Canadian Wealthtech PureFacts Scores CAD $20 Million from Scotiabank & Round 13 Capital

PureFacts Financial Solutions, a global WealthTech provider of fees, reporting and AI-powered predictive analytics solutions, recently announced it secured CAD$20 million in financing from Scotiabank and Round 13 Capital. Founded in 2010, PureFacts uses its data aggregation capabilities to provide market-leading fee management and business insight solutions for the financial services industry in Canada, the U.S., and Europe.

“We use AI, big data, and our industry expertise to help firms realize value, increase productivity, reduce costs, and create an enhanced customer experience.”

PureFacts also revealed that the latest investment round is considered the first institutional investment for the privately held company, which has been self-funded since its founding.

“This investment builds on an exceptional year for PureFacts that saw the acquisition of Boston-based VennScience and Zurich-based Quartal Financial Solutions to become a truly global firm.”

Speaking about the investment, Robert Madej, CEO, PureFacts, stated:

“We are very excited to be partnering with Scotiabank and Round 13 Capital as they showed tremendous flexibility in creating a win/win scenario. Having their financial support and expertise will help us service our clients around the globe, execute on our vision, and fuel our continued growth plans.”

Bruce Croxon, Co-Founder, Round 13 Capital, further commented:

“PureFacts is the market leader, with a reputation for providing exceptional software and service to its customers. We are excited to fund the next leg of growth and look forward to working closely with an exceptional management team to help achieve their goals.”

The companyalso announced key executive appointments including Rajini McRae, a former Royal Bank of Canada executive as President, and it launched its AI-based predictive analytics product platform.

 

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