Toronto and Calgary lead the latest round of FinTech and AgTech funding announcements. Here’s the latest on who raised how much, from whom.
SecureKey raises $19 million Series C round
Toronto-based identity and authentication security provider SecureKey has announced $19 million in Series C funding, led by Blue Sky Capital, Rogers Venture Partners and other current investors. The company indicated that it will use the funding to bring its SecureKey Concierge service, currently utilized by the Canadian government, to key market sectors worldwide.
“SecureKey allows organizations to build or subscribe to an identity network that connects consumers to online services via a trusted third-party credential of their choice, where both privacy and security are paramount,” said Charles Walton, CEO of SecureKey. “The funding will help SecureKey accelerate its growth, as people, governments, and organizations worldwide embrace a future that removes the burden of passwords while giving consumers the convenience, choice, and control they deserve.”
The company also announced that it has named Didier Serra Executive Vice President, responsible for SecureKey’s consolidated sales and marketing teams.
FundThrough raises $2.2 million
Toronto-based online lending platform FundThrough announced that it has raised $2.2 million in funding. The funding round was led by Real Ventures, with participation from Origin Merchant Partners, Five Elements Ventures, and Barlow Lane Holdings, among others.
“We are thrilled to be investing in FundThrough,” said Janet Bannister, General Partner at Real Ventures. “Online marketplace lenders like FundThrough are using technology to change the way businesses borrow money. They are disrupting the financial services industry by putting more power in the hands of business owners. We look forward to working closely with the FundThrough team as they grow their company in Canada and internationally.”
Designed to make accessing capital simpler, FundThrough’s marketplace platform offers lines of credit for growing businesses in Canada.
AVAC launches Verdex Capital to co-manage $150 million AgTech Fund
Calgary-based AVAC Ltd. has the announced the creation of a new brand, Verdex Capital, which will focus on agricultural technology (AgTech) investments.
“Ag Tech is an area of significant growth, and is increasing in popularity with both strategic corporate and conventional investors. With a growing world population and increasing constraints on agricultural production capacity, global food supplies face significant threats,” said Dr. Michael Raymont, CEO of AVAC Ltd. “Applying innovation and technology to the agricultural sector is critical to address these challenges and creates a unique opportunity for investors. This is why we created Verdex Capital.”
Verdex’s first task will be to co-manage the recently closed Finistere Ventures FVII Fund. Verdex will oversee the Canadian arm of the $150 million fund, which will focus primarily on North American opportunities for AgTech investment.
“Canada has a proven track record of pioneering new technologies in crops and food,” Raymont said. “We have partnered with Finistere to generate excellent financial returns. We believe there are huge opportunities in Canada such as leveraging the major R&D investments being made in our universities and institutions, some of which will require connections to the talent and ecosystems in the U.S. to flourish. We can now make that happen.”
