Canada

Great Hill Announces Plans to Acquire VersaPay

Growth-oriented private equity firm Great Hill announced on Friday it is set to acquire VersaPay (TSXV: VPY),  a provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment. According to the duo, Great Hill will indirectly acquire all of the issued and outstanding common… Read More

Global Payments Tech Provider Nuvei Secures $270 Million Through Equity Financing; Brings Valuation to $2 Billion

Nuvei, a global payment technology provider based in Canada, announced on Wednesday it secured $270 million in common equity financing, valuing the company at $2 billion. Nuvei reported that the investment comes primarily from its existing shareholders, which includes Canadian private equity firm Novacap, supported… Read More

FrontFundr Officially Announces Partnership with DealSquare thus Expanding Investor Access to Private Securities Offerings

Peter-Paul Van Hoeken

FrontFundr, Canada’s largest equity crowdfunding platform and exempt market dealer, has partnered with DealSquare, a centralized platform for private securities offerings. Crowdfund Insider previously revealed the news when it was posted on an affiliated website. Silver Maple Ventures, the holding company of FrontFunder, said in… Read More

Canadian Fintech FlexPay Secures $6 Million Through Latest Investment Round Led By Impression Ventures

FlexPay, a Canada-based fintech that uses AI and machine learning to help merchants recover lost revenues from declined transactions, announced on Monday it secured $6 million through its latest investment round, which was led by Impression Ventures with participation from BMO Capital Partners and Anges… Read More

Report: Bitcoin Mining Company Great North Data Has Gone Bankrupt in Labrador

A cryptocurrency mining company that received grants and unsecured loans from several Canadian government agencies has filed for bankruptcy, CBC reports. According to the outlet, bankruptcy documents filed last month indicate that Great North Data has liabilities of $13.2 million CAD and assets of $4.6… Read More

Canadian Neobank Koho’s Series B Funding Round Secures Additional $25 Million

Koho, a neobank that offers Canadians an alternative to traditional banking, announced this week its Series B funding round, which received $42 million and was led by Portag3 Ventures earlier this year, secured an additional $25 million from Drive Capital and National Bank of Canada. … Read More

Report: Ambitious Quebec Cryptomining Firm Bitfarms Grappling with Noise Complaints and Executive Shake Up

A Quebec-based cryptomining firm that transformed five abandoned industrial facilities in small-town Quebec into 24-7 digital currency factories has run into trouble of late thanks to noise complaints and an executive shake-up, The Canadian Press reports. Many cryptomining ventures that expanded heartily during the crypto… Read More

Report Outlines Ontario’s Policy to Remove Regulatory Burdens in Capital Markets, Boost Fintech Innovation

This week, the Ontario Securities Commission (OSC) published a report on how it intends to dramatically reduce the regulatory burden in Canada’s most economically robust province. The report was completed after a 12 month review period and supported by the Ontario Ministry of Finance. Governments… Read More

Ontario’s Government to Reduce Regulatory Burdens, Improve Innovation in Fintech Including Harmonized Crowdfunding Rules

The government of Ontario is looking to updating their regulatory policies for capital markets while reducing the regulatory burden. Improvements for both large and small firms are the goal. This includes innovative businesses in Fintech as they will receive: “more flexibility in the OSC’s approach… Read More

NEM Ventures Strategically Invests in Cyclebit, a Company that Provides Tools for Accepting Cryptocurrency and Fiat Payments to Online and In-Store Merchants

NEM Ventures, the venture capital and investment division of the NEM blockchain ecosystem, one of the world’s largest cryptocurrency platforms with a market cap of more than $300 million (at time of writing), has reportedly made an investment in Cyclebit, a provider of “simple, affordable… Read More

Scotiabank Introduces New Program for Senior Employees to Understand Ethical Principles for Using Artificial Intelligence

The Bank of Nova Scotia (Scotiabank), the third-largest bank in Canada in terms of market capitalization and deposits, is introducing a new program that will give the institution’s senior workers an opportunity to understand the ethical principles and guidelines involved in using artificial intelligence (AI)-based… Read More

Walmart Canada and DLT Labs Launch Comprehensive Supply Chain DLT Software System

Walmart Canada (NYSE:WMT) and DLT Labs have announced the launch of the, “world’s largest full production blockchain solution for industrial application.” The system is a “blockchain-based” (or distributed ledger technology) freight and payment network that, “establishes state-of-the-art collaboration and information sharing with 70 third-party trucking companies… Read More

Montreal-based Artificial Intelligence Firm Stradigi AI Raises $40.3 Million via Series A Investment Round

Montreal-based Stradigi AI, a firm focused on developing artificial intelligence (AI)-powered solutions, revealed on November 12 that it had raised $53 million CAD (appr. $40.3 million) via a Series A investment round. The capital raised will be used to support the firm’s expansion into North… Read More

RBC Confirms It Has Filed Patent Regarding Possible Crypto Trading Platform

A spokesperson for the Royal Bank of Canada (RBC) has confirmed that the top 5 Canadian bank has filed patents for crypto trading platform technology. The spokesperson would not confirm plans to launch, however. “(L)ike many other organizations,” Jean Francois Thibault told The Logic Monday, “(RBC) files patent… Read More

Monetary Authority of Singapore Boosts Fintech Cooperation with Canada, Tightens Relationship with Banque de France

The Monetary Authority of Singapore (MAS), the leading financial regulator and central bank of Singapore, has announced renewed cooperation on Fintech with Canadian Securities Regulators while simultaneously announcing a tighter relationship with the Banque de France. The announcements were released during Singapore’s annual Fintech Week… Read More

Department of Homeland Security Funds Blockchain Trial for Tracking Oil

The US Department of Homeland Security (DHS) has granted Toronto-based Mavennet Systems $182,700 USD to modify its oil and gas industry blockchain so it can be used by US Customs Border Protection (CBP) to cross-border oil imports. Once adapted, the tech will be used in… Read More

Canada’s Fintech Firm Mylo Raises $10 Million via Series A Investment Round Led By National Bank’s VC Division

Montréal, Quebec-based Mylo, a Fintech firm launched with the social mission to help people achieve their financial goals, has acquired $10 million in financing for its app that lets users automate their saving and investors. Mylo’s Series A investment round was led by Canadian National… Read More

Report: Third Vancouver Crypto Exchange Investigated by BC Securities Regulators

Another Vancouver-based cryptocurrency exchange, ezBTC, is being investigated by the BC Securities Commission (BCSC) after the regulator received complaints from customers claiming they cannot access funds stored on the platform, The Tyee reports. The investigation was confirmed in an exclusive statement from the BCSC to… Read More

Emsisoft: Ransomware Attack on Nunavut Government Part of a Pattern

A ransomware attack that disabled government communications systems in the northern Canadian territory of Nunavut November 2nd is part of a pattern of attacks being launched against non-US targets, cybersecurity firm Emsisoft claims. The company says ransomware attacks are increasingly being directed at municipalities, hospitals and… Read More

Another Canadian Crypto Exchange Folds, $16 Million CAD in Customer Funds Outstanding

Another Canadian cryptocurrency exchange has folded with customer money outstanding. According to an affidavit filed at the BC Supreme Court by Sammy Wu, Lead Investigator (Enforcement) at the British Columbia Securities Commission (BCSC), the Einstein Exchange in Vancouver has gone offline, its offices are locked and its… Read More

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