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Canadian Tech in 100 Words

Crypto Push: Robinhood Buys WonderFi, Bitbuy, Coinsquare

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Robinhood Markets will acquire Toronto-based WonderFi in a $250 million all-cash deal, offering $0.36 per share—a 41% premium on WonderFi’s last TSX close. The transaction brings 1.7 million users, $2.1 billion in client assets, and crypto platforms Bitbuy and Coinsquare under Robinhood’s control.

WonderFi’s team will join Robinhood’s Canadian operations, which already employ 140 staff in Toronto. The deal is expected to close in the second half of 2025, subject to regulatory approvals. Robinhood aims to grow its Canadian footprint and expand in crypto, as deregulation efforts under U.S. President Donald Trump reshape the sector.

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

Calgary SMEs Get $3.5M Boost for Innovation

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The Opportunity Calgary Investment Fund, with support from Alberta’s government, has launched OCIF Express—a new funding stream deploying up to $3.5 million to 23 Calgary-based SMEs. Focused on short-duration projects under 24 months, the initiative targets high-growth sectors like AI, clean energy, and aerospace.

OCIF Express aims to create over 150 jobs and provide skills training for nearly 90 workers. Recipients include ZayZoon, CoolIT Systems, Carbon Upcycling, and MRO Electronics. Alberta contributed $1.2 million to the fund. Officials say OCIF Express will accelerate innovation and local hiring while reinforcing Calgary’s economic resilience.

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

CICE Rebrands as NorthX to Scale Climate Tech

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The BC Centre for Innovation and Clean Energy (CICE) has rebranded as NorthX Climate Tech, reflecting a broader national focus on scaling climate hard tech. Launched in 2021, the organization has supported 65 climate solutions and created over 800 jobs. NorthX will prioritize energy storage, clean fuels, hydrogen, and carbon management while expanding support for large-scale industrial decarbonization.

Its new strategy includes repayable, non-dilutive investments and extended follow-on funding. CEO Sarah Goodman said the model aims to build Canada’s climate economy by backing early innovation and recycling capital. “Let’s build what matters,” she stated.

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

Clio Strengthens Leadership With Foreman Appointment

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Clio has appointed John Foreman as Chief Product Officer, reinforcing its commitment to innovation in legal technology. Foreman, previously Chief Product and Marketing Officer at Podium and former Chief Product Officer at Mailchimp, brings over 15 years of SaaS leadership experience.

At Clio, he will lead product strategy across its expanding platform, with a focus on intelligent, AI-driven tools that simplify legal work. CEO Jack Newton called Foreman a “bold” leader poised to redefine legal operations. Foreman’s background in data science and product development aligns with Clio’s mission to improve efficiency and client service in the legal profession.

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

Vancouver’s Tech Sector Gears Up for Web Summit

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Vancouver will soon host Web Summit, one of the world’s premier technology conferences, offering BC’s tech sector a rare global spotlight. Local firms view it as a pivotal opportunity: 44% aim to drive sales or partnerships, 25% seek insights, and others target funding, exposure, or talent. For investors, strong sector alignment and product-market fit matter more than ever.

Web Summit signals BC’s global ambition and opens doors to capital and collaboration. More than a tradeshow, it’s a catalyst for long-term growth—if companies approach it with purpose, preparation, and a post-conference plan.

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

Ontario Approves G7’s First Small Modular Reactor

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Ontario has approved construction of Canada’s first small modular reactor (SMR) at Darlington, marking the G7’s first such project. Once operational, the reactor will power 300,000 homes. Ontario Power Generation plans to build four SMRs producing 1,200 megawatts in total.

The project is expected to create up to 18,000 jobs and contribute $38 billion to GDP over 65 years. Officials say it supports rising electricity demand and energy security. Led by Canadian firms and materials, the initiative positions Ontario as a global SMR leader while strengthening the domestic supply chain and advancing clean energy goals.

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

WestJet Sells 25% Stake to Global Airline Partners

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Onex Partners has sold a 25% stake in Calgary-based airline WestJet for US$550 million, with Delta Air Lines acquiring 15% for US$330 million and Korean Air taking 10% for US$220 million. The deal includes an option for Delta to sell 2.3% of its share to Air France-KLM for US$50 million upon closing.

Onex acquired WestJet in 2019. Delta and Korean Air have partnered with WestJet since 2011. The move comes as WestJet adjusts operations, recently suspending several U.S.-bound routes due to declining demand from Canadian travelers.

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

Canada’s Real-Time Rail Nears Testing Phase

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Canada’s long-anticipated Real-Time Rail (RTR) payment system is nearing completion, with testing expected to begin in approximately two months, according to Payments Canada. The non-profit, responsible for the country’s payments infrastructure, began work on RTR in 2015.

Delays have plagued the project, with critics alleging that large banks—dominant members of Payments Canada—used their influence to stall progress and block competition. Payments Canada denies the claim. With core infrastructure nearly ready, attention shifts to urging banks and fintechs to prepare for integration. RTR promises instant money transfers between bank accounts, ushering in faster, more accessible digital payments.

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

Telus Boosts Dividend Amid Strong Earnings

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Telus posted $301 million in net income this quarter, more than doubling last year’s result. The Vancouver-based telecom added over 1.1 million subscriptions across its service lines, prompting a 7% dividend increase to $1.67 annually. While average revenue per mobile user declined, customer growth—particularly for unlimited North America plans—strengthened performance.

Telus Health and Telus Digital also contributed rising revenue. The results come in stark contrast to Bell’s, which cut its dividend by over 50% to manage debt. Telus’s diversified strategy appears to be cushioning it against industry pressures and securing long-term shareholder value.

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

D-Wave Stock Surges on Quantum Computer Sale

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Burnaby-based D-Wave saw its stock soar 51.2% Thursday following first-quarter results that showed US$15 million in revenue—a 509% year-over-year increase. The gain was largely driven by the sale of a quantum computer to a German research centre. Despite posting a US$5.4 million loss, the firm maintains US$304.3 million in cash reserves, providing runway toward profitability.

CEO Alan Baratz defended the company’s progress amid skepticism over quantum’s maturity, asserting its systems are already addressing business needs. Future orders total US$1.6 million. The firm’s share price returned to March highs following a prior technology breakthrough announcement.

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