Canada

Flexiti secures $80 mln mezzanine facility from Credit Suisse

Toronto-based point-of-sale consumer financing company Flexiti Financial has secured an $80 million mezzanine debt facility from Credit Suisse Asset Management. The loan, which follows a $300 million senior lending facility provided by Credit Suisse earlier this year, will fund future originations and support the company's merchant partners. Flexiti, founded in 2013 by CEO Peter Kalen, raised $50 million from Globalive Capital in June. The investment, which gave Globalive a controlling stake, backed Flexiti’s buy of a $250 million private-label credit card portfolio from TD Financing Services.

SkyX raises $12.5 mln in Almond Tree-led Series B round

SkyX, a Toronto-based developer of autonomous vehicles for asset monitoring and data collection, has raised about $12.5 million (US$9.5 million) in a Series B financing. The round was backed Almond Tree-SkyX LP, led by Almond Tree Enterprise, a Canadian family office. It brings total funding so far to about $20 million. Founded in 2015 by CEO Didi Horn, SkyX's drones use a variety of sensors to gather customized, high-resolution data, enabling clients to monitor long-range assets, such as oil and gas pipelines. SkyX said it will use the funds raised to execute customer contracts and pursue a go-to-market strategy targeting utilities and energy companies.

Version One Ventures' Angela Tran Kingyens promoted to GP

Canadian early-stage venture capital firm Version One Ventures has promoted Angela Tran Kingyens to general partner. Kingyens joined Version One in 2013 as an analyst and was promoted last year to principal. She was formerly a partner at Insight Data Science, a Y Combinator-backed startup that helps PhD graduates transition from academic research to industry careers. The promotion of Kingyens, who operates from Version One’s Silicon Valley office, brings the firm's general partners to two. The other is Boris Wertz, who founded Version One in 2012.

Ericsson to acquire VC-backed software company CENX

Swedish telecommunications giant Ericsson (Nasdaq: ERIC) has agreed to acquire CENX, a provider of service assurance software solutions to mobile, wireline and enterprise network companies. No financial terms were disclosed. Founded in 2009 and based in Jersey City, New Jersey, CENX has its research and development facility in Ottawa. Ericsson has held a stake in CENX since 2012. The company's other investors include BDC Capital, Cross Creek Advisors, DCM Ventures, Highland Capital Partners, Mesirow Financial, Mistral Venture Partners and Verizon Ventures.

CIBC Innovation Banking puts $22.5 mln to work in TigerConnect

CIBC Innovation Banking has provided US$22.5 million of debt financing to TigerConnect, a Santa Monica, California-based clinical communication solutions platform. Founded in 2010, TigerConnect helps physicians, nurses and other staff in over 4,000 healthcare organizations communicate and collaborate more effectively, accelerating productivity, reducing costs, and improving patient outcomes. Its investors include Norwest Venture Partners, OrbiMed, Montreux Equity Partners and New Leaf Ventures. CIBC Innovation Banking launched in January with CIBC’s acquisition of the assets of Canadian specialty finance firm Wellington Financial.

Kira Systems closes $66 mln Series A with Insight Venture Partners

Kira Systems, a Toronto-based artificial intelligence-enabled contract analytics software vendor, has raised about $66 million (US$50 million) in a Series A financing. The round was backed by U.S. venture capital firm Insight Venture Partners. Insight Managing Director Peter Sobiloff will join the board. Founded in 2011 by CEO Noah Waisberg and CTO Alexander Hudek, Kira's platform leverages machine learning technology to automatically identify and extract information from contracts and related documents. Its clients include law firms, as well as other professional services firms and businesses. Kira will use the funds raised to further enhance its software and expand its global customer base.

Jewelry brand Mejuri raises $5 mln in Felix-led Series A round

Mejuri, a Toronto-based direct-to-consumer fine jewelry brand, has secured $5 million in a Series A financing, bringing its total funding to $6 million. The round was led by U.K. venture capital firm Felix Capital. Real Ventures, Incite Ventures, BDC Capital Women in Technology Fund and Dash Ventures also invested. Founded in 2015 by CEO Noura Sakkijha and COO Maj Masad, Mejuri supplies handcrafted, everyday jewelry without the traditional retail markups. The company said it will use the funds raised to fuel additional growth by engaging with customers digitally and through physical stores. It also plans to open a second location in New York City.

Eyesover racks up $450K in NBIF-led funding round

Fredericton, New Brunswick-based Eyesover, a data analytics company, has secured $450,000 in funding. The New Brunswick Innovation Foundation led the round with participation from the National Research Council of Canada’s Industrial Research Assistance Program.

San Francisco-based Upgrade secures $80 mln, plans to expand in Montreal

Upgrade, a San Francisco-based consumer credit platform, has raised $80 million in Series C financing. CreditEase Fintech Investment Fund led the round with participation from other investors that included Apoletto, FirstMark Capital, NOAH, Ribbit, Sands Capital Ventures, Silicon Valley Bank, Union Square Ventures and Vy Capital . The capital infusion will be used to expand Upgrade's technology presence in Montreal.

Goose Insurance launches with close of $2.25 mln

Goose Insurance Services, a Vancouver-based provider of quick sale travel insurance online, has recently launched its services in conjunction with $2.25 million in seed funding. The lead investor was Impression Ventures, a Canadian venture capital firm focused on fintech.