Canadian financial services firm Purpose Financial has acquired CreditGenie Inc, a Toronto-based digital alternative payment solution. Terms weren't disclosed. Founded in 2016 by Alex Kaplunov and Daniel Shain, CreditGenie helps small and medium-sized businesses in the retail, healthcare and education sectors to extend financing to their customers for large purchases. It partners with nearly 500 merchants across Canada. Purpose CEO Som Seif said CreditGenie's point-of-sale solution "represents a natural extension of our Banking Solutions platform." Purpose is a portfolio company of OMERS Growth Equity, the recently launched growth equity arm of OMERS. The Canadian pension fund acquired a minority stake in 2017.
3 min read · 27 May 2019
Forcen, a Toronto-based developer of force-sensing technology, has secured $500,000 in initial seed-stage financing. The round was led by Canadian technology investor NorthSpring Capital Partners and joined by angel investors from Golden Triangle Angel Network and Angel One. Forcen, formerly SensOR Medical Laboratories, develops force-sensing film for medical devices, surgical robotics, industrial robotics, and the aerospace and defense industries. Founded in 2015 by CEO Robert Brooks, Forcen will use the round's proceeds for more equipment, new hires, meeting demand and to prepare its technology for large-scale production.
3 min read · 27 May 2019
ApplyBoard, a Kitchener, Ontario-based international student recruitment platform, has raised $55 million in a Series B financing. The round was led by U.S. growth equity firm Anthos Capital. It was joined by existing investors, including Artiman Ventures, which led last year's $17 million Series A financing. Founded in 2015 by CEO Martin Basiri and CMO Meti Basiri, ApplyBoard provides an artificial intelligence-enabled platform that helps international students apply to study at North American educational institutions. To date, it has assisted more than 45,000 students with their applications. ApplyBoard will use the funds raised to further develop its technology, enter new markets, and hire additional talent.
3 min read · 27 May 2019
ApplyBoard, a Kitchener, Ontario-based international student recruitment platform, has raised $55 million in a Series B financing. The round was led by U.S. growth equity firm Anthos Capital. It was joined by existing investors, including Artiman Ventures, which led last year's $17 million Series A financing. Founded in 2015 by CEO Martin Basiri and CMO Meti Basiri, ApplyBoard provides an artificial intelligence-enabled platform that helps international students apply to study at North American educational institutions. To date, it has assisted more than 45,000 students with their applications. ApplyBoard will use the funds raised to further develop its technology, enter new markets, and hire additional talent.
3 min read · 27 May 2019
OSF Commerce has acquired Blueleaf, a Cheshire, United Kingdom-based digital commerce agency, for an undisclosed amount. Founded in 1999, Blueleaf provides retailers with user experience design and support for projects built on Salesforce Commerce Cloud. OSF Commerce, a Québec City-based retail consultant and commerce technology integrator, said the deal gives it an established U.K. delivery centre that will facilitate the company's growth in the market. The acquisition follows this month's $31 million (US$23 million) financing of OSF Commerce. The round was led by Delta-v Capital and joined by Salesforce Ventures.
4 min read · 24 May 2019
OSF Commerce has acquired Blueleaf, a Cheshire, United Kingdom-based digital commerce agency, for an undisclosed amount. Founded in 1999, Blueleaf provides retailers with user experience design and support for projects built on Salesforce Commerce Cloud. OSF Commerce, a Québec City-based retail consultant and commerce technology integrator, said the deal gives it an established U.K. delivery centre that will facilitate the company's growth in the market. The acquisition follows this month's $31 million (US$23 million) financing of OSF Commerce. The round was led by Delta-v Capital and joined by Salesforce Ventures.
4 min read · 24 May 2019
Canadian Solar Inc (Nasdaq: CSIQ) has sold its Aguascalientes solar power project in Mexico to a fund managed by BlackRock Infrastructure. No financial terms were disclosed. Canadian Solar developed, arranged construction and financing, built and energized the 68 megawatt-peak project in January. It is expected to generate 145 gigawatt hours of electricity annually. The Guelph, Ontario-based solar power company said it has a remaining Mexican pipeline of more than 600 megawatt-peak solar projects at various stages of development.
3 min read · 23 May 2019
3 min read · 23 May 2019
Canadian private equity firm Lynx Equity has acquired Sundby Trapper A/S, a Danish manufacturer of specialized steel staircases and related products. No financial terms were disclosed. The sellers were CEO Soren Iversen and Chief Mounting Officer Carsten Nielsen, who will continue in their current positions for the foreseeable future. Founded in 1964, Sundby Trapper provides its products and services to residential, commercial and institutional customers in Denmark. Two years ago, Lynx acquired PartnerService Hver Gang ApS, a Danish facility maintenance provider.
3 min read · 23 May 2019
Canadian junior capital provider Penfund has partnered as a follow-on investor in a US$225 million second lien credit facility for Mister Car Wash (MCW), a Tucson, Arizona-based car wash operator. The facility's proceeds, along with the proceeds of a US$800 million first lien term loan, have been used to refinance MCW’s existing debt and pay a distribution to shareholders. Senior lenders also provided a US$75 million revolving credit facility and US$40 million delayed draw term loan. MCW was acquired in 2014 by U.S. private equity firm Leonard Green & Partners. In December, Penfund closed its sixth mid-market fund, Penfund Capital Fund VI, raising $1.15 billion.
3 min read · 23 May 2019
