Aug. 29, 2016Canalyst, an equity research tool provider for institutional finance professionals, announced today the closing of its oversubscribed $2.7 million seed financing led by Vanedge Capital. Canalyst will use the funding to expand its coverage universe and platform capabilities.
“We’re absolutely thrilled to be working with Vanedge,” said Damir Hot, CEO of Canalyst. “In Vanedge, we have a partner who appreciates the magnitude of the opportunity in institutional-focused fintech, and shares our vision for modernizing the equity research function. Plus, they have a fantastic track record of enabling early-stage disruptive technologies to scale and expand into new markets.”
The Vanedge-led investment enables Canalyst to accelerate its entry into the Canadian and US markets while continuing to invest in cloud-based product R&D. This is Vanedge’s second fintech investment, with payment analytics company Control coming on last year.
“The brokerage industry has traditionally been a key source of financial analysis for investors,” noted Paul Lee, CFA, Managing Partner of Vanedge Capital. “However, the industry today is under tremendous pressure, trading revenues have plummeted, and forward-looking analysis is available on an ever-shrinking coverage universe. Investors are looking for quality independent research on the full range of public equities so that they can compare, contrast, perform scenario analysis, and affect investment strategies accordingly. We believe Canalyst can provide the tools and forward-looking financial models that these investors need. We are excited by what has been accomplished in Canada so far and encouraged by the progress toward their US product launch this fall.
Canalyst’s first product tackles the unstructured data of Canadian public company filings, transforming it into user-friendly, working models accessible through a Software-as-a-Service subscription. Its commitment to accuracy has helped Canalyst gain traction quickly since the company’s founding in 2015, empowering buyside and sellside firms to adapt to these recent changes in the industry.
“Canalyst has saved our investment team many hours in critical situations by allowing us to focus on investment strategies and themes rather than building spreadsheets,” Dan Lloyd, Portfolio Manager of Sui Generis Investment Partners. “Once in the stock analysis stage of our process, we confidently rely on Canalyst models; they are exceptionally detailed and intuitive – a very unique combination.”
About Vanedge Capital
Vanedge Capital is a Vancouver, Canada based venture capital fund focused on investments in enterprise software, IT security, and digital media businesses. The fund managers have built and led world-class companies using a unique combination of operating leadership and management; subject matter expertise; relationships with technology, creative, and management talent; and a proven ability to pick hits to generate out-sized returns.
For more information, visit www.vanedgecapital.com.
Based in downtown Vancouver, Canada, Canalyst is a fast-growing fintech company serving both the sellside and buyside of the financial industry. Their equity research platform helps analysts and portfolio managers save time in their research, efficiently ramp up and expand coverage, and generate better investment ideas.
Visit www.canalyst.com for a free trial or to apply to join our growing team!
For further information: Media Contact: Ashley Hargreaves, +1 604 336 5750, firstname.lastname@example.org