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Canadian Tech in 100 Words

Dutch Fintech Expands Capital Lending to Canada

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Adyen has launched its financing solution, Capital, in Canada. Originally rolled out internationally in 2023, the product offers fast funding to small businesses using sales data from Adyen’s payment platform. By pre-approving merchants on SaaS platforms, Capital eliminates lengthy applications and hidden fees common in traditional lending, says Canada Country Manager Sander Meijers.

With over one million SMBs generating nearly half of Canada’s private-sector GDP, the need for quick access to capital is critical. Repayment is automatic, drawn from daily sales, and includes one fixed fee. Adyen’s local presence has grown since opening a Toronto HQ in 2023.

Want to know more? Check out the source code on Fintech.ca.

Wealth One Raises $200M to Disrupt Big Banks

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Fresh off its takeover, Wealth One wants $200M to scale its lending game. The bank, now owned by a Globalive-led crew including Anthony Lacavera, Beedie Capital, and Optimize, plans to double down on serving new Canadians, entrepreneurs, and the self-employed—markets the Big Five often ignore.

Ottawa okayed the buyout in June, a year after forcing out original investors over alleged China ties. Wealth One’s reboot isn’t just a rebrand; it’s a challenge to the country’s tight-knit banking scene. With new capital, the digital-first bank is betting it can grow where traditional players won’t.

Want to know more? Check out the source code on Bloomberg.

Lion Electric’s $6M Bust Shocks EV Scene

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Lion Electric’s journey from unicorn to scrapyard is nearly complete. The Quebec EV maker, once valued at $4.7 billion, is reportedly being scooped up for a fire-sale price of $6 million—just enough to cover parts. The buyer? Unknown. Details? Mostly sealed.

But insiders say it’s a liquidation deal, with little left for big-name creditors like the Caisse de dépôt, which poured in $15 million. Buyers may fear service gaps post-bankruptcy. Lion’s not talking; its spokesperson declined comment. After years of hype and government support, the electric bus pioneer’s road ends in silence.

Want to know more? Check out the source code on La Presse.

Toronto’s CentML Acquired by Chip Giant Nvidia

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American semiconductor titan Nvidia has acquired Toronto’s CentML, a machine learning and AI startup, for an undisclosed sum. Founded by Gennady Pekhimenko, Akbar Nurlybayev, and Sam Wang, CentML specialized in optimizing hardware for ML performance. The co-founders now join Nvidia in senior roles.

CentML’s federal registration ceased June 6, 2025, transitioning operations to British Columbia before ending completely by July 17. The Logic first reported the deal, later confirmed by the Vector Institute. Not all staff will join Nvidia. The acquisition follows AMD’s purchase of Untether AI, highlighting a trend of Canadian AI talent shifting southward.

Want to know more? Check out the source code on BetaKit.

Automakers Reject 2035 Electric Vehicle Target

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In Calgary, during a panel led by The Logic’s David Skok, GM Canada president Kristian Aquilina declared the automaker’s opposition to federal mandates requiring all vehicle sales be electric by 2035. Aquilina emphasized customer choice over enforced targets. Ottawa’s regulations, introduced in 2023, stipulate 20% of sales be zero-emission by 2026, rising to 100% by 2035.

Auto executives, citing inadequate incentives and recent U.S. tariffs, have urged Prime Minister Mark Carney to reconsider. A spokesperson for Environment Minister Julie Dabrusin stated the government will consult industry stakeholders, hinting that adjustments to the ambitious policy may now be possible.

Want to know more? Check out the source code on The Logic.

Deloitte Canada Acquires Toronto Fintech Allevar

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Deloitte Canada has acquired Toronto-based financial technology firm Allevar in a move to strengthen its regulatory compliance and risk technology capabilities. Founded in 2005 by Dan Wood, Allevar evolved from a business architecture consultancy into a provider of solutions for fraud management, anti-money laundering, payment systems, and know-your-customer processes.

Allevar’s leadership, including Wood, Dave Whyte, and Maureen Binder Kotopski, will join Deloitte’s Regulatory & Risk practice. “This acquisition represents a significant milestone,” Wood said, citing shared values and vision. Deloitte CEO Anthony Viel emphasized the deal’s strategic importance for helping clients achieve growth anchored in compliance and operational efficiency.

Want to know more? Check out the source code on Fintech.ca.

CaterDash Revolutionizes Catering with Tech Marketplace

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Vancouver-based CaterDash has swiftly established itself as the premier catering marketplace for B.C.’s tech sector. Founded by Shreyansh Manchanda, the company offers businesses curated, flexible catering from top restaurants, enabling orders in seconds and reducing costs by up to 50%.

CaterDash now serves over 250 clients, including Microsoft and Amazon, and has expanded to Toronto and Calgary. Manchanda, who personally fulfilled more than 500 events, attributes the platform’s success to its hands-on approach and commitment to quality. As a BC Tech Awards finalist, CaterDash is scaling into weddings, conferences, and festivals, aiming to reshape catering across North America.

Want to know more? Check out the source code on Techcouver.

Cohere Opens Montréal Hub to Bolster AI Research

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Toronto-based AI startup Cohere is opening a Montréal office to deepen ties with Québec’s AI ecosystem. The company, which develops enterprise AI tools and large-language models, plans to triple its current seven-person Montréal team. CEO Aidan Gomez said the hub will help attract talent and strengthen partnerships with institutions such as Mila, the globally recognized AI research institute.

Cohere recently signed a memorandum of understanding with the federal government and received $240 million to build a Canadian AI data centre, reportedly linking to CoreWeave’s new Cambridge facility. Cohere’s expansion reinforces its focus on Canadian AI leadership and multilingual support.

Want to know more? Check out the source code here.

D-Wave Secures $400M to Fuel Growth and Acquisitions

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Quantum computing pioneer D-Wave has raised US$400 million through an at-market equity offering in June, selling shares at an average price of US$15.18. The British Columbia-based firm now holds US$815 million in cash, significantly strengthening its balance sheet. CEO Alan Baratz said the funding will support acquisitions and further development of D-Wave’s quantum technologies.

The company, which lost US$143.9 million last year, previously indicated it could achieve profitability with US$304 million on hand at Q1’s end. This marks the fourth capital raise in just over a year, as D-Wave capitalizes on share-price gains to fuel its ambitious growth strategy.

Want to know more? Check out the source code on The Logic.

Wheaton Precious Metals Launches $1M Mining Challenge

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Wheaton Precious Metals has announced the return of its Future of Mining Challenge, offering a $1 million prize for innovative water management technology. Open to ventures worldwide, the 2025/26 competition aims to uncover solutions that improve mining efficiency while reducing environmental impact.

Expressions of interest are due by August 29, with finalists presenting at the PDAC Convention in Toronto next March. This year’s challenge, delivered in partnership with Creative Destruction Lab-Vancouver, builds on Wheaton’s commitment to sustainability. “Constant innovation is essential,” said CEO Randy Smallwood. The initiative seeks to accelerate commercialization of breakthrough water technologies across the global mining sector.

Want to know more? Check out the source code on CleanEnergy.ca.