CapIntel, a Toronto, Canada-based financial technology company, raised $11M in Series A funding.
The round was led by FinTech Collective, with participation from Fengate Asset Management on behalf of its investor, the LiUNA Pension Fund of Central and Eastern Canada (LPFCEC).
The company intends to use the funds to further accelerate growth and expand its business reach.
Led by CEO James Rockwood and Chief Technology Officer Max Moreau,, CapIntel is a financial technology company developing web-based applications for financial professionals. Its sales platform helps financial advisors provide better service to their clients so they can get a better understanding of their investments. It is used by more than 10,000 advisors serving more than two million households, including three of the top five Big Banks in Canada.
Since launching its platform in 2019, the company experienced nearly 800 percent revenue growth in 2021, following a 640 percent growth in 2020. Now, the team plans to hire at least 150 new team members over the next two years, focused on building out the sales and product teams after the recent expansion into the US market.