PureFacts Financial Solutions, a leading global WealthTech provider of fees, reporting and AI-powered predictive analytics solutions, is pleased to announce it has closed a CAD $20 million financing from Scotiabank and Round 13 Capital.
PureFacts has closed a CAD $20 million financing from Scotiabank and Round 13 Capital that will facilitate global growth and fund potential acquisitions, including recently announced Quartal Financial Solutions acquisition. #wealthtech #fintech
The financing, which builds on existing relationships with Scotiabank and Round 13 Capital, will facilitate PureFacts’ aggressive global growth plans and fund potential acquisitions, including the recently announced acquisition of Quartal Financial Solutions. The financing will also accelerate product development and expand sales and marketing efforts. The round is the first institutional investment for privately held PureFacts, which has been self-funded since its founding in 2010. Since then, the company has experienced exponential growth, including a 152 per cent increase in year over year revenue when considering its recent acquisitions and aggressive organic growth.
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This investment builds on an exceptional year for PureFacts that saw the acquisition of Boston-based VennScience and Zurich-based Quartal Financial Solutions to become a truly global firm. The company also announced key executive appointments including Rajini McRae, a former Royal Bank of Canada executive as President, and it launched its AI-based predictive analytics product platform.
“As a client-centric firm, our search for financial partners has focused on ensuring that our corporate values are aligned and that our clients’ interests are front and centre,” says Robert Madej, CEO, PureFacts. “We are very excited to be partnering with Scotiabank and Round 13 Capital as they showed tremendous flexibility in creating a win/win scenario. Having their financial support and expertise will help us service our clients around the globe, execute on our vision and fuel our continued growth plans.”
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PureFacts has won several prestigious industry awards in 2020, including being recognized amongst the world’s top 100 most innovative WealthTech companies as a WealthTech100 award winner. PureFacts was also named a Great Canadian Innovator for its AI solutions in the Financial Services category by Microsoft Canada.
“PureFacts is the market leader, with a reputation for providing exceptional software and service to its customers,” says Bruce Croxon, Co-Founder, Round 13 Capital. “We are excited to fund the next leg of growth and look forward to working closely with an exceptional management team to help achieve their goals.”
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