Also: Framework Venture Partners closes $100 million in second fund start.
Welcome to BetaKit Startup Stories of the Week! Here, you’ll find the week’s most important news, features and editorials published on Beta Kit. If you prefer this update to have it hit your inbox every week, be sure to sign up for the BetaKit newsletter using the form at the bottom of this page.
The main news of the week
With a new team, Framework Venture Partners first raised $100 million for a second round of funding
“I’m happier than I’ve ever been with Fund I because I feel like our chances of success have increased,” Peter Misek, founder and managing partner of Framework, told BetaKit.
Hootsuite restructuring, laying off 30 percent of employees
“Today is a tough day at Hotsuite,” said CEO Tom Kaiser. “…these people are our colleagues and friends. They are some of the best in their field, and we will do everything we can to help them land well elsewhere.
Lead’s conservative approach helps startups survive the crypto winter when other lenders fail
While Led is certainly feeling the impact of the crypto crash, Led’s Mauricio Di Bartolome says the startup is “in a very different position” compared to many of its peers. “That’s not all that’s clear after all this. [crypto] Lending platforms are created equal.
Speaking of regulation, market conditions clash with glittering behavior at the Blockchain Futurist Conference.
The setup allowed participants to rent the company’s cabanas, spend the night in the pool, park their boats outside, and fly in with the local helicopter service. One of the conference’s international attendees heard a rumor that they had recently rented a $5 million Airbnb. Their company.
Following the completion of the SPAC deal, D-Wave will list on the New York Stock Exchange.
While D-Wave had hoped the deal would generate $340 million in gross proceeds, SEC filings show that the company’s shareholders bought more than $291 million worth of stock at $10.01 a share.
Recent funding, acquisitions and layoffs
Van-Well Health posts quarterly earnings (read more)
VAN – Thinkific Labs Focuses on Returning to Profitability (read more)
Van – BBTV expects losses as YouTube growth slows (read more)
Van-Mogo in the crypto market crash (read more)
WAT – Magnet Forensics is on the edge of the bottom line (read more)
TOR – Propel Holdings backed by strong credit demand (read more)
TOR – Payment Increases Revenue, Reduces Losses (read more)
TOR – Q4 Inc. It says it is accelerating its path to profitability (read more).
TOR-E Inc. Adjusts Strategy Amidst Macro-Economic Challenges (read more)
MIS – Goeasy adds revolving facility (read more)
MTL – Nuvey created by the volatility of digital assets, crypto (read more)
MTL – Increases revenue as chat health losses grow (read more)
Can fintech help Canadian Muslims with financial access?
“I represent a different community with different interests.”
Mohamed Sawaf, CEO of Manzil, explains the ways in which culture, regulation and compliance are holding back more than one million Muslims across Canada from financially serving them.
Shopify Stumbling, Rogers Invincible, Refund Collection
“That’s the drag quote. ‘Amber Mack: Things are falling apart.’
Special guest Amber Mack joins to answer listener questions on the award-winning Betakit podcast. Topics include: Shopify layoffs, Rogers’ earnings resilience for a second layoff last year, Canada’s digital divide and early stage fundraising tips.
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