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Canadian Tech in 100 Words

Wealthsimple Honoured After Breakout Year

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Toronto fintech Wealthsimple has been named the 2026 CIX Innovator of the Year by Elevate and the National Angel Capital Organization, recognizing its impact on Canada’s financial services sector. CEO Mike Katchen will accept the award at the CIX Summit on March 25 in Toronto.

The company doubled assets under administration to more than $100 billion in 2025, added 650,000 clients and raised $750 million at a $10 billion valuation. It also launched 24/5 U.S. stock trading, margin accounts and a credit card, while acquiring Fey and Plenty. Past winners include Shopify and Clio.

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Canadian Fintech Funding Reaches $2.4B in 2025

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Canada’s financial technology sector attracted US$2.4 billion across 113 deals in 2025, PitchBook data shows, down from 2024’s record but buoyed by major transactions including Converge Technology Solutions’ US$898-million buyout, Wealthsimple’s US$536-million raise and Ripple’s US$200-million acquisition of Rail.

KPMG partner Dubie Cunningham said investors now favour mature firms with scalable platforms and customer traction, a trend expected to continue through 2026 as challenger banks expand and open banking launches. AI fintechs led activity with 29 deals, ahead of crypto and blockchain at 26. Kareem Sadek said clearer rules for stablecoins and governance will boost confidence in digital assets and automation-driven services.

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Canadian Tire Expands AI Platform With Microsoft

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Canadian Tire Corporation is expanding its partnership with Microsoft to roll out MOSaiC, an AI-driven retail intelligence platform across Canadian Tire, Mark’s and SportChek channels. Built on Microsoft Azure, the system blends sales, loyalty and external data such as weather and events to predict demand patterns and coordinate inventory, promotions and digital content.

Executives say the tool moves the retailer beyond transactions toward serving customer “life occasions.” During pilots, MOSaiC identified more than 1,000 retail scenarios. The company is also deploying Microsoft 365 Copilot internally and training staff in AI adoption as part of its True North modernization strategy nationwide rollout.

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TSX Venture 50 Shows Mining Surge

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The TSX Venture Exchange unveiled its 2026 TSX Venture 50 ranking, highlighting the top-performing issuers of 2025 and signalling renewed investor confidence in Canada’s junior capital markets. The cohort reached a combined market capitalization above $21.5 billion, rising $17.9 billion year-over-year, with average market value growth of 775% and share price gains of 431%.

Mining dominated the list with 48 companies, reflecting strong demand for gold, silver and critical minerals. Santacruz Silver Mining led the ranking, followed by Ucore Rare Metals. Three technology firms — Volatus Aerospace, Quantum eMotion and Gatekeeper Systems — also showed strong growth tied to security and defence innovation.

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Google Adds AI Music Creation to Gemini

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Google has introduced Lyria 3, a generative music model now available in beta inside the Gemini app, allowing users to create short songs from text prompts or images. The tool produces 30-second tracks complete with lyrics, style controls and custom cover art in seconds.

The model improves realism and creative control compared with earlier versions and automatically generates lyrics if none are provided. All audio includes SynthID watermarking to identify AI-generated content and support copyright safeguards. Google says the feature aims to enable everyday creative expression rather than replace professional music production.

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Expedia Launches Flight Deals Tool in Canada

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Expedia has introduced Flight Deals in Canada, an app-based feature that highlights airfares at least 20% below predicted prices. The tool analyzes millions of flights daily using historical data and machine learning, filtering out itineraries with multiple stops or long layovers.

An interactive iOS map allows travelers to compare destinations visually, while customizable alerts notify users of new bargains. Executives say the system evaluates overall trip quality rather than simple price tracking. Available free within the Expedia mobile app, the service lets customers search open-ended destinations and complete bookings directly on the platform.

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Shakudo Raises Funding, Heads to Silicon Valley

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Toronto startup Shakudo just raised US$7 million to help companies actually use AI, not just experiment with it. Backed by Wittington Ventures and existing investors, the company builds software that lets teams run large language models and AI agents inside their own systems instead of sending data to outside clouds.

That matters most in regulated sectors like finance and healthcare. Even Loblaw’s digital arm already uses the platform. Next up: a San Francisco office and broader global push. By leaning on open-source tools, Shakudo also promises lower AI costs for enterprises adopting the technology.

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Satellite Venture Sues University Over Spinout

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University of Toronto is facing a $150-million lawsuit from SFL Missions, a satellite venture originating from its Space Flight Laboratory. The company alleges the university blocked its planned spinout by restricting access to facilities and funding, causing irreparable business harm. The claims have not been tested in court.

University spokesperson Philippe Devos said the institution disputes the allegations and will defend the case, citing its academic mission and public responsibilities. Founded in 1998 for student spacecraft training, the lab evolved into a commercial operation before disagreements arose over separation terms.

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Alan Launches In-App Therapy Service in Ontario

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Alan has launched Alan Clinic in Ontario, offering licensed talk therapy directly through its insurance app. The service allows eligible members to book secure video sessions, manage payment, and access care without traditional reimbursement processes. General manager Mark Goad said the platform reduces administrative barriers while keeping insurance and clinical records separate.

Sessions are end-to-end encrypted, not recorded, and stored on Canadian servers accessible only to clinicians. The clinic does not diagnose or prescribe medication, referring patients to external services when necessary. The launch marks Alan’s first integrated care offering in Canada beyond coverage administration.

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BlackBerry Cofounders Back B.C. AI Firm

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Railtown AI has added Mike Lazaridis and Doug Fregin to its advisory board as part of a $3.4-million private placement they are leading. The BlackBerry cofounders are backing the Burnaby-based firm’s effort to build foundational artificial intelligence technology in Canada. Railtown develops tools including Railengine, Railtracks ADK and Conductr to help organizations deploy AI agents at scale.

CEO Cory Brandolini said the involvement reflects a culture of reinvestment common in Silicon Valley. Lazaridis said Canada must build platforms domestically so talent can innovate and compete globally without leaving the country.

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