TORONTO–(BUSINESS WIRE)–PureFacts Financial Solutions, a number one world WealthTech supplier of charges, reporting and AI-powered predictive analytics options, is happy to announce it has closed a CAD $20 million financing from Scotiabank and Spherical 13 Capital.
The financing, which builds on present relationships with Scotiabank and Spherical 13 Capital, will facilitate PureFacts’ aggressive world progress plans and fund potential acquisitions, together with the lately introduced acquisition of Quartal Financial Solutions. The financing can even speed up product growth and increase gross sales and advertising efforts. The spherical is the primary institutional funding for privately held PureFacts, which has been self-funded since its founding in 2010. Since then, the corporate has skilled exponential progress, together with a 152 per cent enhance in 12 months over 12 months income when contemplating its latest acquisitions and aggressive natural progress.
This funding builds on an distinctive 12 months for PureFacts that noticed the acquisition of Boston-based VennScience and Zurich-based Quartal Financial Solutions to grow to be a very world agency. The corporate additionally introduced key govt appointments together with Rajini McRae, a former Royal Financial institution of Canada govt as President, and it launched its AI-based predictive analytics product platform.
“As a client-centric agency, our seek for monetary companions has targeted on making certain that our company values are aligned and that our purchasers’ pursuits are entrance and centre,” says Robert Madej, CEO, PureFacts. “We’re very excited to be partnering with Scotiabank and Spherical 13 Capital as they confirmed great flexibility in making a win/win state of affairs. Having their monetary assist and experience will assist us service our purchasers across the globe, execute on our imaginative and prescient and gasoline our continued progress plans.”
PureFacts has received a number of prestigious business awards in 2020, together with being acknowledged amongst the world’s high 100 most modern WealthTech firms as a WealthTech100 award winner. PureFacts was additionally named a Nice Canadian Innovator for its AI options within the Monetary Providers class by Microsoft Canada.
“PureFacts is the market chief, with a popularity for offering distinctive software program and repair to its prospects,” says Bruce Croxon, Co-Founder, Spherical 13 Capital. “We’re excited to fund the subsequent leg of progress and look ahead to working intently with an distinctive administration workforce to assist obtain their targets.”
About PureFacts Monetary Options
Ranked a WealthTech100 Company and Great Canadian Innovator, PureFacts gives enterprise wealth administration and asset administration options for the monetary providers business in Canada, United States, Europe, Asia Pacific, Center East and Africa. PureFacts’ mission is to create significant wealth options that assist folks stay their greatest lives. They supply their purchasers with transformational WealthTech options to future-proof their enterprise and speed up progress by leveraging their experience in wealth administration information aggregation, advanced calculations, synthetic intelligence and machine studying.
Scotiabank is a number one financial institution within the Americas. Guided by their goal: “for each future”, they assist prospects, their households and their communities obtain success via a broad vary of recommendation, services, together with private and industrial banking, wealth administration and personal banking, company and funding banking, and capital markets. With a workforce of over 90,000 staff and belongings of roughly $1.2 trillion (as at July 31, 2020), Scotiabank trades on the Toronto Inventory Change (TSX: BNS) and New York Inventory Change (NYSE: BNS). For extra data, go to and observe them on Twitter @ScotiabankViews.
About Spherical 13 Capital
Spherical 13 Capital is a Toronto-based enterprise capital agency that invests in growth-stage know-how companies. The agency is managed by skilled traders and operators. It makes use of a disciplined funding method to establish distinctive entrepreneurs working firms with market management potential. Spherical 13 works ‘hands-on’ with its portfolio firms to unlock strategic and monetary worth.