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Dapper Labs, Nesto, Certn, top Deloitte’s 2023 Technology Fast 50 list (BETAKIT)
Deloitte has announced the 2023 winners of its Technology Fast 50, a list meant to highlight Canadian companies demonstrating rapid revenue growth. There was a considerable presence of FinTech companies on the Fast 50 this year, with Dapper Labs topping the list at a whopping 16,910 percent. Calgary-based Neo Financial took first place in the Companies-to-watch category with an 81,732 three-year growth rate.
Coatue Cuts Value of OpenSea Stake by 90% as Fund’s Returns Sag (THE INFORMATION)
One of OpenSea’s biggest investors has marked down by 90% its stake in the struggling non-fungible-token marketplace, implying that the former crypto darling is now valued at $1.4 billion or less on paper. Coatue Management, a New York–based hedge and venture fund, slashed the value of its $120 million stake in the company to $13 million as of the second quarter of this year, according to a document viewed by The Information.
Cavelo secures $5-million Inovia-led seed round to help financial services firms protect their data (BETAKIT)
Kitchener-Waterloo-based cybersecurity startup Cavelo has closed $5 million CAD in seed financing to fuel its United States (US) expansion plans as it looks to bring more financial services firms to its platform. Cavelo has built a platform that scans, identifies, classifies, and reports on data that companies might want to protect in the event of a breach, such as credit card and passport information.
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How to get hybrid work right for the long term
Did you know 89% of workers and decision-makers are onside for hybrid work? As more knowledge workers and even customer-facing staff adapt to the new way of…
Conservatives table bill on open banking, pressuring Liberals to move forward with stalled legislation (THE GLOBE AND MAIL)
The Conservatives introduced a private…
Tax Court disqualifies government loan spending from SR&ED, with potentially devastating implications for Canadian tech (BETAKIT)
In late May the Supreme Court of Canada dismissed an…
Former NYSE President in Talks to Reboot FTX Exchange (THE WALL STREET JOURNAL)
A company run by former New York Stock Exchange President Tom Farley is among three suitors vying to buy the remnants of FTX, as the auction for…
Report: Diversity gap persists in senior ranks of Canadian VC firms (BETAKIT)
Despite year-over-year gains in the representation…
Andreessen Horowitz Leads $60 Million AI Fintech Investment (BNN BLOOMBERG)
Black Ore Technologies Inc., a startup building artificial intelligence tools for the financial services industry, is emerging from stealth with a $60 million funding round…
Government of Alberta proposes changes to clear path for tech firms to use ‘software engineer’ title (BETAKIT)
The Government of Alberta has tabled changes designed to enable technology companies in the province to use the ‘software engineer’ title to attract and retain skilled talent…
US consumer finance regulator wants to extend oversight to digital wallets (FINANCIAL TIMES)
The top US consumer finance regulator is seeking new powers to oversee technology companies that offer digital wallets and payment applications, in a move that would intensify scrutiny over companies such as Google and Apple.
Tokens.com slashes headcount by 40 percent in push to cut costs (BETAKIT)
Toronto-based cryptocurrency and Web3 firm Tokens.com has…
Celsius Network, One of Crypto’s Biggest Collapses, Ends Bankruptcy Case (THE WALL STREET JOURNAL)
Celsius Network, the crypto platform that touted itself as safer than a bank, won court approval to end its bankruptcy case and release most of its remaining cryptocurrency back to…
Trio of Canadian tech companies show progress towards profitability in earnings this week (BETAKIT)
Amid a prolonged period of high inflation, rising interest rates, and economic uncertainty, tech stocks have fallen and capital has…
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