Welcome to this week's Sunday Briefing. In this edition:
A spinout raises millions for digital currency work
Proptech startups take the stage
Local innovation gets a Nobel nod
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Andrew Chau, Neo co-founder & CEO. Photo: Neo Financial
Calgary's Neo Financial grows Toronto office
Neo Financial is expanding in Toronto. The Calgary fintech has tripled its Toronto team in less than a year and is moving into bigger offices in the financial district to keep up with growth. Co-founder Jeff Adamson says the company wants access to Toronto's tech and finance talent, particularly for work in credit, AI, and payments.
The company has raised over $650 million since launching in 2019 and now has more than one million customers. Neo offers credit cards, savings accounts, investing, and mortgages—products the company positions as alternatives to traditional banking. CEO Andrew Chau says the Toronto expansion helps Neo tap into a deeper talent pool as customers look for better value from their financial products.
Neo operates out of Calgary, Winnipeg, and Toronto. Beyond consumer banking, the company also provides financial tools for over 10,000 business partners across Canada. The Toronto office is expected to keep growing through 2026.
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🤝 Funding, Deals, and Partnerships
Paytrie spinout Loon raises $3 million to oversee Canadian dollar-backed stablecoin. Led by former employees at Toronto’s Paytrie, the newly-formed company has been spun up to focus exclusively on the growth of Paytrie’s CADC stablecoin, which Loon is acquiring. Betakit
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📰 Need To Know
Platform Calgary to host proptech showcase ahead of real estate forum. Attendees will also see five Proptech startups pitch their cutting-edge solutions live on stage before wrapping up with a networking reception for founders, investors, and real estate professionals. Calgary.Tech
Nobel Prize nods to Alberta innovation in carbon capture. To the scientists in the University of Calgary chemistry lab who have spent more than a decade working on it, this white powder is nothing short of amazing. BOE Report
Ten local startups give their best pitch at Calgary Innovation Week Launch Party. Calgary Innovation Week, slated for November 3rd through 6th, offers a front-row seat to local people and companies showcasing breakthrough technologies and solutions. Calgary.Tech