WealthTech venture PureFacts Financial Solutions has picked up a CAD$20m ($15.39m) investment from Scotiabank and Round 13 Capital.
The company is a provider of fees, reporting and AI-powered predictive analytics solutions.
PureFacts will use the money to fuel its global growth plans and fund potential acquisitions, including the recently announced acquisition of Quartal Financial Solutions.
The financing will also be used to 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.
PureFact also celebrated that it had achieved a 152% increase in year over year revenue when considering its recent acquisitions and aggressive organic growth.
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