A Toronto-made online platform that enables companies of all sizes to raise capital “like it’s 2023” is experiencing substantial momentum.
Applying technology that “makes selling shares as easy as selling shoes,” DealMaker is on a mission to empower capital raising and equity crowdfunding—and so far succeeding.
Founded in 2018 by Bay Street legal experts Mat Goldstein and Rebecca Kacaba, the fintech ranked 6th in the Globe & Mail’s September list of Canada’s Top Growing Companies.
Earning a top-10 position on the list is no feat—in this case, a three-year revenue growth north of 5,000% did the trick for DealMaker.
The rapidly expanding fintech, now with more than 100 employees, also joined the Google Cloud Startup Program in order to access superior artificial intelligence tools.
The startup said that the “huge honour” of being selected by Google will arm the fintech “with the resources to quickly and efficiently scale and expand operations,” according to a statement.
DealMaker wants to integrate AI applications at multiple points in the capital raising process—from investor flow to shareholder management.
By integrating AI into the complex capital raise process, DealMaker—leveraging Google Cloud’s sophisticated AI technologies—can continue to “push the needle forward for capital raising and equity crowdfunding.”
Across more than one million investments processed globally, over $2 billion in capital has been raised via the DealMaker platform—and the fintech also continues to raise capital for itself.
This week, CIBC Innovation Banking announced an upsized growth capital financing. The funding “will further fuel the company’s accelerated expansion across North America,” according to Kacaba.
“The combination of CIBC Innovation Banking and Google backing our long-term plans is an exciting acceleration for us,” Kacaba, DealMaker CEO, stated.
“Their support helps us in our mission to build the most sophisticated capital markets tool on the planet,” she added, “and there is no better way to achieve this than to weave AI capabilities throughout our platform for ease of use for both investors and issuers.”
CIBC has been impressed with the fintech’s ability to scale thus far. Rob Rosen, Managing Director for the Innovation Banking arm’s Toronto office, said he is “thrilled to extend our team’s financial and advisory support” to DealMaker.
“DealMaker’s comprehensive platform creates a more equitable and modern capital raising experience, focusing intently on transparency,” he said.
CIBC Innovation Banking delivers strategic advice, cash management, and funding to innovation companies across North America and Europe at each stage of their business cycle, from start-up to IPO and beyond.