Montreal’s Inovia Capital led the round in the Calgary-based company, which claims its AI-driven software is more empathetic (and therefore more successful) in identifying and recovering debt from at-risk customers than the call-centre approach. Other investors included Impression Ventures, Ignition Capital and BDC Capital’s Women in Technology Fund. (The Logic)

Talking point: “Our platform enables a better engagement strategy between companies and the at-risk population in order to cure whatever’s causing them to be at risk. The point isn’t to collect every last dollar,” Symend CEO Hanif Joshaghani told The Logic. “We’re dealing with very large and sophisticated clients who are dealing with millions of customers. On average, we’re generating a more than 10x return a year for our customers.”