Toronto’s not-so-quietly booming tech sector continues to level up on the world stage, creating lucrative jobs by the thousands for talented locals who, in turn, make their employers rich.
For the founders of homegrown tech firms, a successful company can equate to wealth beyond one’s wildest dreams. Just ask the people behind scrappy Toronto startups-turned-global juggernauts such as Shopify, Wattpad and WealthSimple.
It’s not easy, but a newly-updated roster from the Canadian “innovation ecosystem” and business accelerator Communitech suggests that it’s becoming more common.
A total of 17 Toronto-based tech firms are currently on track to join the billionaire’s club this year, out of 61 “high-performing tech firms tracking to $1 billion in annual revenue with growth rates that match the top one per cent of companies in the world” in Canada.
Called Team True North, Communitech built this one-of-a-kind roster to help support and celebrate these stellar Canadian companies, as well as show the world that our country is “the best place on the planet to work in tech, invest in tech and build amazing things.”
As pointed out by BetaKit, 26 new firms from across the nation were just added to Communitech’s soon-to-be-billionaires roster, six of them from right here in the 6ix.
They are:
- Borrowell: One of Canada’s largest fintech companies, Borrowell offers free credit reports and credit checks, as well as personalized tips, tools and offers to help anyone meet their financial goals.
- Brim Financial: The only fintech firm in North America licensed to issue credit cards, Brim offers “end-to-end embedded Platform as a Service” for consumers and businesses.
- Cority: A global enterprise environmental health and safety software that, according to Communitech, “gives every employee from the field to the board room the power to make a difference.”
- Koho Financial: Another big player in the fintech world, Koho’s platform allows users to complete day-to-day banking operations, while also offering up tools such as cash flow projections, group spending, insights and expense management.
- Vena Solutions: Based in Liberty Village, Vena is a large finance-led planning firm that, says Communitech, “empowers and inspires business leaders and finance and operations professionals to plan to grow.”
- Versapay: Wouldn’t you know it? Versapay is also a fintech company, specializing in accounts receivable software that uses AP and AR in the cloud to speed up payments.
These six companies join 11 in Toronto that were added in June to the roster of Canadian tech firms expected to cross the $1 billion annual revenue mark, based on their current annual revenues and growth rates.
Those companies are: Ada, Clearco, Clutch, Doxim, Ecopia, Flexiti Financial, FreshBooks, League, Ledn, StackAdapt and Voyce.
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