Category Archives: Equity Crowdfunding, Alternative Funding

Attracting Investors for Your Business

Start It Up | iamibrahim | Feb 11, 2021

investor meetingSome businesses are not a great fit for angel or venture capital funding

What if your startup is a good candidate for investment, but you’re having trouble getting meetings and convincing investors that your company is the next big thing?

Here are 11 tips I learned from a millionaire entrepreneur who gave a talk as part of the Young Entrepreneur Council’s webinar series. These tips will help you to attract the eye of an angel investor or a VC, and make your business a more appealing investment.

  1. Try the “soft sell” via networking

Networking is usually the number one tip for new entrepreneurs for good reason — networking allows you to pitch your startup in a less formal, more organic fashion.

“If you’ve been building a great business, getting out and networking within the local startup and investing community can be a great way to meet investors,” recommends Diana Goodwin of AquaMobile Swim School. “Most of my meetings with investors developed by being out at an event and mentioning my business.”

See:  #FFCON21 Brings Canada’s Tech Hub to the Web for 3 Days of Fintech Insights, Business Building May 11-13

While there is something of an art to the organic soft-sell, when done right it can make investors more likely to consider your business. After all, you’re not just pitching your idea — you’re also strategically relying on the social capital built through the networking process to influence their investment decision.

2. Show results first

It can be a difficult cycle to break: You need money to get customers, but you need customers to get money.

A catch-22 this may be, but it’s worth making an effort to acquire customers or users before you approach an investor, rather than seeking funds first and customers second. “Make a plan to get your first customer that doesn’t depend on huge outside investment,” says John Rood of Next Step Test Preparation.

Why is this so important? “Particularly if you are a first-time entrepreneur, it will be much easier to get investments on good terms (particularly from non-institutional investors) if you have some traction first,” he explains.

Investors want proof that your idea is going to work, and nothing proves this better than having real, paying customers.

3. Pitch a return on investment

While investors may believe in your business, their investment is ultimately a means to an end — they need to make money on their investment. So, it’s important to highlight what they will personally gain from investing in your business.

See:  The Success of Canada’s Recovery: Are Investors Ready to Spend?

“Whether you’re pitching an angel, VC, or your rich uncle, it’s imperative to show how you’re going to get them a return,” explains Nick Braun of PetInsuranceQuotes.com.

“It’s tempting to focus on yourself and your business model, but ultimately, investors want to know what’s in it for them. The best way to stand out and get interest is to clearly illustrate how and when you will get them a return.”

4. Take advantage of the online fundraising market

“With the popularity of fundraising platforms like AngelList, Gust, and CircleUp, you are no longer restricted to only being able to raise money if you’re in Silicon Valley,” says Fan Bi of Blank Label. “If your business has best-in-class metrics for your industry, you will be able to raise money.”

His advice? “Post your business to one of these sites highlighting your best metrics, and find investors on the platform covering your industry.”

5. Avoid following the crowd

To attract the attention of an investor, make sure your product solves a real problem. Too many entrepreneurs simply try to reinvent the wheel, so avoid being one of them.

See:  Startup advice is confusing. Here’s how to make sense of 6 common contradictions

“As Jeff Hammerbacher, Founder and Chief Scientist of Cloudera, put it, ‘The best minds of my generation are thinking about how to make people click ads. That sucks.’” says Aidan Cunniffe of Dropsource. “I’ve found more investors than I expected who were tired of funding ‘me-too’ apps and incremental advances.”

“Build something first, whatever business you’re in,” adds Jay Johnson of Small Lot Wine. “Do it as scrappy as you can, and get users and revenue. There are many ways to do this thinking outside the box.”

“As the old proverb goes: Fortune favors the bold,” Aidan says, and advises other entrepreneurs to try to “do something wonderful.”

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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter

 

#FFCON21 Brings Canada’s Tech Hub to the Web for 3 Days of Fintech Insights, Business Building

Investor Wire | Jonathan Keim | April 10, 2021

FFCON21 Image 3FFCON21: Breaking Barriers May 11-13

  • The 2021 Fintech & Financing Conference and Expo (#FFCON21) is scheduled May 11-13
  • Global virtual conference streamed from Toronto, the hub of Canada’s developing fintech ecosystem, but presented online due to pandemic concerns
  • 50-plus speakers with expert insights planned
  • Networking opportunities to connect one-to-one with peers and experts
  • Draft pitching competition to gain attention for business brand (as well as prizes)

The 7th Fintech & Financing Conference and Expo will be held for global participants virtually from May 11-13, 2021.  Originating in Toronto, FFCON21 has grown from a basic collaboration between entrepreneurs and big businesses intent on driving change into a thriving gathering of fintech, blockchain, crypto, digital banking, AI, payments, wealthtech, regtech, alternative finance stakeholders and global participants with a love for Canada’s fintech ecosystem.

In its seventh year, the 2021 gathering (#FFCON21) has been adapted to the health security needs of attendees during the present global pandemic, offering exclusive online access to a three-day collection of educational courses, networking opportunities, pitch competitions, e-booth demos and an auction for charity. 

The conference will take place May 11 to 13, still celebrating its place within Canada’s rising fintech and financial sector even as it extends its reach to a global audience through a virtual platform. Tickets, including early bird rates at present and a special startups-only package, are available at https://ibn.fm/3Ov1h.

Conference organizers anticipate bringing attendees to the table with some 50 speakers ranging from Main Street executives such as the president and CEO of public-private partnership Toronto Finance International to enterprising up-and-comers such as the founder-partner of startup builder Borderless Ventures and its CryptoAssets Institute.

See:  Showcase your products/services: Secure a DEMO Speaker spot at FFCON21: May 11-1

The second annual draft pitching and demo competition follows a sports league model geared toward identifying and featuring emerging and high growth fintech startups and scaleups. The “Breaking Barriers” theme of the conference is particularly appropriate here as draft participants compete for exposure and prizes, including promotion to investors, media, prospective buyers and partners.

The online access format driven by the pandemic proved advantageous last year following a scheduling delay necessary to reimagine the presentation of the spring conference. The digital venue and interactive platform allows for increased participation on a global scale because of the elimination of travel expenses from the plan. Networking and file sharing are able to occur naturally and easily using integrated online text and video chat features.

Additionally, the online platform makes it simple to access all digital content to catch up on anything attendees may have missed at a time when it is more convenient. Networking and e-booth displays present attendees with the potential to make connections with a future business mentor, investor or a prospective employee to help build their companies.

And at the heart of it all is the class schedule with insights from thought leaders on the direction of fintech solutions and emerging fintech trends. Presentations will explore topics that address the latest innovations, emerging industry regulation and the impact of government activity on financial technology markets.

For more information, visit the conference’s web portal at https://fintechandfunding.com.

 


The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights

NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter

 

Republic Announces $36M Series A to Democratize Access to Investing for Everyone

Republic | Business Wire | March 17, 2021

republic investing in startups

NEW YORK--(BUSINESS WIRE)--Republic, a leading investment platform, announced today it has completed the initial closing of its $36M Series A fundraising. The round was led by Galaxy Interactive with participation by Tribe Capital, Motley Fool Ventures, and Broadhaven Ventures. In addition, Prosus Ventures (formerly Naspers Ventures) made a strategic investment in Republic through a purchase of Republic Notes, a novel digital security. Founded in 2016, Republic and its subsidiaries have raised more than $70 million to fund their ventures.

Republic was founded on the principle that sought-after investment opportunities should not be limited to small, closed networks of investors, and that people should be able to invest in the future they believe in. On the Republic platform, anyone can invest across startups, real estate, crypto, gaming, and small businesses. Republic has over 1 million members, who to date have invested more than $300 million in offerings under Regulation Crowdfunding (Reg CF), Reg A and Reg D. Republic provides curated deals for investors of all experience levels and interests, while empowering founders with access to a diverse and engaged investor base.

See:  Early-stage Investing – The Public gets a Seat at the Table

Republic is a leader in facilitating crowdfunding campaigns for startups and SMBs raising under Reg CF, which allows non-accredited investors to participate in private funding rounds. Earlier this week, the SEC raised the cap for how much can be raised through Reg CF from $1.07 million to $5 million per annual period, enabling founders to raise up to 5x more capital through crowdfunding, while unlocking unprecedented access to deal flow for Republic’s investor community. Republic quickly became the first investment platform to facilitate a $5m Reg CF offering under the new rules. In addition to serving retail investors, Republic recently launched Republic Deal Room, offering investment opportunities for institutional and accredited investors.

One of the first mainstream fintech firms to embrace cryptocurrencies, Republic created the Republic Note, a profit-sharing digital security meant to align the incentives of the community with activity on the Republic platform. Prosus Ventures —the venture arm of Prosus, one of the world’s largest technology investors— is backing the Republic Note, which represents Prosus Ventures’ first-ever crypto digital asset investment.

“Prosus Ventures has a strong history of being an early investor in businesses that target big societal challenges, and Republic has created a platform that has the potential to break down the systemic barriers that exist in the funding process,” said Banafsheh Fathieh, Head of Americas Investments at Prosus Ventures. “Republic’s continued growth will enable more entrepreneurs from underrepresented groups to raise funds beyond the usual gatekeepers, and investors will be able to help businesses they are passionate about when they need it most.”

“We are at the early stages of a multi-decade super-cycle of retail empowerment. Republic is at the forefront of this trend, and there is no team that better understands the intricate web of consumer tech, finance, and regulation needed to bring real innovation to the private investment space. We are thrilled to partner with Ken and team, and look forward to the amazing opportunities they will enable in the years to come,” added Richard Kim, partner at Galaxy Interactive, Republic’s lead investor.

See:  Retail investors are becoming more than shareholders

Kristine Harjes, Investment Officer at Motley Fool Ventures, also offered her perspective on the investment, “The Motley Fool has long championed the individual investor, and we feel deeply aligned with Republic’s mission to increase access to once-exclusive private investment opportunities. Motley Fool Ventures is thrilled to support Republic’s efforts to revolutionize the alternative investment landscape through its best-in-class technology and community.”

Republic has recently expanded its reach into new markets through strategic acquisitions, including Fig, a leading video game publisher backed by Spark Capital and Greycroft, Compound, a real estate investment platform backed by NEA, and NextSeed, a crowdfunding platform for local businesses. Earlier this month, Republic announced that it is expanding its crypto offerings and will be hosting digital asset sales on the platform, allowing blockchain projects to sell native digital assets to both U.S. and non-U.S. participants.

Republic CEO Kendrick Nguyen has played a key role in creating more equitable funding and investment opportunities for founders and retail investors alike.

“We have entered a new era of investing, one in which all stakeholders of a business can become shareholders. The support of marquee institutional investors in Republic’s funding round is indicative of the vast potential of our mission: to enable investors everywhere to align their passion with profit,” states Nguyen, who penned a personal letter for the Republic blog about what the future holds for Republic. With this new round of investment, Republic will continue to work towards its mission of democratizing access to investing and giving people the power to invest in the future they believe in.

About Republic

Republic is a leading investment platform that provides access to startup, real estate, crypto, and gaming investments for both retail and accredited investors. Republic has facilitated over $300 million in investments by our global community of over one million members. For more information, visit www.republic.co.

 


The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter

 

European Banking Authority Adressing Crowdfunding and Money Laundering, Terrorist Financing Risk

Crowdfund Insider |

Euopean Bank Authority

The European Banking Authority has published a document that addresses anti-money laundering (AML) and counter-terrorist financing (CFT) when it comes to crowdfunding. The guidelines for crowdfunding platforms are incorporated into the Final Report “on customer due diligence and the factors credit and financial institutions should consider when assessing the money laundering and terrorist financing risk associated with individual business relationships and occasional transactions.” The report was part of a consultation regarding KYC requirements.

The first section of the report is described as generic and applying to all firms. The second section, Title II, is sector-specific and designed to “complement” the first section. Specifically:

“[Title II] sets out risk factors that are of particular importance in certain of those sectors and provides guidance on the risk-sensitive application of Customer Due Diligence measures by firms in those sectors. So as to foster greater convergence of supervisory expectations of the measures firms should take to tackle emerging risks, additional sectoral guidelines have been added to the original Risk Factors Guidelines on crowdfunding platforms, providers of currency exchange services, corporate finance, and payment initiation services providers (PISPs) and account information service providers (AISPs). Therefore, in total Title II now contains thirteen sectoral guidelines about very different key financial sectors such as for instance correspondents banking, retail banking, electronic money, money remittance, life insurance and investments firms.” [emphasis added]

The EBA posits that crowdfunding service providers (CSPs) should recognize the risk of the borderless nature of their transactions as customers may be located anywhere in the world, including high-risk locations. The EBA states that CSPs should know their customers as to not be utilized for illicit activities as funds could be used to finance a terrorist attack.

See:  European Union Approves New Crowdfunding Rules that Apply to Member States, Funding Cap Set at €5 Million

The advent of pan-European crowdfunding rules, where an issuer may raise up to €5 million across all EU member states, may have compelled the EBA to address online capital formation in regards to securities crowdfunding.

Continue to the full article --> here

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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter

 

NCFA Announces 7th Annual FFCON21 Digital ‘Breaking Barriers’ FinTech Conference

NCFA Canada | FFCON21 Team | March 11, 2021

FFCON21_vert_2_col_med

FFCON21 to connect HR talent and explore accelerated Fintech trends and innovations paving the way to mass adoption and scale

TORONTO — March 11, 2021 — The National Crowdfunding & Fintech Association (NCFA), organisers of Canada’ foremost Fintech conference, is pleased to announce the return of FFCON for its 7th consecutive year. The annual FFCON Digital Event, held in association with Toronto Finance International (TFI), will take place May 11-13, 2021.

Building on the success of previous conferences, this year’s event -- titled ‘Breaking Barriers’ -- will bring together an international community of leading voices in fintech, digital banking, tokenization, blockchain, CBDCs, digital identity, AI, capital markets innovation, EDI (equality, diversity and inclusion) and sustainable, open, and alternative finance.

“Fintech is evolving quickly and breaking barriers,” said Craig Asano, Founder and CEO of the National Crowdfunding & Fintech Association of Canada. “Fintech is no longer niche -- it is a permanent technological evolution that is changing the world of finance by high growth fintech companies and incumbent financial institutions. It’s rewiring financial services for the new economy and setting new standards that also demand new regulations. Most importantly, it’s about improving access and delivering better financial products, services and outcomes for everyone especially consumers and small to midsize enterprises (SMEs).”

The theme of FFCON21 reflects the growth and challenges that the Canadian Fintech industry has had to navigate through to foster scalability and mainstream adoption, made all the more complicated through the disruption caused by Covid-19.

“Our Fintech ecosystem has become a great strength in the greater Canadian innovation landscape. COVID-19 has accelerated the pace of change in the industry and highlighted the important role digital innovation plays in the competitiveness of the financial services sector. Rapidly changing consumer habits and ways of delivering products and services offers a significant opportunity for Canadian Fintechs" Jennifer Reynolds, President & CEO, Toronto Finance International

Beyond covering important fintech topics, FFCON21 will offer an engaging and fast-paced interactive agenda, including investor speed dating, sports-inspired Fintech Draft pitching and demo competitions designed to identity and feature emerging fintech stars, debates, round table discussions, digital ebooths and virtual expo, 1-on-1 networking opportunities and unique experiences.  Delegates and partners can build their knowledge base, launch or scale an idea or collaborate digitally with visionary entrepreneurs and investors.

New to FFON21 this year, organizers are adding an HR fintech talent marketplace to connect anyone seeking new opportunities with high growth companies, and a ‘deep dive’ masterclass series on the topic of decentralized finance as part of its quarterly Global Fintech Now program for VIP passholders.

The multi-day event will run from May 11-13 inclusive with daily content to span feature themes of Digital Innovation and Breaking Barriers, Creation & Growth and Global Future Forward. Updates to the evolving programme and speaker lineup can be found on the FFCON21 website.

Registration Now Open

Registration for FFCON21 Breaking Barriers is now open with special early bird rates for delegates, exhibitors and startup packages available for a limited time. Tickets can be purchased at https://fintechandfunding.com/tickets/.

Useful Links

Speaker Application

Fintech Draft Pitching & Demo Application

Website | Experience | Partner Packages

Registration | Media Pass

 

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About the NCFA

The National Crowdfunding & Fintech Association (NCFA) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain and cryptocurrency, Regtech, and Insurtech sectors. To learn more about NCFA visit www.ncfacanada.org

 

About Toronto Finance International

Toronto Finance International (TFI) is a public-private partnership between Canada’s three levels of government, the financial services sector and academia. TFI’s mission is to lead collective action that drives the competitiveness and growth of Toronto’s financial sector and establishes its prominence as a leading international financial centre. For more information, please visit: www.tfi.ca

 

About FFCON

FFCON21 (Fintech and Financing Conference) is an annual conference hosted by Canada’s National Crowdfunding and Fintech Association (NCFA). Now in its seventh year, FFCON21, held in association with Toronto Finance International, will bring together professionals and innovators in fintech, open banking, digital identity, blockchain, cryptocurrency, AI, capital markets innovation, sustainable and alternative finance.

Further information about the conference can be found at www.fintechandfunding.com

FFCON21 Contacts

Craig Asano
Founder and CEO, NCFA
casano@ncfacanada.org
(416) 618-0254

Partnership Inquiries
Lauren Linton
Advisor, NCFA
lauren@ncfacanada.org
(416) 569-4349

Media Contact
The Top Floor Public Relations
Michele McDermott-Fox
michele@thetopflooragency.com
(905) 379-1893

David Lewis
david@thetopflooragency.com
(905) 541-5699

5 Challenges Facing all Start-Ups

Guest Post | March 5, 2021

Startup challenges

Starting a new business isn’t easy at all. The world is littered with start-ups that failed in their first year, and you don’t want to become one of them. However, if it wasn’t challenging, then everyone would be doing it, and it’s all part of the experience of creating a start-up. While every business journey is different, here are some of the challenges most start-ups face.

Financing

Setting up a successful business doesn’t come cheap. To see your idea through, you may need millions of dollars of investment, and finding it isn’t always easy. This area has been opened up a lot in recent years with changes to initiatives like equity crowdfunding, but it’s still one of the biggest hurdles start-ups face. Getting that initial money in can set the ball rolling for your business, but you’ll have to work hard to secure it.

Expectations

Sometimes it’s your own expectations that can hold you back the most. The word start-up is very loaded. We tend to think of exponential growth, exciting markets, and fast money when we hear the word start-ups, but for many businesses, this is far from the truth. Business success takes time to achieve, even if you’re one of the lucky ones.

The majority of start-ups fail in their first few years, so you have to be realistic with your expectations. This will allow you to make better decisions for your business.

Brand Recognition

How do you create a buzz around a brand-new business? Many start-ups are entering into markets where there’s fierce competition, and they’re up against established names. In these cases, it can be extremely difficult to get your brand recognized.

See:  Governments, Don’t Let your Startups and Scaleups Die

This is where innovative marketing comes in and can make all the difference. Branding can be something that sets you apart, but if you’ve not got it right, it can mean you never stand out from the crowd.

A Changing World

The world changes quickly, and if your business can’t adapt, then it will struggle to get off the ground. For example, in the early 2000s, business travel was huge. If deals needed to be made on the other side of the world, then you just flew over there. However, changing global opinions and technological advances have meant that travel budgets are much tighter.

If you’re not using innovative services such as Amex Global Business Travel, then you might not be making the most of the opportunities a changing world offers.

Making the Right Hires

Your employees are one of the most important parts of your start-up, and it’s important you find people who are going to fit with your culture. It’s easy just to look at job-specific skills when hiring, but you really want somebody who’s going to grow with your business and embody your values. Those first employees will leave a big impression on your business for many years to come, so it’s worth putting the extra effort into your hiring decisions.

 


The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter

 

Fintech start-up Hardbacon secures $1.1 million thanks to equity crowdfunding

Wealth Professional  | James Burton | March 2, 2021

Hardbacon equity crowdfunding success

Finance app Hardbacon receives boost to growth plan as it prepares to go public

A Montreal-based fintech company has secured more than $1.1 million through the Frontfundr equity crowdfunding portal as it positions itself to go public.

See:  Fintech Fridays EP51: Bacon and Eggs

Hardbacon brought in $1,136,400 from more than 800 investors, smashing its $500,000 fundraising goal. The company, which markets a personal finance app, has thus completed one of the largest rounds of equity crowdfunding in Canada, with this laterst round bringing its total financing to more than $2.2 million since its inception.

A B2C app for self-directed investors, it generates revenue from Hardbacon Premium subscriptions as well as from lead generation and sales of its two white label solutions for financial institutions: a portfolio analysis module and a financial planning module. Its partners include National Bank Direct Brokerage and Desjardins Online Brokerage, and it also has an advisor feature.

The funding will be used to accelerate the fintech’s growth and fuel its ambition to reach the summit of the lead generation market in the financial services industry.

CEO Julien Brault told WP: “Raising a round of over $1 million with a goal of $500,000 is a huge vote of confidence from our user base and the Canadian public. It put us in a very good position to execute our growth plan as well as go public.  This round, which is among the largest fundraising round in FrontFundr's history, proves once more that equity crowdfunding is a valid financing option for tech companies in Canada. I’m pretty excited about closing such an historic round and it will give us the fuel we need to hire the right people to execute on our growth plan.”

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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter