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PureFacts Announces the Closing of a $37 Million Financing Round
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
PureFacts Financial Solutions has closed a $37 million strategic financing round with investment from Canadian Business Growth Fund, The Bank of Nova Scotia (NYSE:BNS), and Round13 Capital. The funding will accelerate product development and facilitate strategic acquisitions as PureFacts aims to enhance its position in the WealthTech sector. The company, serving over 100 clients and managing assets exceeding $1 trillion, focuses on providing innovative solutions for wealth and asset management.
Positive
Closing of a $37 million strategic financing round.
Investment from reputable entities including The Bank of Nova Scotia (BNS).
Funds will be utilized for product development and strategic acquisitions.
PureFacts serves over 100 clients with a combined $1 trillion in assets under management.
Negative
None.
TORONTO--(BUSINESS WIRE)--
PureFacts Financial Solutions announces the closing of $37 million in strategic financing from Canadian Business Growth Fund (CBGF), The Bank of Nova Scotia and Round13 Capital. With this investment the PureFacts team is excited to progress into its next phase of growth. The funds will be used to accelerate product development and make further strategic acquisitions.
A recognized WealthTech leader, PureFacts Financial Solutions provides revenue management and insights driven wealth accumulation and deaccumulation solutions to the financial services industry. Ranked a 2021 AI FinTech 100 company, 2021 Microsoft Top Canadian Innovator in Financial Services, a 2020 WealthTech 100 company and a Top 15 Canadian Innovator, PureFacts provides transformational solutions to wealth and asset managers, banks, insurance companies and custodians, in Canada, Europe, UK, APAC and the U.S., that help them future proof their businesses and accelerate their growth.
“This is an incredible milestone for our company. I am honoured to have the trust and support of our financial partners – Scotia Bank, CBGF and R13. We are excited by the opportunity to continue to grow and serve our stakeholders by bringing market leading wealth solutions to the financial services industry. I am humbled and thankful. This is a new chapter for PureFacts,” says Rob Madej, Founder and CEO of PureFacts Financial Solutions.
“The Canadian Business Growth Fund invests in companies that it believes will be the next generation of growth in Canada. PureFacts is such an organization, focused on the success of its financial clients. The wealth solutions that PureFacts provides have supported enterprise clients over the long haul. This is a highly innovative and credible team. We are excited to invest in them and help accelerate their growth,” says George Rossolatos, CEO of Canadian Business Growth Fund.
The funding round consisted of a combination of equity and financing, with CBGF as the lead investor.
About PureFacts
Founded in 2010, PureFacts is a global company serving over 100 clients with a combined one trillion in assets under management. PureFacts’ wealth-tech solutions help some of the largest and most recognizable global wealth management firms increase productivity, reduce costs, and create enhanced customer experiences. Its’ solutions help firms retain their most valued clients, deliver high quality advice, and prevent costly mistakes.
The Canadian Business Growth Fund (CBGF) provides long-term, patient, minority capital to ambitious entrepreneurs to fund growth and expansion of mid-market businesses with investments between $3 to $20 million. An evergreen investment fund with capital commitments of $545 million, CBGF is committed to long-term partnerships with the companies it invests in. As part of its mission to drive growth, CBGF connects business leaders and sector experts to help its partner business achieve their full potential. For companies seeking investment opportunities, please email us at contact@cbgf.com. To learn more, please visit us at www.cbgf.com.
About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by their purpose: "for every future", they help customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of over 90,000 employees and assets of approximately $1.1 trillion (as at April 30, 2021), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, visit and follow them on Twitter @ScotiabankViews. www.scotiabank.com
About Round 13 Capital
Round 13 Capital is a Toronto-based venture capital firm that invests in growth-stage technology businesses. The firm is managed by experienced investors and operators. It uses a disciplined investment approach to identify exceptional entrepreneurs running companies with market leadership potential. Round 13 works 'hands-on' with its portfolio companies to unlock strategic and financial value.
