CPI Card Group Inc (Nasdaq, TSX: PMTS) has agreed to sell its Canadian affiliate to Allcard Ltd, a Cambridge, Ontario-based provider of non-secure card solutions to the gift and loyalty sectors. No financial terms were released for the deal, which is expected to close in early 2019. Littleton, Colorado-based CPI, a provider of payment card production and related services, said the sale is consistent with its plan to focus on core businesses, including card manufacturing, personalization, instant issuance and prepaid. CPI, which went public in 2015, is a portfolio investment of Canadian private equity firm Parallel49 Equity. Parallel49’s predecessor, Tricor Pacific Capital, acquired the company in 2007.
4 min read · 16 November 2018
Kaloom, a Montréal-based data centre networking software company, has secured $10 million in a Series A1 financing, bringing its total funding to $20.7 million. Fonds de solidarité FTQ and Somel Investments led the round and were joined by MBUZZ Investments. All three investors backed the company's Series A financing in 2017. Kaloom was founded in 2014 by CEO Laurent Marchand to develop an automated, programmable and scalable data centre networking fabric that addresses how data centres are built and managed. The funds raised will support the development and sales of Kaloom’s industrialized software solution for open networking white boxes and to hire additional team members.
4 min read · 16 November 2018
Canadian mid-market private equity firm Roynat Equity Partners has sold its stake in St-Méthode Bakery (BSM), an Adstock, Québec-based producer and distributor of organic and artisinal breads. No financial terms were released. The buyer was the Faucher family, led by BSM President Benoît Faucher, which in 2014 sold a minority interest in the company to Roynat. During its period of investment, Roynat supported BSM's growth strategy, risk management and succession planning, Director Catherine Parent said. Established in 1947, BSM distributes four healthy food product lines across Québec.
3 min read · 15 November 2018
Ario, an Ottawa-based digital banking platform built for enterprises, has secured a $10 million investment. The source of the financing was Purpose Financial LP, a Canadian financial services firm led by CEO Som Seif and backed by OMERS Platform Investments. Founded last year and led by CEO Avinash Chidambaram, Ario helps enterprise partners provide their customers with automated, contextual and real-time financial solutions managed through machine learning systems. The investment's proceeds will allow the company to further develop and launch its solutions.
3 min read · 15 November 2018
Version One Ventures is growing its franchise. The Vancouver firm, founded in 2012 by renowned seed investor Boris Wertz, made the decision to expand when raising its third fund. One result was the September promotion of Angela Tran Kingyens to general partner. A further step will soon be taken with the hire of an associate. In an interview with PE Hub Canada , Wertz said the increased resources will help deploy Version One Ventures III, which raised about $57 million last month. He also told us more about Version One's growing franchise, Fund III, recent deals and the firm’s evolving strategy.
4 min read · 15 November 2018
Drop Technologies has acquired Canopy Labs, a Toronto-based customer-focused predictive analytics software provider. No financial terms were disclosed. Derrick Fung, CEO of Drop, a Toronto-based mobile rewards program, said the acquisition of Canopy Labs' machine learning technology will help his company build "a best-in-class product for both consumers and our merchant partners." Earlier this year, Drop raised a US$21 million Series A financing led by New Enterprise Associates. Founded in 2012 by CEO Wojciech Gryc and CTO Jorge Escobedo, Canopy Labs secured financing from BDC Capital, Valar Ventures and other investors.
4 min read · 15 November 2018
Logojoy, a Toronto-based artificial intelligence-enabled design platform, has secured $6 million in a Series A financing. The round was led by Canadian early-stage venture capital firm Real Ventures. It was joined by Flybridge Capital. Logojoy closed a $900,000 seed round in 2017 backed by angel investors. Led by CEO Dawson Whitfield, who helped launch the company in 2016, Logojoy's online logo maker provides businesses with a quick and affordable way to create professional-quality branding assets. To date, it has sold more than 100,000 logos to customers in 188 countries. Logojoy plans to use the funds raised to expand its team of data scientists and developers.
3 min read · 15 November 2018
Toronto-based enterprise wealth management platform d1g1t has closed a Series A financing, bringing its total funding to more than $9 million. The Series A and a prior round were both led by Canadian financial services firm Purpose Financial LP, headed by CEO Som Seif and backed by OMERS Platform Investments. The company's other investors include Extreme Venture Partners and Portag3 Ventures. Founded last year by CEO Dan Rosen, COO Philippe Rouanet and CPO Benoit Fleury, d1g1t uses analytics and risk management tools to provide portfolio management services to advisors and their clients. The funds raised will support the continued build out of d1g1t's platform.
4 min read · 15 November 2018
U.S. consumer private equity firm Swander Pace Capital has acquired Bäckerhaus Veit Ltd, a Mississauga, Ontario-based artisan bakery. No financial terms were disclosed. Established in 1987 by CEO Sabine Veit, Bäckerhaus Veit produces artisan, European-style breads, rolls, buns and soft pretzel products for retail and food service customers across North America. Veit, who will continue as a board member, said the partnership with Swander Pace will help the company build partnerships, increase brand awareness, and expand distribution. The deal follows Swander Pace's acquisition earlier this year of Fine Choice Foods, a Richmond, British Columbia-based maker of Asian-flavoured appetizers.
4 min read · 15 November 2018
You.i TV, an Ottawa-based software provider focused on cross-platform app development, has raised $30.4 million (US$23 million) in growth financing. U.S. venture capital firm Causeway Media Partners led the deal. Existing backers WarnerMedia, Kayne Anderson Capital Advisors and Vistara Capital Partners also invested. Causeway Partner Bob Higgins has joined the board. You.i TV, founded in 2008 by CEO Jason Flick and CTO Stuart Russell, provides TV and media companies with a multi-screen video app platform that helps engage users and create customers. The funds raised will support expansion of You.i TV’s global footprint and developer community.
4 min read · 15 November 2018
