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
Nearing the first close of his $500 million private equity fund, Maverix's John Ruffolo wants to help build "another 10 Shopifys"(BETAKIT)
In an interview, Ruffolo said Maverix has closed a “substantial chunk” of its target, though did not disclose exact numbers.
Vendasta has yet to price the offering. It is set to be listed on the TSX under the symbol ‘VND.’
The new fund exceeds Inovia’s target raise of $400 million and brings the firm’s total capital under management to more than $1.5 billion USD.
Revolut leaving Canadian market(BETAKIT)
In an email shared with Revolut Canada beta users and obtained by BetaKit, the company stated it is “discontinuing [the] Revolut Canadian beta from March 15, 2021.”
“This is a good sign they’re realizing, ‘okay, we need to focus on BC and put boots on the ground.’”
With a network that includes the Sobey family, LongShot may just be able to attract larger amounts of capital and limited partners (LPs) for future funds.
Latest Funding, Acquisitions, and Layoffs
Greensoil PropTech Ventures secures $50 USD seed round (Read here)
Livescale raises $2.5M (Read here)
Axonify acquires MLevel (Read here)
Brim Financial raises $25M (Read here)
NuRobotics receives $1M in funding (Read here)
Launchtrip raises $4.7M in funding (Read here)
Maropost acquires Neto (Read here)
AppDirect lands $54.8M loan (Read here)
RECOMMENDED BY CISCO CANADA
Entrepreneurs, business leaders, and members of the Canadian tech community join for a panel conversation on leading through change Tuesday, March 30.
“Our expectations as consumers have fundamentally shifted. There’s a new gold standard in town.”
InteraXon founder Ariel Garten joins to share insights gained from reading people’s (anonymized) brainwaves during a pandemic.
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