Canadian wealthtech company PureFacts Financial raises $29m

PureFacts Financial Solutions, a Canada-based wealthtech solutions provider, has secured CAD 37 million ($28.69 million) in a funding round that saw the participation of Canadian Business Growth Fund (CBGF), Round13 Capital, and The Bank of Nova Scotia.

The wealthtech company plans to use the proceeds from the funding round for expediting product development and for further strategic acquisitions.

Rob Madej — Founder and CEO of PureFacts Financial Solutions said: “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.”

PureFacts Financial Solutions caters to the financial services industry by providing revenue management and insights-driven solutions for wealth accumulation and deaccumulation.

The company’s clients include wealth and asset managers, insurance companies, banks, and custodians across Canada, UK, Europe, APAC, and the US.

George Rossolatos — CEO of Canadian Business Growth Fund said: “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.”