Canalyst, a Vancouver, British Columbia, Canada-based fintech company, closed a $20m Series B financing round.
The round, which brought total funding to $28m, was led by a strategic investor with participation from ScaleUP Ventures and existing investors including Vanedge Capital.
The company intends to use the funds to expand its investment in talent, with particular focus on product enhancements and client service.
Led by Damir Hot, CEO, Canalyst is an independent provider of fundamental models to institutional investors. It enables investors to implement new efficiency tools into their workflow and uncover more investment opportunities by ramping up and expanding coverage based on its platform, which provides access to structured fundamental data via a database of complete, company-specific forecast models on 4,000+ North American listed securities.
The company has more than 100 employees in Vancouver and New York City, and serves over 400 clients — asset managers, hedge funds, and family offices.