Canadian startup news of the week (10/23/22)

Plus: Meet Alberta's new innovation minister.

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

Wealthsimple first FinTech startup approved by Bank of Canada for direct settlement

“Approval is monumental for our business but beyond that, will change the landscape of financial services in Canada,” wrote Wealthsimple CEO Michael Katchen in a LinkedIn post published Tuesday morning. “This decision helps level the playing field with incumbents.”

Element AI co-founder launches Waverly to fix the internet by changing the way people consume content

Waverly’s goals are more ambitious than curating content for career professionals. CEO Philippe Beaudoin hopes the company can change the way people consume content on the internet.

Nate Glubish new Alberta innovation minister as Premier Smith names cabinet

“This is my world, this is my wheelhouse,” Glubish said. “Their language is my language, and I’m looking forward to spending more time focusing exclusively on technology innovation-related matters.”

Volta drops interim label, officially appoints Matt Cooper as CEO

As Volta’s new CEO, Cooper brings more than two decades of experience in Halifax’s tech industry as a corporate executive and entrepreneur. In 2014, he co-founded Swept, a SaaS provider for commercial cleaning and janitorial businesses.

The BetaKit Keynote Stage returns to SAAS NORTH 2022

Similar to last year, SAAS NORTH’s main stage will be renamed the BetaKit Keynote Stage for the entirety of the two-day conference, featuring content co-programmed and moderated by BetaKit.

With HQ half a world away, how do Xero’s Canadian hubs stay connected?

Speaking with BetaKit, VP of Engineering Patrick Smith explained how Xero’s hubs all stay connected to one another, how employees align to global business decisions, and what it means to ‘be a Xero’ around the world.

Latest Funding, Acquisitions, and Layoffs

  • VAN – Datajoy acquired by Databricks (read more)

  • SSK – Vendasta acquires Yesware (read more)

  • WIN – Manitoba appoints board for $50M provincial fund-of-funds (read more)

  • HAM – VoxNeuro – $4M (read more)

  • TOR – Ten Thousand Coffees – $75M (read more)

  • TOR – ChainSafe Systems – $25.7M (read more)

  • TOR – Perch – $4M (read more)

  • TOR – Super Advisor – $2M (read more)

  • TOR – SingleKey acquires Naborly (read more)


“One of the things that’s funniest in tech is the complete and utter lack of self-awareness.”

Comedian and podcaster Alexis Gay joins to share her transition from working in tech to creating content that perfectly articulates the absurdities of working in tech.


“I think it’s hard to beat the optimist out of a VC.”

The Globe and Mail’s Sean Silcoff joins to discuss whether or not the Canadian tech boom is fizzling out. Public policy expert Vass Bednar joins to discuss which Canadian companies are quietly adopting and emulating big-tech strategies to their benefit.

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Michael Edgar

Michael Edgar

Michael is a multimedia journalist working out of the U.K. and a staff writer for BetaKit.

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