Debt Financing Funded Startups in Canada
Among the 35 Canada-based debt-financing rounds shown, the largest disclosed amount is Amp Solar Group’s $155M on 2022-08-26, which dwarfs the rest: the ne…
Among the 35 Canada-based debt-financing rounds shown, the largest disclosed amount is Amp Solar Group’s $155M on 2022-08-26, which dwarfs the rest: the next-largest disclosed amounts are CarbonFree Technology’s $360M (2022-08-11) and Flexiti’s $414M (2021-12-10), both larger than Amp Solar, and the bulk of other disclosed rounds fall in the $1M–$25M band (for example, Hydrostor $25M on 2022-04-19; Psygen Labs $6M on 2021-08-05). Geographic concentration is visible in Ontario and Quebec: Toronto appears repeatedly (e.g., FreshBooks $100M on 2022-08-03; CarbonFree Technology $360M on 2022-08-11; Marble Financial $10M on 2021-07-26), while Quebec cities like Montréal and Quebec City recur (e.g., Enerkem $155M on 2022-04-06; Biotwin $360K on 2022-10-11). The temporal window runs from 2021-07-12 (OceanSync, $100K) to 2022-10-18 (Siempre Spirits, $550K), and multiple rounds cluster in mid-2022—especially 2022-08 (e.g., FreshBooks, CarbonFree Technology, Clutch $150M on 2022-05-10 is earlier, and QuadFi $101M on 2022-04-20).
Most recent rounds
35 shownRelated listings
Frequently asked
What are the size outliers in these Canadian debt rounds, and how extreme are they versus the typical disclosed range?
The top disclosed round is Flexiti at $414M on 2021-12-10; CarbonFree Technology follows at $360M on 2022-08-11. By contrast, many disclosed rounds are small-to-mid single digits or tens of millions—e.g., Siempre Spirits $550K (2022-10-18) and Hydrostor $25M (2022-04-19)—so the largest deals stand out by scale relative to the common $1M–$25M cluster.
Which provinces show the heaviest concentration across the listed rounds?
Ontario and Quebec dominate the geography. Ontario repeats with Toronto-area companies including FreshBooks ($100M, 2022-08-03), CarbonFree Technology ($360M, 2022-08-11), Corl ($20M, 2022-03-14), and Marble Financial ($10M, 2021-07-26), while Quebec also recurs via Montréal and surrounding areas such as Enerkem ($155M, 2022-04-06), Cannara Biotech ($22M, 2021-12-01), and Biotwin ($360K, 2022-10-11).
How much of the activity clusters in a narrow time window near mid-2022?
There’s a clear mid-2022 concentration: multiple rounds land in August 2022, including CarbonFree Technology ($360M, 2022-08-11), FreshBooks ($100M, 2022-08-03), and Amp Solar Group ($155M, 2022-08-26). The list spans 2021-07-12 to 2022-10-18, but August 2022 is one of the densest pockets in the rows shown.
Are there repeated sectors that suggest where debt financing was most commonly applied?
Energy and Financial Services each appear multiple times, suggesting recurring sector focus within debt rounds. Energy examples include e-Zinc ($7M, 2022-10-12), Renewable U Energy ($5M, 2022-10-04), Hydrostor ($25M, 2022-04-19), and Enerkem ($155M, 2022-04-06), while Financial Services shows up with FreshBooks ($100M, 2022-08-03), Flexiti ($414M, 2021-12-10), and Corl ($20M, 2022-03-14).
Which entries use undisclosed amounts, and do they affect the interpretation of “largest” and “smallest”?
Five rows show “undisclosed” amounts: Planswell (2022-07-05), POTLOC (2022-06-23), MyStudia (2022-04-15), and MyStudia’s undisclosed is separate from the others; there are also undisclosed entries at 2022-07-05 and 2022-06-23, plus MyStudia (2022-04-15). Because those amounts are not disclosed, comparisons for largest/smallest should rely on disclosed values—e.g., OceanSync’s $100K (2021-07-12) is the smallest disclosed, while Flexiti’s $414M (2021-12-10) is the largest disclosed.
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