F|T: The FinTech Times – Wealthsimple expands crypto portfolio

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Following $61 million TSX IPO, Propel Holdings eyes US expansion (BETAKIT)

Following a summer slowdown, a wave of Canadian tech startups have returned their focus to public markets. This week, Propel Holdings completed its Toronto Stock Exchange (TSX) initial public offering (IPO), and a trio of other firms took steps towards their own TSX IPOs, including E Automotive, Sharethrough, and Q4 Inc.

Fraction raises $20 million to offer home equity solution to U.S. market (BETAKIT)

Vancouver-based startup Fraction Technologies has secured $20 million CAD in Series A financing to fuel product development and its expansion into the United States. The funding follows Fraction’s $289 million February raise, which consisted of a combination of equity and debt.

FTX raises $420,690,000 (COINDESK)

It’s a nice Series B-1 for Sam Bankman-Fried’s crypto exchange following a $900 million mega-round earlier this year.

Axis Auto Finance lands $15 million to roll out digital loan product (BETAKIT)

Axis plans to use the proceeds for the roll-out of digital loan origination channels, as well as “general corporate purposes.”

Brex just signed a term sheet for $300M at a $12.3B valuation (TECHCRUNCH)

The fact that Brex is now a decacorn is somewhat remarkable, given its relatively young age.

Following refocus and rebrand, Lydia AI secures $10 million CAD to make health insurance more inclusive (BETAKIT)

Insurtech startup Lydia AI, formerly Knowtions Research has raised $10 million CAD to launch the first series of insurance products using its health score technology in Taiwan, as it targets the Asia-Pacific insurance market.

UK online lender Zopa valued at $1 billion in SoftBank-led funding round (CNBC)

Zopa is now valued at $1 billion, making it the latest European FinTech to achieve “unicorn” status.

Wealthsimple launches crypto investing for group retirement funds (BETAKIT)

The launch is part of Wealthsimple Work, a division of the FinTech company that offers a Group Registered Retirement Savings Plan (GRSP) for companies.

Eye-scanning silver orb cryptocurrency launches with $1 billion valuation (VICE)

Worldcoin envisions mass producing tens of thousands of silver orbs operated by entrepreneurs scanning eyeballs in return for free crypto.

Pocketed secures $1 million CAD to help more companies access grant funding, power US expansion (BETAKIT)

Vancouver-based startup Pocketed has raised $1 million CAD to fuel its expansion into the United States. Since launching its grant-matching platform in February, Pocketed has generated significant traction and teamed up with fellow Canadian FinTech firms Boast.ai and Clearco.

Square signals Toronto-based executive will lead push into bitcoin mining (FINANCIAL POST)

According to Square CEO, Jack Dorsey, Afshin Rezayee, the creator of the San Francisco-based FinTech firm’s Toronto silicon team, will spearhead the company’s push into Bitcoin mining. The news follows Square’s recent decision to bring its business expense card to the Canadian market.

CapIntel signs partnership with IG Wealth Management (BETAKIT)

The startup’s platform spans modelling investment comparisons, preparing compelling proposals, and tracking compliance checkpoints.

How this Indigenous-led VC firm invests for financial and community impact (BETAKIT)

Fresh off the final closing of its $25 million initial fund, Raven is now looking to write $250,000 to $2 million cheques into purpose-driven Indigenous-led enterprises.

Cisco Canada survey reveals how startups and SMBs are approaching post-pandemic recovery (BETAKIT)

With responses from over 1,000 startup and SMB leaders, the results show a potential misalignment between leaders’ stated challenges, priorities, and areas for investment.

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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