Today in funding: Thoughtexchange, Wellington Financial, HonkMobile


This week, Canadian companies raised seed capital, Series A rounds, and bigtime funds. Here’s the latest on who raised how much, and from whom.

Wellington Financial launches $300 million Fund V

Wellington Financial has launched Wellington Financial Fund V, the Toronto-based finance firm’s $900 million investment program. Fund V had its first close earlier this week, and the firm says that it is already “well on its way” to reaching its hard cap of $300 million of recirculating equity commitments.

“Fund V positions our firm to provide entrepreneurs with anywhere from $2 million to $40 million of growth capital per company,” said Mark McQueen, Wellington president and CEO. “Entrepreneurs need comfort that firms such as ours can grow with them as their needs evolve, and this new fund can do just that.”

HonkMobile raises $3 million in seed funding

HonkMobile, a Toronto-based provider of on-demand mobile payments for parking, has secured $3 million in seed stage funding in a round led by Impression Ventures, a Canadian venture capital firm. The company will use the funding to scale its sales, marketing and technology infrastructure to support its rapid growth across North America.

“We are changing the business of parking. Not only do we increase profitability for traditional parking operators, but we’re using our proprietary technology to bring additional parking spots into the market and monetize real estate that traditional parking technologies can’t enable,” said HonkMobile founder and CEO Michael Back. “Impression Ventures shares our vision and, with its resources and assistance, will significantly accelerate our growth plan.”

Thoughtexchange snags $7 million

Thoughtexchange, the Kootenay region-based group insight platform that provides software to have conversations between five to 50,000 people, announced that it closed a $7 million round, bringing Thoughtexchange’s total financing to $12 million to date. New investors, Marin Investments and Kingswood Capital, are joining First Generation Capital and JNKS Investments.

“Since launching our company we’ve helped solve big problems in the education and health sectors. Our customers have engaged hundreds of thousands of people across North America in important conversations, and this financing will allow us to use what we have learned to bring some exciting new products to the market,” said Dave MacLeod, CEO of Thoughtexchange. “We see an enormous opportunity to help groups of all sizes and we’re excited by what people will soon be able to do with our software.”

Jessica Galang

Jessica Galang

Freelance tech writer. Former BetaKit News Editor.

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