F|T: The FinTech Times – Can Koho disrupt Canadian banking before Wealthsimple disrupts them?

Plus: Coinbase adds Shopify CEO to board of directors.

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Koho secures $210 million to give more Canadians access to wealth creation (BETAKIT)

One of the largest FinTech funding rounds ever raised in Canada, the financing comprises $150 in primary capital, $10 million in secondary for early shareholders and members of the Koho team, and a $50 million debt facility.


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Software startup Chargebee valued at $3.5 billion in latest funding round (REUTERS)

The latest round of funding more than doubles the company’s valuation in just nine months, highlighting the potential of its tools and services in helping companies manage their subscription-based models and integrate with payment networks such as Stripe and Paypal.

ClearEstate raises $16.8 million CAD to help the grieving deal with estates (BETAKIT)

In the next six months, the startup plans to expand to Florida, New York, Texas, and some adjacent states. ClearEstate plans to use its new funding, which closed mid-December, to increase its team from 50 to more than 120 by the end of 2022.

Venture froth catapults FTX to $32 billion valuation (THE BLOCK CRYPTO)

The announcement comes less than four months after FTX raised at a $25 billion valuation and just a few days after its US affiliate FTX.US announced that it had raised at an $8 billion valuation.

Fractional real estate investing startup Willow comes out of stealth (BETAKIT)

Willow’s platform will include what the startup claims are handpicked, stable, rent-generating properties from across the country.

Coinbase adds Shopify CEO to board of directors (DECRYPT)

The CEO of Shopify joining Coinbase’s board may reflect the growing role of crypto in everyday commerce.

Stamped AI closes $2 million to simplify financial statement prep for SMBs (BETAKIT)

Founded in 2017, Stamped AI is building a platform designed that uses artificial intelligence (AI) to help SMBs streamline and automate the traditionally time and labour-intensive accounting data certification process.

Crypto infrastructure firm Blockdaemon raises $207M at $3.25B valuation (COINDESK)

Sapphire and Tiger Global led the latest round, which follows a $155 million Series B last September.

Universities have a role to play in addressing BC’s tech talent crunch: report (BETAKIT)

The report, released last week by University Canada West, gathered opinions and insights from industry participants on how academia and industry can collaborate to fill the current gaps in BC’s workforce.

Independent probe finds financial irregularities at BharatPe as pressure mounts on Ashneer Grover and wife (ECONOMIC TIMES)

This comes amid mounting pressure from BharatPe’s board on the company founder Ashneer Grover to exit the FinTech firm permanently.

Wealthsimple still working on crypto wallet withdrawals (BETAKIT)

Wealthsimple announced plans to allow all of its customers to withdraw Bitcoin and Ethereum “in the next few weeks.” The Toronto-based FinTech startup first added the ability for users to deposit cryptocurrencies from external wallets into Wealthsimple Crypto in November.

$320 million crypto heist rocks ‘decentralized finance’ world (VICE)

Someone stole $320 million in crypto from the cross-chain Wormhole platform in one of the largest hacks in crypto history.

Bench CEO and founder Ian Crosby out, company brings in president (BETAKIT)

“I told everyone I was ready to move on to the next thing,” Crosby told BetaKit in an interview.

Better.com loses more top execs in wake of Vishal Garg’s return as CEO (TECHCRUNCH)

Their departures follow those of three other executives who left the company in December in the wake of the layoffs.

Josh Scott

Josh Scott

Josh Scott is a BetaKit reporter focused on telling in-depth Canadian tech stories and breaking news. His coverage is more complete than his moustache.

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