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Also: Bank of Canada’s Ron Morrow says fintechs “must be ready.”
Welcome to BetaKit Startup Stories of the Week! Here, you’ll find the week’s most important news, features and editorials published on Beta Kit. If you prefer this update to have it hit your inbox every week, be sure to sign up for the BetaKit newsletter using the form at the bottom of this page.
The main news of the week
Venture investment returns to pre-pandemic levels, Q2 2022 CVCA report shows
The economic slowdown is leading to similar investment themes in early 2020, as investors deploy capital cautiously and focus on their existing portfolio companies.
Bank of Canada’s Ron Morrow: Fintechs “must be ready” for upcoming retail payments regulations
“It’s not often that the Bank of Canada gets a new mandate, and it’s not often that you get a blank slate to work with,” said Ron Morrow, executive director of retail payments at the Bank of Canada.
AlayaCare lays off 14 percent of workforce, cuts M&A plans
The Montreal-based health technology startup recently ramped up its merger and acquisition (M&A) plans and ended two of its office leases in Victoria, British Columbia, and Queens, New York, as part of a broader push to get bigger. Money saver.
Amidst Canada’s recent wave of tech crackdowns, Communitech is bringing back its helplist
The Helplist was created in early 2020 as a grassroots response to the tech cuts of the Covid-19 pandemic by a team that included former Prospector founder and CEO Marian Bulger.
Shopify launches ‘Collabs’ to connect creators directly with merchants
Shopify says the creative economy can offer merchants a new sales channel to reach new consumers and tap into the ever-growing $104.2 billion market.
Former BDC investors Merimee Lahmami, Siddhartha Krishnan join Pender Ventures, Blue Vision.
Lahmami is a former associate at BDC’s Women in Technology (WIT) venture fund team, while Krishnan served as a partner at BDC Capital’s Industrial, Clean & Energy (ICE) technology venture fund.
How startups survive a market crash
Real Ventures partner and Founder Fuel GM partner, Peter Fishman, co-founder and CEO of Mozart Data, and Ethan Ruby, analytics partner at Craft Ventures, all talk about how the right data can help startup leaders make decisions to survive failure.
Recent funding, acquisitions and layoffs
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Van-Brush Oral Care Closes Nasdaq IPO, Raises $15.5M (read more)
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EDM – Direct-C – $3.9M (read more)
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THO – Healthy Living – $66 million (read more)
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TOR – MolecuLight receives funding from BDC Capital, iGan (read more)
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TOR – NotaryPro – $646k (read more)
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TOR – Metafold 3D – $500K (read more)
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OTT – Government of Canada invests a total of $11.2 million in 29 TV, print, gaming firms (read more)
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MTL – Connect&Go Closes Series A Payout at $6.2 (read more)
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MTL – Moozoom – $5M (read more)
Global Talent Stream needs streaming
“It’s not broken like other things.”
VanHack CEO Ilya Brotzky joined the Global Talent Stream to explain what has created a 4-6 month wait time for Canadian tech companies using the Global Talent Stream and shared a new plea for the government to make necessary changes.
Can fintech help Canadian Muslims with financial access?
I represent a different community with different interests.
Manzil CEO Mohamed Sawaf explains the cultural, regulatory and compliance barriers that are holding back more than one million Muslims across Canada from financially serving them.
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