F|T: The FinTech Times – Things at Better are getting worse

Plus: Canadian tech salaries jumped 38 percent since 2019, but attracting talent is tough.

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Convictional secures $50.7 million CAD, announces UK expansion (BETAKIT)

Riding on the coattails of a growing e-commerce sector, Toronto-based Convictional has secured $50.7 million CAD in Series B funding to grow its team and ramp up its product development efforts. The raise comes less than five months after Convictional announced its Series A round.


Competition for software developers is intensifying.

Information and Communications Technology Council is expecting digital jobs in Canada to surge above 2.2 million, adding nearly 250,000 vacancies by 2025.

Canadian companies are taking advantage of working remotely in distributed teams and your industry competitors are finding talented engineers elsewhere at reasonable rates.

Hiring Latin American developers makes a lot of sense. The region’s universities and startups produce highly skilled software engineers with international startup experience. Their convenient time zone and lower rates make this option a no-brainer.

Tap into DevEngine’s Latin American network, and see for yourself!

Crypto company Circle comes back around on SPAC deal while doubling its valuation to $9B (CRUNCHBASE)

The crypto market remains bumpy, but Boston-based Circle Internet Financial seems to have found a way around that.

New report on Canadian venture, private equity landscape shows firms failing when it comes to inclusion side of D&I (BETAKIT)

Based on a Diversio survey of 413 individuals, the number of women venture capital (VC) investors has increased since 2019, but still make up less than 20 percent of all partners in Canada.

Nigerian firm valued at $6 billion on U.S. OTC seeks new funding (BNN BLOOMBERG)

Nigerian financial-technology company Tingo Inc is seeking $500 million to expand across Africa partly through acquisitions, Chief Executive Officer Dozy Mmobuosi said.

The many obstacles to inclusion in startups (and one aid from Innovate BC) (BETAKIT)

As companies globally face the Great Resignation or Great Reshuffle, building inclusive workspaces is necessary to not only fill staffing gaps but also stem the tide of resignations within your organization.

Pine Labs raises $150 million from Alpha Wave (ECONOMIC TIMES)

The first tranche of $75 million from Alpha Wave has already been disbursed, regulatory filings by the company in Singapore show.

Canadian tech salaries jumped 38 percent since 2019, but attracting talent is tough: reports (BETAKIT)

“Global hiring has never been more popular between pandemic-related office closures, fierce talent competition, and a bevy of online tools enabling collaboration and reducing hiring complications,” the report noted.

Emergencies Act won’t stop protest funding, crypto CEO says (THE GLOBE AND MAIL)

Canada’s cryptocurrency sector has been under increasing scrutiny as supporters of the protests turned to alternative forms of fundraising.

With Portage backing, New York-based LoanStreet eyes Canadian market (BETAKIT)

Armed with fresh financing from Portage Ventures, New York-based FinTech startup LoanStreet might soon expand its services north of the border. Portage led LoanStreet’s $25 million USD Series B round. Portage’s Adam Felesky believes “Canada could be an interesting market for LoanStreet.”

African FinTech Flutterwave triples valuation to over $3B after $250M Series D (TECHCRUNCH)

At $3 billion, Flutterwave is currently the highest valued African startup, surpassing the $2 billion valuation set by SoftBank-backed FinTech OPay and FTX-backed cross-border payments platform Chipper Cash last year.

BetaKit Live: Checking in with BC’s SaaS Unicorns, Clio and Trulioo on February 23rd (BETAKIT)

On Wednesday, February 23rd at 4:00 pm ET, BetaKit Patreon supporters have a front-row seat to hear from both startups on transitioning strategies and searching for growth after attaining unicorn status.

Buyout firm Madison Dearborn to take MoneyGram private in $1.8 billion deal (REUTERS)

MoneyGram had initially received a $10.50 per share offer from Madison, as well as competing bids from Siris Capital Group LLC and Advent International Corp, Reuters reported last month.

Wafra Capital Partners acquires Toronto FinTech startup Financeit from Goldman Sachs (BETAKIT)

Goldman Sachs Asset Management has sold Toronto FinTech startup Financeit to Kuwait-controlled, New York-based investment advisory firm Wafra Capital Partners for an undisclosed amount. The sale comes five years after Goldman Sachs acquired a majority stake in Financeit.

Better.com loses more senior execs as employees brace for another mass layoff (TECHCRUNCH)

More executives have resigned from Better.com nearly three months after the online mortgage lender laid off 900 employees via Zoom and as the company prepares for more layoffs, according to multiple sources familiar with the internal happenings at the company.

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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