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Canadian Tech in 100 Words

EQ Bank and PC Financial Merge in $800M Shakeup

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EQ Bank is making a major play in Canadian banking, acquiring PC Financial from Loblaw in an $800-million deal that merges two digital leaders aiming to chip away at the dominance of Canada’s Big Five. The partnership brings EQ Bank’s online savings products together with PC’s credit and loyalty ecosystem, backed by 17 million PC Optimum members.

Loblaw will hold a 17 percent stake in EQB. Analyst Keldon Bester says the merger strengthens competition rather than shrinking it. Customers gain more products and 2,500 in-store touchpoints, though EQB expects $30 million in cost synergies. Closing is expected next year.

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pH7 Raises $25.6M to Unlock New Copper Supply

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pH7 Technologies has closed USD $25.6 million in new funding, positioning the Vancouver cleantech startup to scale its breakthrough extraction tech just as global demand for copper hits historic pressure.

Led by Fine Structure Ventures with BHP Ventures joining as a strategic investor, the round fuels commercial deployments of pH7’s closed-loop electrochemical system, which turns previously uneconomic ores into viable domestic sources of copper, nickel, and PGMs. CEO Mohammad Doostmohammadi says the technology offers nations a path to secure resilient mineral supply chains. pH7 already operates a commercial PGMs facility in Vancouver.

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U of T, Google Create $20M Hinton AI Chair

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The University of Toronto will establish a $20-million AI research chair named for Geoffrey Hinton, funded equally by Google and the university. Announced at NeurIPS, the Hinton Chair will recruit a leading scientist to drive breakthroughs and apply AI to medicine, engineering, and scientific discovery.

The gift extends Google’s long association with Hinton, whose deep-learning work at U of T reshaped modern AI and later drew major tech firms into bidding for his research team. U of T hopes the position strengthens Canada’s AI leadership as universities compete globally for top researchers.

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Legaltech Rivals Clash in AI Training Dispute

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Fastcase has filed a lawsuit in U.S. federal court against Canadian legaltech firm Alexi, alleging breach of contract, trade secret misappropriation, and trademark infringement. The complaint centres on a 2021 licensing agreement that Fastcase says barred redistribution of its legal database.

Fastcase claims Alexi trained AI models on its data, displayed Fastcase case law, and used its trademarks in ways that could imply affiliation. Alexi CEO Mark Doble disputes the allegations, calling them a misunderstanding timed to the recent Clio–vLex acquisition. The case comes amid intensifying competition in AI-driven legal research. No court schedule has been set.

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Shopify Merchants Slam Cyber Monday Outage

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Retailers are expressing frustration after a Cyber Monday outage left some Shopify merchants unable to access their stores’ backends for hours during one of the year’s busiest sales periods. Affected merchants, including Super Anime Store founder Allan Lobo, said they could not view or fulfil orders, update inventory, or send marketing emails.

Many complained the company provided little communication throughout the disruption. Shopify declined to comment beyond posts shared publicly by its support account and CEO. Some merchants say they will seek reimbursement for lost sales tied to the outage.

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Katalyze AI Names New Chief AI Officer

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Katalyze AI has appointed scientist and technologist Hannes Bretschneider as Chief AI Officer, strengthening the company’s leadership as it advances agentic AI for life-science manufacturing. Bretschneider, a co-founder of Deep Genomics, brings extensive experience in machine learning, genomics, RNA biology, and regulated computational systems.

His past work includes developing GenomeKit, pioneering splicing-prediction models, and leading machine-learning collaborations at the University of Toronto and Fable Therapeutics. CEO Reza Farahani said his expertise enhances Katalyze AI’s efforts to build autonomous agents capable of real-time decision-making in pharmaceutical production. A phased rollout of new agentic tools is planned.

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New Tool Maps Player Sentiment Across Games

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Vancouver-based Sprung Studios has launched Sonar, a free insights platform designed to help the games industry analyze how online audiences perceive key gameplay features. The tool combines AI-driven analysis with expert review to aggregate sentiment from players, critics, and creators across videos, articles, and community forums.

CEO James Chaytor said Sonar was developed to encourage deeper thinking about player experience and to elevate diverse perspectives. The platform distills positive and negative commentary across 26 standardized features, offering clear visualizations and detailed filters. Sprung Studios, founded in 2005, says Sonar saves developers significant research time.

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Telus Freezes Dividends, Seeks Health Partner

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Telus has frozen its dividend growth and is seeking a strategic partner to invest in Telus Health, arguing its current share price fails to reflect the company’s long-term growth prospects. The telecom will also discontinue its discounted share dividend program and accelerate asset sales.

Chief financial officer Doug French said Telus aims to integrate recent acquisitions LifeWorks and Workplace Options before securing a partner investment valued between $1 billion and $2 billion, potentially through a joint venture within 18 months. Telus is also exploring partnership opportunities for Telus Agriculture. Shares rose roughly 2.4 percent on the announcement.

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Nova Scotia Health Deploys AI Weapon Scanners

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Xtract One Technologies has secured a province-wide deployment with Nova Scotia Health, which selected the company’s SmartGateway system to enhance hospital security through AI-powered weapons detection. An initial order of 25 units follows a successful 12-day trial in Truro, where SmartGateway screened 7,400 entrants and detected 49 prohibited items, primarily pocket knives and box cutters.

Nova Scotia Health officials said the technology supports efforts to protect staff, patients, and visitors as violence against healthcare workers persists. CEO Peter Evans noted growing adoption across Canadian healthcare networks. SmartGateway offers fast, discreet screening without traditional metal-detector barriers.

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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.