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Canadian Tech in 100 Words

BVCU Becomes First Credit Union to Offer Bitcoin

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Bow Valley Credit Union has become the first Canadian credit union to launch a direct Bitcoin purchasing platform. The Bitcoin Gateway, developed in partnership with Bull Bitcoin and Balance, allows members to buy insured Bitcoin straight from their BVCU accounts—no exchanges or third parties required.

Unlike pooled or derivative-based crypto services, users retain full ownership, with custody handled by Balance. CEO Brett Oland says the platform removes barriers to Bitcoin access. Bull Bitcoin provides pricing and liquidity, while the offering targets both new and experienced investors. The move positions BVCU as a leader in digital asset innovation in Canadian banking.

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

Workleap Acquires Barley to Expand HR Platform

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Workleap, a Montréal-based HR software firm, has acquired Toronto’s Barley, a compensation planning startup, to expand into pay management and support its upcoming AI tool. Founded in 2021, Barley helps businesses structure and analyze employee compensation. Its six-person team, led by Loopio co-founder Jafar Owainati and Reelhouse’s Billy Mainguy, will join Workleap post-acquisition.

CEO Simon De Baene called the deal a strategic fit that unites performance management with pay transparency. The Barley product will integrate by October, while Workleap AI launches this week to help HR teams surface insights from employee data. Deal terms were not disclosed.

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

Moonvalley AI Launches Filmmaker-Focused Marey Model

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Toronto-based Moonvalley AI has unveiled Marey, a new video-generation model designed specifically for film industry professionals. Unlike general-use tools such as OpenAI’s Sora or Google’s Veo, Marey offers enhanced controls for filmmakers, including camera and character functions tailored for creative production.

CEO Naeem Talukdar emphasized the platform’s intent to complement rather than replace artists. Trained on licensed content from Vimeo, YouTube filmmakers, and production firms across North America, West Africa, and East Asia, Marey reflects a global creative approach. Moonvalley believes studios are seeking refined, specialist AI tools rather than broad consumer-focused options.

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

VitalHub Acquires Novari in $48.6M Deal

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Toronto-based VitalHub has acquired Novari Health of Kingston, Ontario, in a deal worth up to $48.6 million CAD. The acquisition includes $35.8 million in cash, $7.8 million in shares, and up to $5 million in performance bonuses. Novari, a developer of referral and waitlist management software, posted $12 million in annual recurring revenue and was nearing EBITDA breakeven.

VitalHub called the deal strategic, reinforcing its leadership in Canada’s patient flow and referral tech space. CEO Dan Matlow praised Novari’s long-standing impact and hinted at global ambitions, particularly in the U.K., leveraging VitalHub’s expanding international reach.

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

320-Acre Campus Aims to Fix Grid Bottlenecks

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Calgary’s Net Zero Now just wrapped environmental studies on a 320-acre energy campus aimed at powering Canada’s AI boom. The goal? Merge electricity generation and data infrastructure into one fast-to-market solution. With 400MW of base load power, backup systems, and a connected data centre hub, the project tackles Alberta’s grid bottlenecks head-on.

“Operators can plug into clean power—fast,” says Head of Energy Scott Martin. Using net zero construction techniques and smart siting, it’s designed for hyperscalers eyeing Alberta’s cheap power and tax perks. The company wants to turn Alberta into a global data centre leader.

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

Dutch Fintech Expands Capital Lending to Canada

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Adyen has launched its financing solution, Capital, in Canada. Originally rolled out internationally in 2023, the product offers fast funding to small businesses using sales data from Adyen’s payment platform. By pre-approving merchants on SaaS platforms, Capital eliminates lengthy applications and hidden fees common in traditional lending, says Canada Country Manager Sander Meijers.

With over one million SMBs generating nearly half of Canada’s private-sector GDP, the need for quick access to capital is critical. Repayment is automatic, drawn from daily sales, and includes one fixed fee. Adyen’s local presence has grown since opening a Toronto HQ in 2023.

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

Wealth One Raises $200M to Disrupt Big Banks

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Fresh off its takeover, Wealth One wants $200M to scale its lending game. The bank, now owned by a Globalive-led crew including Anthony Lacavera, Beedie Capital, and Optimize, plans to double down on serving new Canadians, entrepreneurs, and the self-employed—markets the Big Five often ignore.

Ottawa okayed the buyout in June, a year after forcing out original investors over alleged China ties. Wealth One’s reboot isn’t just a rebrand; it’s a challenge to the country’s tight-knit banking scene. With new capital, the digital-first bank is betting it can grow where traditional players won’t.

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

Lion Electric’s $6M Bust Shocks EV Scene

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Lion Electric’s journey from unicorn to scrapyard is nearly complete. The Quebec EV maker, once valued at $4.7 billion, is reportedly being scooped up for a fire-sale price of $6 million—just enough to cover parts. The buyer? Unknown. Details? Mostly sealed.

But insiders say it’s a liquidation deal, with little left for big-name creditors like the Caisse de dépôt, which poured in $15 million. Buyers may fear service gaps post-bankruptcy. Lion’s not talking; its spokesperson declined comment. After years of hype and government support, the electric bus pioneer’s road ends in silence.

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

Toronto’s CentML Acquired by Chip Giant Nvidia

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American semiconductor titan Nvidia has acquired Toronto’s CentML, a machine learning and AI startup, for an undisclosed sum. Founded by Gennady Pekhimenko, Akbar Nurlybayev, and Sam Wang, CentML specialized in optimizing hardware for ML performance. The co-founders now join Nvidia in senior roles.

CentML’s federal registration ceased June 6, 2025, transitioning operations to British Columbia before ending completely by July 17. The Logic first reported the deal, later confirmed by the Vector Institute. Not all staff will join Nvidia. The acquisition follows AMD’s purchase of Untether AI, highlighting a trend of Canadian AI talent shifting southward.

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

Automakers Reject 2035 Electric Vehicle Target

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In Calgary, during a panel led by The Logic’s David Skok, GM Canada president Kristian Aquilina declared the automaker’s opposition to federal mandates requiring all vehicle sales be electric by 2035. Aquilina emphasized customer choice over enforced targets. Ottawa’s regulations, introduced in 2023, stipulate 20% of sales be zero-emission by 2026, rising to 100% by 2035.

Auto executives, citing inadequate incentives and recent U.S. tariffs, have urged Prime Minister Mark Carney to reconsider. A spokesperson for Environment Minister Julie Dabrusin stated the government will consult industry stakeholders, hinting that adjustments to the ambitious policy may now be possible.

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