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Koho finds its flywheel.
Welcome to the BetaKit Startup Stories of the Week! Here you’ll find the week’s top news, features and editorials published on BetaKit. If you’d rather have this update delivered to your inbox every week, be sure to subscribe to the BetaKit newsletter using the form at the bottom of this page.
Top stories of the week
Koho secures $210 million to give more Canadians access to wealth creation
The question has always been: Can Koho disrupt Canadian banking before Wealthsimple disrupts them?
Founder Dax Dasilva has stepped down as CEO of Lightspeed
The move comes after Lightspeed’s share price has fallen more than 75 percent in the past six months from its peak in September following an onslaught of short sellers, low earnings guidance and a general malaise for tech stocks.
RenoRun closes $181 million CAD Series B to fuel Canadian and US expansion
In an interview with BetaKit, RenoRun co-founder and CEO Eamonn O’Rourke talked about where the startup fits into the building materials market and the opportunity to take “the back office management of a construction project out of the hands of the contractor.”
Hopper is now valued at $5 billion after a secondary deal for $35 million
Montreal-based travel booking startup Hopper has a new valuation of $5 billion after a $35 million secondary sale that allowed Hopper employees and some shareholders to sell some of their stake in the company. The new valuation comes less than six months after Hopper raised $175 million in Series G funding at a $3.5 billion valuation.
Amplify Capital closes $30.7 million in second fund looking at Quebec startups with an office in Montreal
With its much larger Fund II, Amplify aims to build on its experience and case for Fund I, increase its presence in Quebec and help more traditional investors think about impact investing.
Partial real estate investment startup Willow is coming out of stealth
Willow’s platform will feature what the startup claims are handpicked, stable, rent-generating properties from around the country.
BDC report expects tech sector revenue to grow 22 percent through 2024
BDC findings expect technology sector revenue to grow 5.3 percent in 2022 and 22.4 percent in 2021-2024.
Universities have a role to play in addressing British Columbia’s tech talent shortage: report
The report, released last week by University Canada West, gathered opinions and insights from industry participants on how academia and industry can collaborate to fill BC’s current workforce gaps.
Recent funding, acquisitions and layoffs
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BUR – Ekona Power – $79 million (read more)
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VAN – Gandeeva Therapeutics – $40 million (read more)
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TOR – VendorPM – $6 million (read more)
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TOR – BKR Capital Closes Additional $4.5M to Back Black-Founded Startups (read more)
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TOR – Pluribus Technologies acquires Kesson Group, Social5 (read more)
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TOR – Fyyne Closes Pre-Funding, Launches Platform (read more)
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MTL – Wrk – $30M (read more
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MTL – TickSmith – $20 million (read more)
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MTL – ClearEstate – $16.8 million (read more)
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VIC – Vosker – $60 million (read more)
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QC – LeddarTech – $140 million (read more)
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QC – Stamped AI – $2 million (read more)
RBC Capital Markets Global Market Outlook 2022
This year’s Global Markets Forecast combines the insights of our M&A and equity capital markets experts with the forecasts of our global economists to determine what will drive deal flow in the coming year.
For companies, ESG is a strategic imperative and an investment in the future. For investors, ESG has become a new data set for business operations, governance and sustainability. How are companies using ESG to raise capital?
Global market insights to help you lead today and shape tomorrow.
Get the 2022 forecast
HOW ADA AND BENEVITY BECAME CANADIAN TECH UNICORNS
Kelly Schmidt (Benevity) and Mike Murchison (Ada) discuss their company’s path to a $1 billion valuation, scaling and retaining talent in Canada.
WHAT HAS STOPPED CANADIAN SHIELD FROM DELIVING THE PPE AND RAPID TESTS CANADA NEEDS?
Canadian Shield made 16 million face shields at the start of the pandemic. And then they stopped. Why did they stop? What stopped them?
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