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Boston-based Mendoza Ventures led the round along with San Francisco-based Breakaway Growth. Several Canadian investors, including Inovia Capital and the Business Development Bank of Canada, also participated. (The Logic)

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Talking point: Senso helps financial institutions manage their retail portfolios, with a particular focus on the U.S. market. The company is looking to more than double its team of 25 over the next year and a half, with its sales team growing in the U.S. while research and development remains at its Toronto and Kitchener-Waterloo offices. Senso is the latest in a string of Canadian fintechs that are looking south in a bid to expand. Earlier this week, Nest Wealth raised up to $50 million, which it plans to use for a US expansion. In January, The Logic reported that d1g1t was looking to the U.S. after passing $50 billion in assets.

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Luge Capital, Panache Ventures and Intact Ventures also invested in Flinks, which is looking to open a U.S. office with the funds and double its 65-person staff in the next few months. (Betakit)

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Talking point: Flinks is also planning to use the funds for a new wealth management product. That’s a crowded, but lucrative, area of focus for a number of Canadian fintechs. In January, The Logic reported that Toronto fintech d1g1t was expanding to the U.S. after passing $50 billion in assets under management in part by partnering with large financial institutions. Flinks is taking a similar approach, and has relationships with several members of the Big Five banks in addition to projects it’s working on with National Bank. Flinks’s raise is the latest example of how fintechs continue to attract investors despite the pandemic. In London, for example, 39 per cent of all tech investment in 2020 so far went to fintechs.

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The firm, which creates financial models for fund managers, raised the Series B money from a group including ScaleUp Ventures and Vanedge Capital. (The Logic)

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Talking point: Canalyst is one of a growing number of firms serving the lucrative investment-adviser industry, which is under pressure from the rise of free or low-fee robo-advisers and index funds. Some of the world’s largest financial institutions—including JPMorgan Chase, Fidelity Investments, the Vanguard Group, TD Ameritrade, Charles Schwab and Interactive Brokers—are all offering free trading options. Earlier this month, The Logic broke the news that Toronto-based d1g1t, which provides a similar service, had surpassed $50 billion in assets under management. D1g1t’s pitch to advisers is it provides better data so they can beat the market and justify their fees. Canalyst has a team of 60 equity researchers that replaces work that advisers typically do—like checking regulatory filings for companies—thereby giving them more time to talk to customers.

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Power subsidiary Sagard Holdings is investing US$75 million in the fund, called Sagard Healthcare Royalty Partners. The firm declined to disclose who any of the other investors are. The fund will invest in biopharmaceutical firms and seek to make money off royalties from medical devices and pharmaceuticals. (The Logic)

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Talking point: This is part of a broader diversification strategy by Power that includes investments in many of the country’s most prominent fintechs. Last month, Power co-CEOs Paul Desmarais Jr. and André Desmarais announced they were stepping down, and the firm is looking at removing its subsidiary, Power Financial, from the TSX. Power will have plenty of competition in the healthtech space. In November 2019, Montreal-based Amplitude Ventures announced a $200-million fund. The federal government is also investing $20 million in the space. Sagard Healthcare Royalty Partners has made one investment so far at just US$31 million, so it’s got plenty of money still at play, and is also keeping the fund open through 2020 for any new investors that want to participate.