Tag Archives: financial

Montreal FinTech Hardbacon hires Andrew Hungerbuhler as Chief Revenue Officer

Hardbacon, a Montreal-based FinTech company, has hired Andrew Hungerbuhler as Chief Revenue Officer.

Bacon Financial Technologies, better known by its brand name Hardbacon, is dedicated to helping Canadians make better financial decisions, get wealthier and achieve their financial goals. The company, which has secured $1.1 million in funding, markets a mobile app that links to its users’ accounts and helps them plan, budget and invest. Hardbacon also enables its users to compare different financial services such as credit cards, bank accounts, online brokers and robo-advisers. The company also markets its technology to financial institutions to help them accelerate their digital transformation.

With two decades of sales experience in the financial services industry, Hungerbuhler is tasked with driving revenue growth by putting his experience and network of contacts to work for the financial technology company’s business plan. “Hiring Andrew will enable us to accelerate sales of white label solutions to asset managers, brokers and insurance companies,” said Julien Brault, Hardbacon’s CEO.

Hardbacon currently generates revenue from Hardbacon Premium subscriptions, as well as from lead generation and sales of its two white label solutions for financial institutions : a portfolio analysis module and a financial planning module.

“With the boomer generation’s transfer of wealth that is happening right now, younger people can no longer be ignored by financial institutions,” says Hungerbuhler. They no longer have a choice but to invest in their digital experience to remain competitive, and Hardbacon is well positioned to help them make this shift.”

Prior to joining Hardbacon, Hungerbuhler held senior sales positions with several financial groups, including Sun Life, Excel Fund Management and BluMont Capital. He was also CEO of Alphalink Investment Partners, a fundraising firm.

Andrew Hungerbuhler’s appointment comes at a pivotal stage in Hardbacon’s development. In August, the company also hired Simon Vanpeperstraete, a former financial services director at BMO, as Chief Financial Officer.

Montreal Startup TickSmith, Big Data for Finance, raises $2m

Montreal firm, TickSmith,  with about 16 employees that specializes in in Big Data applications for Capital Markets and financial services, has raised $2m Canadian.

TickVault is a comprehensive software platform that leverages Hadoop and is highly scalable Its various modules include ETLs, business logic, analytics, workflow, process monitoring and data delivery. Trading groups typically use it to centralize Terabytes and Petabytes of data received from quote feeds, trading systems, event feeds and more. With multiple specialized tools and modules, the platform provides easily access to files, data, analytics, time-series and reports via point and click interfaces and APIs. TickVault can be deployed on a firm’s Hadoop cluster and in the cloud, on AWS.

Francis Wenzel, CEO and co-founder Co-Founder, TickSmith, says:

“Market participants recognise the competitive advantage that can be gained from a next generation capital markets data lake, not just in Europe and North America, but increasingly on a global basis.  As venture capital specialists within the capital markets technology space, Illuminate Financial are well positioned to help us further develop our flagship product, Tickvault, as we continue to build an international client base.”

Toronto Financial Tech Borrowell Secures $12m in Funding

Borrowell raised $12m Canadian in funding , this is on top of $4.2m they have already received.

Financing was provided by Portag3 Ventures LP, Equitable Bank and White Star Capital, with participation by FirstOntario Credit Union among others.

Borrowell is a Canadian fintech lender that offers fast, fair, and friendly personal loans, and credit scores for free. Its affordable, fixed-rate loans give Canadians a smarter way to access credit.

A wholly online application instantly provides personalized loan quotes to Canadians with good credit who want better alternatives to expensive credit card debt.

Andrew Graham, co-founder of Borrowell said:


The funding and credit will be directed towards increased marketing and providing more loans, as well as credit score monitoring. We’ve reached about 300,000 Canadians with our business, and we’re really looking to scale that number… we’re also continuously evolving our technology and making it better. That includes increasingly applying artificial intelligence in its technology.

One of the cool features of Borrowell? You can learn your credit score for free:

Wave, Toronto financial software firm, raises $32.38m Canadian in funding

Wave , the leading provider of financial management software for entrepreneurs and small business owners, raised US$24 million strategic financing.

National Australia Bank (NAB), Royal Bank of Canada (RBC), Portag3 (the investment arm of PowerCorp focusing on financial services innovations), and Exhibition Capital participated in financing the deal. The investment also includes funding from existing investors CRV, Social Capital, BDC IT Venture Fund and BDC Capital, OMERS Ventures, Harbourvest and OurCrowd.

Wave employs about 150 employees mostly in their Toronto and Kitchener offices.

The company manages more than $175 billion in income and expense transactions for its customers, including $21 billion in annual invoicing. The company’s first product was a free online accounting software designed for businesses with 1-9 employees, followed by invoicing, personal finance and receipt-scanning software (OCR). In 2012, Wave began branching into financial services, initially with Payments by Wave (credit card processing) and Payroll by Wave, followed by Lending by Wave in February 2017.

Kirk Simpson, CEO and co-founder of Wave, says,

“Since 2010, Wave has been an innovator in small business financial solutions. Our customers tell us that by deeply integrating financial services into our cloud-based software, we are helping them thrive while changing how they think about and use small business financial products.”

Toronto Dream Payments, financial service cloud company, raises $10m

The round was led by FairVentures Inc, the innovation investing arm of Fairfax Financial Holdings Limited. Connecticut Innovations (CI), Real Ventures and a prominent group of angel investors were also key participants in the financing.

Dream Payments is a fintech solutions company and developer of technology that enables leading merchant acquirers and banks to deliver mobile merchant services solutions to businesses of all sizes. Dream’s solutions are secure, EMV and PCI certified, accept Chip and PIN debit and credit cards, and Contactless payments. Dream is headquartered in Toronto, Canada and its investors include Real Ventures, Blue Sky Capital, Rouge River Capital, DonRiver Inc., and angel investors.

“The business world is rapidly transitioning to mobile commerce, which is translating into growing demand for our payments cloud, applications and services,”

said Brent Ho-Young, Chief Executive Officer of Dream Payments.

Watch Video – Every Small Business starts with a Dream, now running your business can feel like one. At Dream we make it easier to accept payments and manage your business on the go: