Canadian startup news of the week (6/27/21)

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


New Portage FinTech SPAC files for $200 million Nasdaq public offering

Sagard Holdings, the alternative investment arm of Power Corporation and manager of Portage Ventures, is launching a blank cheque company, or SPAC, focused on FinTech acquisitions.


Q4 Inc. pauses plans for $150 million public offering on Toronto Stock Exchange

As first reported by The Globe and Mail, the decision followed a planned debut on the TSX, through which Q4 hoped to raise $150 million CAD.


Naver merges Wattpad, Webtoon studio divisions, invests $100 million USD

Naver acquired Wattpad earlier this year for $754 million CAD.


Golden Ventures looks to capitalize on portfolio winners with two new funds

With its new opportunity fund, Golden is the latest home-grown VC with a dedicated fund to capitalize on larger stakes in winning companies as exits accelerate across the Canadian tech ecosystem.


BetaKit Live: Canada’s FinTech Unicorns on June 29th

On Tuesday, June 29th at 4:15PM EDT, BetaKit will be joined by two Canadian tech CEOs of unicorn companies making moves in the FinTech space: Wealthsimple’s Michael Katchen and Clearco’s Michele Romanow (exclusive to BetaKit Patreon supporters).


Latest Funding, Acquisitions, and Layoffs

  • TOR – Golden Ventures closes two funds worth combined $147M (read more)

  • VAN – LEAF Mobile to acquire Truly Social Games (read more)

  • KIT – Tulip – $34.4M (read more)

  • VAN – Trait Biosciences – $31M (read more)

  • TOR – Converge Technology Solutions acquires ExactlyIT (read more)

  • VAN – SoleSavy – $15.5M (read more)

  • TOR – ResQ – $9.75 (read more)

  • TOR – Rebelstork – $5M (read more)

  • VAN – Semios acquires Centricity (read more)

  • TOR – Joyride – $4.6M (read more)

  • TOR – Illumiti acquired by Syntax (read more)

  • QC – OSF Digital acquires Paladin Group (read more)

  • MON – ClearEstate – $2.5M (read more)

  • TOR – VerticalScope acquires Paddling.com (read more)

  • QC – Omnivigil Solutions acquired by Cloudli (read more)

  • MON – Aifred Health wins second at IBM’s AI XPrize competition, wins $1M (read more)

  • CAL – Vetsie – $285K (read more)


RECOMMENDED BY ACCENTURE

Calling Canadian health tech entrepreneurs: pitch your startup to leading North America health industry CEOs!

Accenture’s Health Tech Innovation Challenge brings together start-ups and larger health organizations to tackle the world’s biggest health issues. Now in its fifth year, the challenge gives start-ups the chance to pitch their innovative ideas to leading CEOs from across the healthcare industry in Canada and the US. Entrepreneurs will gain exposure to judges who represent the broad spectrum of Accenture’s clients in healthcare, insurance, life sciences, and government. Deadline is July 2 – apply today!


WHEN WILL CANADIAN TECH STOP PAYING PEANUTS? (AMA EPISODE)

“Can we expect that Canadian tech will start paying talent what they’re worth?” Co-hosts Douglas Soltys and Rob Kenedi are joined by producer Kattie Laur to answer listener questions.


RAY WALIA KNOWS IT’S VANCOUVER TECH’S MOMENT TO LOSE

Launch Ventures CEO Ray Walia and VRARA Vancouver President Dan Burgar join to discuss Vancouver tech: with excitement, optimism, and foreboding.


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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.