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Canadian Tech in 100 Words

Cybrid Raises $10M to Power Stablecoin Payments in Canada

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Toronto-based Cybrid has raised $10 million USD in a Series A round led by BDC Capital’s Growth Venture Fund, with participation from Golden Ventures, Luge Capital, and Panache Ventures. The payments startup provides stablecoin infrastructure for enterprises and financial institutions, allowing blockchain-powered cross-border transactions.

CEO Avinash Chidambaram said the company’s growth has quintupled over the past year as adoption accelerates. Cybrid, now a registered payment service provider with the Bank of Canada, aims to expand across Europe. The round strengthens Canada’s push toward regulated stablecoin innovation amid growing calls for federal oversight.

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

Rivian Vans Hit the Road as Amazon Goes Green

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Amazon Canada has deployed its first fleet of electric delivery vans, marking a major step toward its 2040 net-zero goal. Fifty custom-built Rivian vehicles are now operating across Greater Vancouver, based out of the company’s Delta delivery station. “It’s tremendously exciting to launch our first major decarbonization initiative,” said Eva Lorenz, VP and Country Manager at Amazon Canada.

The vans feature 360-degree visibility, adaptive cruise control, and real-time integration with Amazon’s logistics system. Partnering with local Delivery Service Partners, Amazon plans to deploy 100,000 Rivian EDVs globally by 2030, cutting millions of tons of carbon emissions.

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

Deloitte Unveils Canada’s 2025 Technology Fast 50 Winners

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Deloitte Canada has announced the winners of its 2025 Technology Fast 50, recognizing the nation’s fastest-growing tech innovators. This year’s cohort posted an average three-year revenue growth of 2,623%, the highest in two decades.

Red Rock Regeneration topped the list with 12,166% growth, followed by Neo Financial, first in the Enterprise–Industry Leader category, and Vancouver’s Gearlay, leading Companies-to-Watch with 86,394% growth. Despite talent shortages and global expansion hurdles, AI and automation remain top investment priorities. “Canada’s tech leaders are demonstrating remarkable resilience and ambition,” said Deloitte’s Brendan Cooper.

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

Felix Health Raises $53M to Expand Personalized Telehealth

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Toronto-based Felix Health has secured $53 million in growth financing led by the Canadian Business Growth Fund (CBGF), with participation from BDC’s Women in Tech Venture Fund, BMO, Scotiabank, Whitecap Venture Partners, and H Venture Partners. The funding—an even mix of equity and debt—follows Felix’s recent profitability milestone and 80% year-over-year growth, reaching a $150-million annual run rate.

Founded in 2019, Felix offers personalized telehealth for over 20 conditions including mental health, menopause, and weight management. CEO Kyle Zien said the company plans to scale operations ahead of generic GLP-1 availability and invest in preventive “longevity” programs.

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

Milliseconds Matter: Fintech’s Overlooked Hardware Problem

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While fintech discussions often revolve around software and algorithms, hardware remains the silent driver of performance. A delay of just one millisecond can cost a major brokerage $100 million, notes Kevin Jia, CEO of Quoted Tech, a Canadian firm specializing in high-performance custom PCs.

Jia argues that mismatched components, inefficient cooling, or cheap builds create bottlenecks that limit even the best code. Balanced CPU-GPU configurations, fast SSDs, and stable networking are essential for trading, AI, and analytics. “When your business depends on milliseconds,” Jia says, “your infrastructure has to match.”

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

Wealthsimple Unveils New Suite of Investor Tools

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Wealthsimple unveiled a sweeping suite of products this week aimed at giving Canadians “every advantage possible to grow their wealth.” During Wealthsimple Presents: For Nerds Only in Toronto, the fintech announced true zero-commission options trading—the first of its kind in Canada—and new tools like direct indexing, real gold trading, and an expanded crypto lineup exceeding 100 assets.

The company plans to launch its most advanced “Summit” portfolio later this year and an AI-powered trading dashboard in 2025. With $100 billion in assets under management, Wealthsimple continues its mission to democratize complex investing for everyday Canadians.

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

MarineLabs Raises $4M to Expand Maritime AI Platform

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Victoria-based MarineLabs has raised $4 million in a seed extension round led by BDC Capital’s Sustainability Venture Fund, with participation from InBC Investment Corp. The maritime weather intelligence company operates a network of rugged, cloud-connected sensors across North America that provide real-time data on wind, waves, and weather.

The new funding will expand MarineLabs’ sensor network and accelerate growth across the continent. CEO Dr. Scott Beatty said the firm’s technology improves maritime safety and efficiency. MarineLabs’ flagship platform, CoastAware, delivers AI-driven forecasts and analytics used by major ports, pilots, and terminals to enhance coastal operations and resilience.

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

Harvey Expands to Toronto with New AI Engineering Hub

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AI legal platform Harvey has chosen Toronto for its first engineering hub outside the U.S., reinforcing Canada’s growing influence in legal technology. Backed by OpenAI’s Startup Fund and trusted by over 500 clients in 54 markets, Harvey aims to hire about 20 employees by early 2026.

CTO Siva Gurumurthy said Canada’s 35,000 law firms, deep technical talent, and robust innovation ecosystem made Toronto the ideal choice. The new team will enhance Harvey’s secure, customizable AI tools for in-house legal teams, focusing on compliance, privacy, and workflow automation—key priorities as AI reshapes the global legal profession.

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

Fintech Responds to Rising Cost-of-Living Pressures

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Canadian fintech KOHO has launched Joint Accounts, responding to growing demand for smarter money management tools among younger Canadians. According to the firm’s Canadian Shared Finances Report, developed with Angus Reid, 66% of Canadians value shared finances, yet only 42% currently have a joint account.

CEO Daniel Eberhard said KOHO’s new product simplifies shared spending with up to 2% Cash Back on essentials, 3.5% interest on balances, and integrated budgeting tools. Founded in 2014, Vancouver-born KOHO continues to expand its product suite following its $190 million funding round and the recent launch of International Money Transfers.

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

TD Bank Launches AI-Powered Wealth Virtual Assistant

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TD Bank Group has launched a new Wealth Virtual Assistant, a generative AI knowledge system built by its Toronto-based Layer 6 team. The tool, developed for TD Wealth, enables advisors to access information faster and deliver more personalized client support. “We’re equipping our colleagues with best-in-class tools,” said Sara Thomson, Senior Vice President of TD Wealth.

Chief of Analytics and AI Luke Gee added that the assistant reflects TD’s commitment to building a simpler, more efficient bank. The launch is part of a broader plan to deploy seven AI assistants across TD following its investment in AI Prism technology.

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