lightspeed dismisses report from activist investor critical of company’s metrics

“The report contains numerous important inaccuracies and mischaracterizations which Lightspeed believes are misleading and clearly intended to benefit Spruce Point.”


Stripe to open Canadian office in Toronto, announces new products

Another American FinTech giant, Square, is also looking to expand its Canadian presence.


Latest Funding, Acquisitions, and Layoffs

  • VIC – BC’s Innovator Skills Initiative receives $14M in private investment (read more)

  • VAN – Conexiom – $130M (read more)

  • VAN – Wishpond – $6M (read more)

  • VAN – Fobi – $3.2M (read more)

  • EDM – Samdesk – $13.5M (read more)

  • GUE – MSP Corp – $35M (read more)

  • TOR – Zuva – $20M (read more)

  • TOR – AutoLeap – $18M (read more)

  • TOR – Interac to acquire SecureKey’s Canadian contracts (read more)

  • MTL – JITbase – $650K (read more)

  • MTL – Hookdeck – $320K (read more)

  • HAL – Sandpiper Ventures secures $10 million in first close for Fund I (read more)


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RAVEN CAPITAL WANTS TO INVEST IN THE RECONCILIATION ECONOMY

Raven Capital Managing Partner Paul Lacerte explains how the firm invests in Indigenous impact entrepreneurs in a culturally safe way.


SENATOR COLIN DEACON TALKS OPEN BANKING, COMPETITION, #FREEBOSWELL

“The reality is [the banks] have been used to an environment where they can increase fees without increasing value to customers.”


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Josh Scott

Josh Scott

Josh Scott is a BetaKit staff writer who loves to tell Canadian business and tech stories. His coverage is more complete than his moustache.