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The largest financing for a woman-led Canadian digital startup, ever.

Yesterday, news broke that Brim Financial had raised $85m in Series C funding. The round was led by EDC (Export Development Canada), with support from Vistara Growth and a few existing backers.

Why do we love this?

We love this for a few reasons.

We haven't seen many large fintech announcements for starters, so it's great to see fintech making a come-back, growing rapidly, and raising money.

Another reason, this is a story of a pivot where they had an existing core technology. They were offering their own credit cards and loyalty programs, realized that a lot of other institutions like the underlying infrastructure, and from there, got them to power their credit cards and their loyalty programs.

Brim made the pivot and they've been off the races ever since.

One other reason why we love this, it's a female led company. It’s also the largest financing deal for a woman-led Canadian digital startup (woohoo).

To summarize, this is the story of a great pivot, a great female-led company making massive strides in FinTech, and that is always something to celebrate.

Why were they able to raise?

Again, a couple of things.

They were able to raise because they had solid growth, strong economics, and a strong market opportunity.

They were able to showcase a proven playbook they were investing in to grow faster.

What can we learn from this?

There’s a lot we can learn, but here are a few stand-out points:

• Always be aware of the largest opportunity. You may have something that's working, but some pivot or some change in how you operate your business can get you to a much bigger one. This helped them go from growth to epic growth.

• Lastly, always be aware of how you create value and if you're creating as much value as you can with what you have, people will notice.

Check out the latest episode of Quick Takes that just dropped, where we dive into this and similar topics

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