The past several years have been good to the global startup economy. Following the last major recession in North America, venture capital ramped up through the 2010s. While the pandemic caused an abrupt halt, the momentum was not dispersed; it lingered at the door until the floodgates opened once again, and as a result 2021 set many records for startup financing in Canada.
The year included many sizeable rounds, such as $61 million for Propel Holdings; $64 million for Neo Financial; $44 million for Properly; $72 million for Bench; and nearly $300 million for Fraction Technologies in Vancouver.
We could go on.
This year, a different picture is being painted, especially as we move into the second half of the year. Large drips of 2021’s energy still poured into the first quarter of this year. But you could sense the shift in market because founders were suddenly very grateful and quite proud to be raising any capital at all with such a downturn looming.
In the middle of 2022, the bigger news became layoffs, with Canadian tech darlings such as the Wealthsimple having to trim some of their fat. Some, like Thinkific, were hit particularly hard, laying off up to 20% of their total workforce. Others, such as Hootsuite, have thus far been spared from layoffs, though are exercising caution nonetheless.
Not every company is in the same situation. While some have entered survival mode, others are doing fine—quite well, actually.
Let’s take a look at some actively hiring tech firms in Canada.
APOLLO Insurance
The Vancouver-based insur-tech firm runs policy purchases through its APOLLO Exchange, the company’s embedded proprietary platform.
“Our digital-forward approach eliminates traditional paper-based processes by leveraging extensive data and intelligent algorithms to quote, collect payment, and issue policies—all without human intervention,” explains Chloe Lyons, Director of Recruitment for APOLLO.
Lyons told Tech Talent Canada that this digital-forward approach is “fast, easy, and redefining insurance distribution.” It’s a transformation that is sweeping Canada’s entire financial technology sector.
The growing APOLLO is hiring for several positions, including software engineers and developers to help continue improving the technology behind the business. “We have several open roles,” confirms Lyons. “We are hoping to connect with top talent to join our team.”
In July, Tech Talent Canada will host its next Job Fair. These seasonal job fairs offer prime opportunities for Canadians to connect with some of the country’s hottest hiring startups and forge epic careers. To find the best people for the job, APOLLO makes use of Tech Talent Canada’s Job Fairs.
“We have attended Tech Talent Canada events in the past and it’s always been a great opportunity to share what we do [and] how we are digitizing insurance,” said Lyons, who noted that the events are full of “individuals passionate about disruption and tech.”
Helcim
Calgary’s Helcim, a payments company that powers small business, closed its Series A funding round in March—excellent timing!
The company will invest in growing its team across the organization, adding more than 150 staff members over the next two years, including developers, and salespeople.
“We built Helcim to provide the payment tools that allow small businesses to thrive by combining our payments-first approach, accessible and easy-to-use software, alongside our knowledgeable and helpful customer service,” said Nic Beique, CEO of Helcim.
Helcim is proudly participating in July’s Tech Talent Canada Job Fair.
RenoRun
CEO Eamonn O’Rourke cofounded RenoRun 2017 and since then it sure has been on a run.
The Montreal-born startup is the most-funded property technology company in Canada, having secured a total of more than $200 million over the past five years.
The company is hiring for a variety of roles, including tech-based roles, in Montreal, Toronto, and the US.
Thomson Reuters
The Canadian multinational media conglomerate announced this month that it is expanding its Work from Anywhere policy. The Toronto-born giant also unveiled a new sabbatical program arriving this fall.
“Throughout the pandemic, we saw survey after survey showing employees across sectors feeling burned out and striving for greater balance and flexibility,” explains Chief People Officer Mary Alice Vuicic. She says that Thomson Reuters “has always been a leader in work-life balance,” so the company felt compelled to do more for workers.
The company earns frequent accolades as an employer. For example, Thomson Reuters Canada has been recognized as one of the Top 100 Employers in Canada by The Globe and Mail for 13 years in a row. Glassdoor named TR a Best Place to Work in Canada for 2022, and LinkedIn also recently recognized TR as a top employer.
Within Canada, the company currently employees roughly 1,300 people across multiple offices, including one in Montreal and a major base in Toronto. Overall, Thomson Reuters operates several spaces in the region, including the Technology Centre and TR Labs, both of which are located in Toronto.
Thomson Reuters is actively hiring for more than 100 positions in Canada, including dozens of technology-related roles. You can find roles from Thomson Reuters and other companies hiring tech talent in Canada on our Job Board.
Nesto
Founded in 2018, Nesto is an online brokerage platform that streamlines the process of securing a mortgage.
Last year the Montreal-based fintech startup raised a $76 million Series B funding round led by Michael Rowell and Michael Paulus, the entrepreneurs behind Assurance IQ, which was sold to Prudential Financial in 2019. The company stated it would use some of the funds “to grow its experienced team of mortgage professionals.”
With a total of $108 million combined capital raised, Nesto is the fifth most-funded proptech startup in Canada.
Flexiti Financial
Toronto-based Flexiti looks and feels like a startup because the vast majority of its growth came within the last couple years, despite its founding back in 2013.
“Taking seven years to reach our first $1 billion in sales volume and only eleven months to surpass the $2 billion mark is a testament to the need for payment choice when customers make purchases to fit their lifestyle and budget,” stated Peter Kalen, CEO of Flexiti, in June.
In 2021, Flexiti ranked on Deloitte’s Canada’s Technology Fast 50, on Deloitte’s North American Technology Fast 500, and on The Globe and Mail’s Canada’s Top Growing Companies. Most recently the company made Communitech’s inaugural Team True North list of rapidly growing Canadian tech companies.
Flexiti is actively hiring for a number of positions in Canada.
Royal Bank of Canada
An incumbent of banking in Canada, RBC is one of Canada’s “Big Five” banks. The innovation from fintech startups across the country has spurred RBC and co. to deliver better products and service for the modern ecosystem.
RBC is one of Canada’s largest and oldest companies, making it a stable choice even in rough seas.
The banking titan is hiring at our upcoming Job Fair.
