Impression Ventures , a Canada-based VC firm, has announced that it has raised C$20 million to invest in early-stage financial technology companies emerging from the Canadian technology ecosystem.
According to the official release, anchor investors in Fund II include FairVentures Inc., a subsidiary of Fairfax Financial Holdings Limited, as well as family offices interested in getting involved in the early stage financial technology sector.
“This new fund builds on the work started in Impression’s first fund, which includes investments in Wealthsimple, the fastest growing online advisor in Canada, Sensibill, a provider of receipt solutions to tier 1 banks and HonkMobile, the on-demand parking payment solutions provider”, the announcement reads.
Along with the launch of the new fund, Impression also announced that it is bringing several new advisors, including Claudia Hepburn, one Canada’s Top 25 Women of Influence for her achievements in entrepreneurship and the non-profit sector; and Steve Dengler, founder of XE, the world’s trusted currency authority, used by over 250 million people per year worldwide, to its team.
In addition to the new advisors, Impression Ventures has agreed to partner with FairVentures to pursue and make investments in insurance-related opportunities.
“Impression Ventures has a strong record of finding quality early-stage financial technology companies,” said Paul Rivett, President of Fairfax. “We are very pleased to partner with Christian and his team as we continue to seek out innovative companies and technologies to support and grow the Fairfax group over the long term.”
Impression Ventures was founded in 2013 by Toronto entrepreneur and venture capitalist Christian Lassonde, who has built an entrepreneurial network connecting the Canadian technology community, Silicon Valley and investors worldwide. Christian is committed to helping Canadians fully realize their top-notch competitive potential in the 21st-century digital economy.
