On May 7, 2020, Symend completed its $73 million Series B financing round led by Inovia Capital’s growth fund. The financing round is one of the largest Series B rounds in recent Alberta history. The funding will be put towards Symend’s customer engagement platform, designed to better connect with financially at risk customers. Symend will also use the funding to expand into new verticals, new geographies and to grow the size of its team across Canada and the United States.
Symend is a Calgary based growth stage firm specialized in transforming the debt recovery industry by combining behavioral science and analytics to reduce consumer churn, improve recovery rates and deliver efficiencies for telecommunications companies, banks and utilities companies.
Inovia Capital is an early through growth stage venture capital firm focused on building global technology companies.
Osler, Hoskin & Harcourt LLP advised Symend with a team consisting of Chad Bayne, Michael Grantmyre, Justin Dharamdial, Alana McElhinney and Jeremy Lin (Emerging and High Growth Companies).