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Wealthsimple Sells UK Business Volume As FinTech Giant Focuses Only On Canada (For Now?) (BETAKIT)
It’s been a busy week for Wealthsimple, which announced that it had sold its UK business portfolio to Moneyfarm, completing a transition it started earlier by selling its US business portfolio (US). -U.) To focus its efforts on Canada. The startup also shared a price change for its Trade service designed to simplify transactions in the United States. Is Wealthsimple looking to create Canada’s super FinTech app?
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Wealthsimple Trade will launch the “Plus” level, remove the “Premium” offer, streamline trading in the United States (BETAKIT)
This change to Wealthsimple’s Trade service is a win-win: users active on the platform are rewarded with reduced fees, even US stock exchanges – which have seen the app reach number one on Apple’s Canadian App Store in January – become more palatable, and Wealthsimple makes more money per month if its users do nothing at all.
Canadian tech investor Georgian targets $ 2.8 billion for two funds (WALL STREET JOURNAL)
Like a growing number of tech investors, Toronto-based Georgian wants to double his best investments, and the company is launching a $ 1.5 billion fund that would give him money to do just that.
Nuvei shares tumble amid report on short sellers (BETAKIT)
Nuvei saw its stock price drop rapidly after a short sellers report from Spruce Point Capital Management, which also recently targeted Lightspeed Commerce, accused Nuvei of covering up a pattern of trade failures, lack of organic growth and a “network of relationships with individuals connected to major Ponzi schemes and suspected fraudulent activity.” Nuvei has since called the report “intentionally misleading”, adding that it “draws inaccurate conclusions”.
Portage Ventures’ New $ 600 Million Fund Seeks To Invest Directly In Cryptocurrencies (THE LOGIC)
After this article was published, Sagard Holdings spokesperson Adam Daifallah emailed The Logic that Portage Ventures “does not intend to invest directly in cryptocurrencies or to buy tokens, and did not “.
How to (succeed) rotate your startup, from a company that has done it twice (BETAKIT)
It’s hard to recognize that you need a drastic course correction. And it’s hard to pull one off once you’ve decided to go for it. We asked a CEO who had two successful pivots to share some advice with us.
Mambu valued at $ 5.3 billion in investment led by private equity firm EQT (WALL STREET JOURNAL)
The banking software company is looking to capitalize on the growing business and consumer preference for digital banking.
Monzo Confirms $ 4.5 Billion Valuation After New $ 500 Million Funding Round Closes (SIFTED)
The fundraising offers a vote of confidence to the neobank, which has had an eventful 2020.
Metrics that show that your startup is healthy (BETAKIT)
Mike Kwatinetz from Azure Capital Partners shares his approach to valuing companies and how to paint a picture that shows how good your startup is.
Pleo Acquires $ 200 Million at $ 4.7 Billion Valuation to Build Next Generation Enterprise Spend Management (TECHCRUNCH)
Danish startup Pleo, a developer of expense management tools for SMEs to enable them to issue corporate cards and better manage how employees spend money, has secured a significant tranche of funding to help it double its activity in times of strong growth.
Payment Rails Changes Names to Trolley, Closes $ 7 Million Series A to Expand Reach of Global Payments Platform (BETAKIT)
The funding round and name change comes as demand for Trolley’s platform has “skyrocketed” since early 2020, after the shift to remote working led many companies to become more willing to work with contractors and suppliers around the world.
Best CEO “on leave immediately”: e-mail (VICE)
The company also hired an outside company to “do a leadership and culture assessment.”
Tech panel believes Canadian startups are ready to go from defense to offensive in 2022 (BETAKIT)
At a recent roundtable on BetaKit Live, Shaun Ricci, Managing Director, Talent Intelligence at Ceridian Dayforce, Lissa Ricci, Sales Manager, Small Business Solutions at Cisco Canada, and Andrew Popliger, Partner, National Technology Leader at PwC, spoke about evolving Canadian tech news and explained why talent is the top priority right now.
Nubank, backed by Buffett, becomes Latin America’s most valuable listed bank (REUTERS)
Founded just eight years ago to offer consumers a no-fee credit card, Nubank has grown to become Latin America’s highest-rated listed bank, with $ 41.5 billion, ahead of Brazil’s Itau Unibanco Holding SA.