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
Senate passes new rent relief program, June extension of wage subsidy(BETAKIT)
Prime Minister Justin Trudeau has called for a swift passing of Bill C-9 amid increased concern around the second wave of the COVID-19 pandemic and fears of more businesses shuttering.
Nasdaq acquires St. John's based Verafin for $2.75 billion USD(BETAKIT)
The agreement included multiple commitments from Nasdaq to keep Verafin’s headquarters in St. John’s, keep its executive leadership team in place, and maintain and increase local employment levels.
Newly introduced privacy law bill includes fines for companies that don't comply(BETAKIT)
The bill is meant to modernize the Canadian government’s framework for the protection of personal information, specifically in the private sector.
Chime the latest US tech company to expand to Vancouver(BETAKIT)
Speaking with BetaKit, Chime co-founder and CTO Ryan King said the city’s talent pool and convenient time zone made it an ideal location for its first international office.
Latest Funding, Acquisitions, and Layoffs
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Silofit announces a $3.5M seed extension (Read here)
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Fiix to be acquired by Rockwell Automation (Read here)
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Aya raises a $3.7M seed round (Read here)
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Trufan acquires PLAYR.gg (Read here)
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AbCellera acquires Trianni (Read here)
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Mogo acquires Carta Worldwide (Read here)
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Carebook to acquire Novus Health (Read here)
RECOMMENDED BY CIBC
How to Beat Silicon Valley at its Own Game with Expensify CEO David Barrett(CIBC)
On the #CIBCInnovationEconomy podcast series, CEO David Barrett admits he never planned to get into the expense management space. But by saying yes to opportunities, he built Expensify into a successful innovation economy.
HOW SET SCOUTER BUILT INDUSTRY-WIDE SAFETY STANDARDS TO STAY IN BUSINESS(BETAKIT)
Alex Kolodkin, co-founder and CEO of Set Scouter, recounts how he felt as an entrepreneur when one side of his two-sided marketplace disappeared overnight, necessitating staff reductions.
SEAN SILCOFF EXPLAINS HOW 2020 BECAME THE YEAR OF THE CANADIAN TECH IPO(BETAKIT)
Shopify and Lightspeed aside, Canadian tech IPOs were few and far between. Like most things in 2020, that changed. But why, and why so dramatically?
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