Inovia Capital, a return Symend investor, led the fundraising for the firm, while the Business Development Bank of Canada and Export Development Canada also participated. Symend offers a platform that interprets customer activity to help companies retrieve overdue payments. (The Logic) 

Talking point: Symend said Thursday it expects to serve more than 40 million consumers this year through its client companies, and sees room for growth as the economic downturn puts pressure on households. “As delinquency rates rise and customers increasingly grapple with digital fatigue, more businesses require a solution, like Symend, to recover revenue, reduce operating expenses and drive client retention,” Symend CEO Hanif Joshaghani said in a statement. But the company also said Thursday it cut 13 per cent of staff, bringing its workforce down to 234, according to The Globe and Mail. The move comes as companies across the tech ecosystem pare back their workforces amid economic volatility and high inflation, which have coincided with a steep reduction in tech valuations.