Report: Québec VC funding continues downward spiral in Q3 2024, but shows early-stage promise
Québec saw a significant dip in venture capital (VC) in Q3 2024, continuing a multi-year trend and ranking the quarter in the bottom five of the past 10 years, according to a new joint report from Réseau Capital and the Canadian Venture Capital Association (CVCA). Twenty-five VC deals in Québec closed this past quarter with […]
Scaling infrastructure for a market that never sleeps
BetaKit is proud to present Changemakers, an AWS Startups series spotlighting Canadian tech companies solving complex global challenges. Read part one here. It only takes the hit of a button to buy crypto, but it takes much more to make the transaction happen. The crypto market has faced accelerating momentum this year. Regulators are providing […]
Pender Ventures closes second B2B software, healthtech-focused VC fund at $100 million
Vancouver-based venture capital (VC) firm Pender Ventures has closed its second fund with over $100 million CAD in total commitments to invest in early-stage Canadian business-to-business (B2B) software and healthtech startups. Pender Ventures, which is the VC arm of Vancouver investment firm PenderFund Capital Management, announced the first close of the Pender Technology Inflection Fund […]
Mastercard and VoPay help empower a cross-border economy
When Hamed Arbabi ran a Vancouver-based telecom venture, his company was working with thousands of operators and retailers across five different continents. Paying them was the hardest part. “Our finance team was growing at the same pace as our engineering and sales teams,” Arbabi recalls. “At some point, we had 60 people constantly trying to […]
Nuvei posts revenue growth in final earnings as go-private deal gets green light
Montréal-based payments company Nuvei reported yet another quarter of growth in revenue and transaction volume in what may be its last-ever quarterly earnings in its current form as a publicly traded company. Nuvei is looking to add more than 300 roles across its product, technology, and commercial teams. In its Q3 earnings report following market […]
Richa Mehta joins Radical Ventures as San Francisco-based partner
Toronto-based artificial intelligence (AI)-focused venture capital (VC) firm Radical Ventures has tapped Richa Mehta as its newest partner. Mehta will help lead Radical’s growth strategy, taking on typical partner responsibilities like leading investments, taking board seats, interfacing with limited partners, and helping grow Radical’s team, Radical partner Aaron Brindle told BetaKit in an email statement. […]
Trolley secures $32 million CAD Series B to expand payout platform’s global reach
Montréal-based payout platform Trolley has raised $32 million CAD ($23 million USD) in Series B growth equity financing to expand the global reach of its payout management software. New investor and Boston-based B2B SaaS firm Wavecrest Growth Partners led the round, with follow-on support from New York-based Pace Capital. “Raising investment from US backers while […]
Clio boosted Canadian VC investment in Q3 2024, but early-stage funding reaches “worrisome” low
Despite an uptick in Canadian venture capital investment in Q3 2024, pre-seed and seed investments have sharply declined throughout the year, which the Canadian Venture Capital and Private Equity Association (CVCA) says could spell trouble for Canada’s early-stage pipeline. According to a new CVCA report for Q3 2024, Canadian venture capital investment reached $2.65 billion […]
Office management startup GPHY plans to grow sales outside of Québec with $5-million CAD seed round
Québec City-based GPHY has raised a $5-million CAD seed round to bring its workplace management app to clients outside of its home province. GPHY (pronounced jee-fye) offers a combination of hardware and software products that allow companies to track physical office usage. Its flagship product, Elia, offers a real-time dashboard for managers to monitor statistics […]
1Password alters leadership with David Faugno appointed co-CEO alongside Jeff Shiner
Toronto-based 1Password has shifted president and chief operating officer, David Faugno, to serve as co-CEO alongside longtime leader Jeff Shiner. “[Faugno’s] expertise in scaling high-growth tech companies perfectly complements my focus on product innovation.” Jeff Shiner1Password Faugno’s involvement with 1Password dates back approximately six years. He initially acted in an advisory capacity following 1Password’s 2019 […]