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Canadian Tech in 100 Words

U.S. PE Firm Buys Vancouver Fintech PayByPhone

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A U.S. private equity firm has agreed to acquire Vancouver-based mobile parking payments company PayByPhone. New York-based Lightyear Capital signed a deal to purchase the fintech from corporate payments provider Corpay. PayByPhone serves more than 1,300 clients worldwide with digital parking payments and management software.

Chief executive Jonny Combe said the transaction supports the firm’s strategy to expand beyond parking into broader mobility payments. Lightyear said PayByPhone will operate independently and benefit from its fintech expertise. The acquisition is expected to close in the second quarter of 2026, subject to regulatory approvals.

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

Brilliant Harvest Raises US$4M Seed Round

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Calgary-based Brilliant Harvest has raised US$4 million in seed financing to expand its AI-powered customer experience platform for heavy equipment dealerships. New investors include FTW Ventures, Alpaca VC, Automotive Ventures, SVG Ventures, and NYA Ventures, alongside returning backers Builders VC and AltaML.

The company reports adoption across dealerships representing more than half of CNH Industrial’s large dealer network. Multiyear renewals with Rocky Mountain Equipment and Titan Machinery underscore customer confidence. Founder Remi Schmaltz said the funding will support product expansion beyond service teams, while maintaining capital efficiency. Brilliant Harvest was previously named to Calgary.tech’s Startups to Watch list for 2025.

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

TELUS Opens Sovereign AI Factory to Startups

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TELUS and L-SPARK announced a partnership to give Canadian startups access to the TELUS Sovereign AI Factory, the country’s most powerful supercomputer. The initiative addresses a key constraint facing domestic AI firms: limited access to high-performance compute without relying on foreign infrastructure.

Powered by NVIDIA H200 GPUs and Quantum 2 InfiniBand networking, the facility enables startups to train and deploy models under Canadian jurisdiction. TELUS CIO Hesham Fahmy said the collaboration keeps sensitive data, intellectual property, and economic value in Canada. The program prioritizes regulated sectors such as healthcare, finance, and public services, expanding enterprise-grade AI infrastructure to companies of all sizes nationwide.

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

Salesforce Report: AI Leads Sales Growth in 2026

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Salesforce has released its 2026 State of Sales Report, based on a survey of more than 4,000 sales professionals, revealing that artificial intelligence and AI agents are now the top growth tactic for sales teams in the year ahead.

According to the report, sales organizations that deploy AI agents are 1.7 times more likely to outperform peers, with agents expected to cut research time by about 34 percent and content creation by about 36 percent. The data also shows administrative tasks remain a productivity drag, especially for younger sellers. Sales teams report broad AI adoption and optimism for growth despite operational challenges.

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

AI Drives Canada’s VC Growth in 2025

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Canadian venture investment rebounded in 2025, driven largely by artificial intelligence. According to analysis by Inovia Capital using PitchBook data, Canadian companies raised US$5.6 billion, a 29 per cent increase year over year. AI-native firms captured 40 per cent of all venture dollars, up sharply from 2024 and double their share in 2015.

Canada outpaced peer economies including the U.K., France, Australia, and Germany. Inovia partner Kory Jeffrey cited global investor interest. Major contributors included Toronto-based Waabi and Cohere, which raised US$750 million and US$600 million respectively.

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

Calgary Startups Compete in Global Awards

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Two Calgary startups are seeking public support as finalists in the 2026 Global Startup Awards. Proptech company ResVR is nominated for Startup of the Year, while sustainability software firm Arbor is shortlisted for Youth Startup of the Year. Both were previously named to Calgary.tech’s Startups to Watch in 2026 list.

ResVR enables homebuyers to visualize properties using immersive 3D tools, while Arbor provides automated carbon accounting software for businesses. Public voting remains open until February 17, with winners gaining international exposure and growth opportunities. Supporters are encouraged to vote and help showcase Calgary’s innovation ecosystem globally.

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

IBM Flags Canada’s Defining AI Moment

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IBM Canada says Canadian businesses are entering a defining moment for artificial intelligence, according to a new report outlining five trends shaping confidence, speed, and trust in 2026. The study finds executives optimistic about their own organizations despite economic uncertainty, with strong emphasis on AI sovereignty and secure domestic infrastructure.

Agentic AI is accelerating decision-making, while trust and transparency remain critical for adoption. Workforce sentiment is largely positive, though resistance persists around AI-led management. IBM argues that enterprises moving from experimentation to operational AI will gain competitive advantage as Canada positions itself as a global leader in responsible AI deployment.

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Neo Financial Raises $68.5M at Higher Valuation

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Calgary-founded fintech Neo Financial has raised $68.5 million in an oversubscribed round led by more than 100 Canadian investors, at a valuation above its $362-million Series D in 2024. Backers include Alberta Investment Management Corporation, Northleaf Capital Partners, Plaza Ventures, and Sandstone Asset Management.

Neo will use the capital to launch Canada’s first fintech-led securitization program, enabling bank-style, capital-efficient credit growth. Chief executive Andrew Chau said the move aligns Neo with Tier 1 banking practices while scaling lending nationally. The raise underscores growing domestic confidence in Alberta-built financial technology and signals a maturation of Canada’s fintech ecosystem.

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

Air Passenger Complaints Face Three-Year Delays

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Canadians filing air passenger complaints now wait nearly three years for rulings from the Canadian Transportation Agency, according to new data from Toronto legaltech startup Courtready. Average wait times reached 987 days as of September 2025, while decisions issued fell sharply. CTA rulings declined from 7,076 in the third quarter of 2024 to 4,301 a year later, with just 1,348 decisions issued in September.

Courtready says delays are pushing more travellers into provincial courts, straining justice systems and increasing risks for self-represented litigants. Founded in July 2025, Courtready offers tools to track complaints, find hearings, and guide users through air travel disputes.

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

Velix Raises $2M to Tackle Logistics Finance

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Montreal fintech startup Velix has raised $2 million in pre-seed financing to build a financial operations platform for logistics and supply-chain operators. The round was led by Luge Capital, with participation from Stand Up Ventures and Accelia Capital. Velix also named Nicholas Richards, co-founder of ShipHero, as an advisor.

The company targets growing financial complexity among third-party logistics providers, which increasingly act as intermediaries managing freight reconciliation, billing, and disputes. Velix aims to replace manual workflows with automated tools as Canada’s logistics market expands. The capital will support hiring, product development, and market expansion ahead of broader platform availability.

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