Canadian Fintech: RBC Backs a Client ☝️

Good morning! Welcome back to the Canadian Fintech Newsletter, an industry roundup for founders, operators and investors.

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💰 Funding

• Quandri, a Vancouver based platform to automate personal insurance policy renewals for brokerages raised USD $12m from Framework, Intact and FUSE.

• Trusty, a Toronto based estate planning app for families to track and pass down valuable items (jewellery, art, etc.) raised $1m from Relay, Graphite and Mistral.

• D1g1t, a Toronto based risk management platform for wealth advisors received a strategic investment from their client RBC.

• Ready Plan Go, a Montreal based accounting automation platform won $175k in grants at Startupfest.

🤝 M&A

• AutoCanada is selling its US dealerships for $83m to focus on the Canadian market.

🚀 Product

• Sellit9, a platform for shoppers to trade-in their old products in exchange for cash, crossed $1m in annualized GMV.

  • Sellit9 raised $1.5m last year.

• Home.ca, a platform for Canadians to purchase, finance, maintain and upgrade their homes launched.

  • The founder previously launched WebsiteBox, a drag and drop website / CRM builder for realtors, which was acquired by Questrade in 2021.

• Lotly, a shared equity down payment funder for Canadian homebuyers crossed $2m ARR.

  • Shared equity funders like Lotly and Ourboro let home buyers put down as little as 5% in exchange for a share of the home’s future appreciation upon a sale.

• Village Wellth launched a deal management platform to help small business owners model, finance, and close deals to sell their businesses.

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Have a great week! See ya 👋

-Tal Schwartz