Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Lastwall Raises $16M For Cyber Resilience Infrastructure
June 1, 2026 | NCFA Fintech Market Activity | Risk Compliance And Regtech, Artificial Intelligence And Data
Canadian Identity Security Scaleup Targets Critical Infrastructure
On May 27, 2026, Fredericton based cybersecurity scaleup Lastwall raised $16 million in a round led by BDC Capital’s StrongNorth Fund, See Isabelle Hudon, President and CEO BDC's LinkedIn announcement. The round also included the New Brunswick Innovation Foundation, Frostbite Capital, Blue Bear Capital, BlueWing Ventures, and 18West.
It's a Canadian cybersecurity story, not a military procurement story. Lastwall works in defence, government, and critical infrastructure environments, but the announcement is about growth capital for identity first security, zero trust access, and quantum resilient protection. For NBIF, it's the largest single investment in its history through the round.
Karl Holmqvist, Founder and CEO, Lastwall:
“We proved our model in the world’s most demanding federal market. We earned FedRAMP Moderate Authorization, secured U.S. government systems, and built a platform for the realities of modern cyber warfare. Now, we’re bringing those trusted capabilities home to help strengthen Canada’s cyber resilience at a defining moment for national security.”
Identity Security Is Critical Infrastructure
Lastwall secures access across cloud, hybrid, disconnected, and low bandwidth environments. It's important for energy, telecom, transportation, defence, government, and public sector systems where a failed login layer can become an operational risk.
The product focus is identity, authentication, credential protection, privileged access, and zero trust controls. Lastwall also says quantum resilient protection is built into the platform, which is key for systems that need to stay secure beyond the current threat cycle.
See: Google Brings Quantum Crypto Migration Closer
For fintechs and financial institutions, digital identity and access control are now resilience infrastructure. Fraud, account takeover, insider risk, cloud access, vendor access, and critical system protection all depend on knowing who is connecting, from where, and under what conditions.
Peter Dawe, BDC’s Vice President of Defence Strategy and a recently retired Major General, joined Lastwall’s board as part of the financing. That gives the company closer defence and sovereign capability expertise as Canada looks for more domestic cyber capacity.
Canada’s cyber resilience gap isn't only about monitoring threats. It's also about securing access to the systems that run public services, financial infrastructure, energy, communications, and national security. Canada’s new cyber law and PSP oversight are already raising the bar for security, resilience, and vendor accountability. Lastwall’s funding shows Canadian capital is starting to treat identity security as a sovereign capability, not just another software category.
Talking Point
Can Canadian cybersecurity firms turn U.S. federal proof into domestic critical infrastructure adoption before cyber resilience becomes a procurement emergency?
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