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Canadian Tech in 100 Words

Fintech Propel Launching International Bank in 2026

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Canadian fintech Propel has secured regulatory approval from Puerto Rico’s Office of the Commissioner of Financial Institutions to establish Propel International Bank. The wholly owned subsidiary is now licensed as an International Financial Entity and will focus on underwriting, compliance, and customer service for Propel’s current and future banking partners.

CEO Clive Kinross said the new bank strengthens Propel’s platform and creates opportunities for market expansion, diversification, and long-term growth. Headquartered in Puerto Rico, Propel Bank is expected to launch in the first half of 2026. Propel’s brands include Fora Credit, CreditFresh, MoneyKey, and QuidMarket.

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

New Hub Opens for Vancouver Founders

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North House, an 8,000-square-foot coworking hub for early-stage founders, has opened in Vancouver’s Mount Pleasant in a floor previously occupied by Hootsuite. Operated by the League of Innovators, the site offers desks, meeting rooms, phone booths, and programming to support startup formation and growth.

A sold-out launch event drew 200 attendees and featured Eric Ries, Ryan Holmes, and SmartSweets founder Tara Bosch. LOI executive director Rob Ironside said the space fills a longstanding need for centralized support for emerging founders. North House already hosts more than ten startups, with many more waiting.

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

New Agrifood Hub Targets Innovation, Talent Gaps

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Calgary is moving to strengthen its position in agrifood innovation with a commitment of up to $2.75 million from the Opportunity Calgary Investment Fund to launch AgSphere, a new hub connecting producers, startups, investors, and partners. Temporarily based at Stampede Park, AgSphere will feature an innovation centre, event space, national producer network, and career platform.

It aims to support 75 companies and train 450 workers amid a projected 100,000-person labour shortage by 2030. Mayor Jeromy Farkas and OCIF CEO Brad Parry said the initiative builds on Alberta’s agricultural legacy and aligns with Calgary’s broader innovation strategy.

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

Canadian Firm to Power New Mexico AI Data Centre

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Vancouver-based Desert Mountain Energy has signed a letter of intent to build a sodium-nickel-chloride battery manufacturing plant to support the forthcoming Roswell Information Park, a hyper-scale AI data centre in New Mexico.

CEO Robert Rohlfing said the company’s experience in helium and natural gas positions it to contribute to the project’s energy supply and sustainability strategy. Plans also call for treating produced water from local operators for reuse in cooling systems, reducing aquifer withdrawals and operating costs. The batteries’ stability and long lifecycle suit data-centre demands. An engineering evaluation is next.

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

CVCA Names Bergen CEO Amid Capital Crunch

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Benjamin Bergen, longtime president and CEO of the Council of Canadian Innovators, will become the next chief executive of the Canadian Venture Capital and Private Equity Association on January 5. Bergen, who helped CCI become a dominant policy voice for Canada’s 175 scaleups, said the move reflects a desire to focus on the investor ecosystem amid shrinking early-stage pipelines and renewed capital shortages.

CVCA, which has been without a leader since May, represents more than 350 VC and private equity firms. Bergen will craft the association’s next three-year strategy as Canada confronts economic headwinds and declining investment activity.

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

Marvell Plans $238M Expansion With Support From Ontario

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Invest Ontario is supporting a major expansion by Marvell Technology, which plans to invest $238 million over five years to grow its semiconductor R&D workforce in Ontario. The agency intends to provide a grant of up to $17 million, pending a final agreement.

The initiative would create up to 350 jobs, add an 8,000-square-foot optical lab, and establish a new office near the University of Toronto while scaling operations in York Region and Ottawa. Officials say the project strengthens Ontario’s semiconductor sector as AI-driven data centre demand rises. Marvell cited Ontario’s talent as a key draw.

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

Vancouver Startup Tackles Accuracy Crisis in Investor Relations

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As generative AI reshapes corporate communications, Vancouver-based Versance.ai is positioning itself as a compliance-grade alternative to general-purpose chatbots. Designed for public issuers, the platform retrieves information directly from official filings, disclosures, websites, and earnings calls, providing answers with citations and time-stamped evidence.

CEO George Fleming says accuracy and auditability are essential in regulated markets where misinformation carries real risk. Versance uses a three-layer architecture and agentic retrieval system to ensure responses match the public record and avoid hallucinations. For investor relations teams, the result is faster, verifiable communication and reduced operational burden.

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

Ottawa Funds 1,200 New EV Chargers Nationwide

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The federal government is investing more than $10 million to expand Canada’s electric-vehicle charging network, directing funds through the Zero Emission Vehicle Infrastructure Program to Green Economy Canada and New Brunswick Power.

The projects will install over 1,200 chargers—including 950 Level 2 units and 40 fast chargers—across Alberta, New Brunswick, and Ontario in workplaces, residential buildings, and public spaces. Ministers Tim Hodgson and David Myles said the initiative supports cleaner transportation and stronger supply chains. New Brunswick Power CEO Lori Clark emphasized reducing range anxiety as Canada races to close a major infrastructure gap.

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

Shopify CEO Slams Federal Support for Nokia as “Bribe”

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Shopify CEO Tobi Lütke sharply criticized the federal government’s $40-million contribution to Nokia’s Kanata campus expansion, calling the support a “bribe” in posts on X. Lütke argued Ottawa is subsidizing each new job with taxpayer money, describing the approach as a decades-long form of foreign direct investment that civil servants mistakenly believe is beneficial.

The funds came through the Strategic Response Fund’s innovation stream. Lütke, who has advocated for policy reform through the Build Canada platform, said he has repeatedly tried to persuade federal officials of his stance. The comments underscore growing tension between tech leaders and policymakers.

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

Calgary Firm Pivots From Carbon Credits to Digital Predictions

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Calgary-based DeepMarkit has acquired Prospect Prediction Markets, shifting its focus from blockchain-based carbon credits to digital prediction markets. The deal gives DeepMarkit immediate access to Prospect’s blockchain-powered, free-to-play sports prediction platform amid rising global demand for real-time sentiment tools.

CEO Steve Vanry said shareholders want clearer user demand and scalable economics, both of which prediction markets provide. The acquisition brings leadership changes, including Prospect founder Trevor Broad becoming CTO and director, and Sacha Beharie joining as Head of Capital Markets. DeepMarkit plans to expand event categories and pursue partnerships while maintaining a compliance-led approach.

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