Canadian startup news of the week (4/25/21)

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


Clearbanc rebrands, raises $350 million USD to provide full-stack founder support

With fresh capital and a new name, Clearbanc has moved beyond its investing roots to become a full-stack founder support platform.


Federal government looks to "punch our way out of the COVID recession" with #Budget2021

Provincially, BC is projecting an $8.1 billion deficit for the 2020-21 fiscal year, with a budget that focuses heavily on pandemic recovery.


Revolut CEO Nikolay Storonsky says company will return to Canada in 2022

In March, BetaKit reported that Revolut was leaving the Canadian market altogether, nearly a year and a half after the company launched a limited, beta version of its offering in Canada.


Despite small decline in deals, Waterloo Region remained a healthy startup ecosystem in 2020

Waterloo Region startups raised $689.6 million for all of 2020 — up 107 percent over 2019. An additional report from Hockeystick also indicated a potential investing gap for BC’s early-stage startups.


US private equity firm to acquire controlling stake in Axonify for $313 million CAD

In the same week, Calgary’s Absorb Software is also set to be acquired by a US private equity firm.


Latest Funding, Acquisitions, and Layoffs

  • WAT – Dejero – $60M (read more)

  • DAR – CarbonCure Technologies – $7.5M (read more)

  • WAT – NERv Technology – $3.32M (read more)


RECOMMENDED BY XERO

SIX WAYS STARTUPS CAN PREPARE FOR FINANCIAL INSTABILITY BEFORE IT HAPPENS

Despite positive indicators of recovery in the Canadian economy, the COVID-19 pandemic has proven that things can get bad quickly. Speaking with BetaKit, Xero Canada Country Manager Faye Pang shared her top six tips for what small businesses can do to prepare for financial instability.


MATTHEW LOMBARDI EXPLAINS THE NEW ONEELEVEN’S NEW FOCUS

Lombardi goes into detail on OneEleven’s new focus on talent upskilling of the startups within its portfolio, and how Venture For Canada plays a role.


HOW FLINKS PLANS TO BEAT PLAID ON ITS OWN TURF

Montreal-based Flinks is preparing to truly take on Plaid in the US market. Flinks raised a $16.2 million CAD round last year to do just that.


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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.