Ownr declined to disclose the purchase price of the acquisition, but told BetaKit Founded is also now 100 percent owned by RBC Ventures. Following the deal, Founded’s technology and platform will be merged with Ownr to expand Ownr’s offering. Founded’s entire team, including its leadership, has joined RBC Ventures and will be working alongside the existing Ownr team.
“By bringing Ownr and Founded together, we will provide additional tools to ease the pain and burden on small business owners.”
Founded is a legal automation platform targeted toward businesses and lawyers, that automates routine legal tasks using technology with an aim to provide a collaborative, transparent, and intuitive legal experience. The startup helps automate tasks such as incorporations, equity management, and legal agreements.
RBC Ventures launched Ownr in 2017. Ownr aims to help users determine what business structure works best for them and then helps customers incorporate and register their business at what it claims is a fraction of the cost of hiring a lawyer. Ownr claims it has helped start over 20,000 businesses in Canada.
“By bringing Ownr and Founded together, we will provide additional tools to ease the pain and burden on small business owners, and offer more solutions to allow them to focus on what matters the most—growing their business,” said Shane Murphy, co-founder of Founded.
The news follows shortly after Ownr launched a fund aimed to help small businesses alongside Shopify, Moneris Solutions, and Staples.
StartUp HERE Toronto is a publishing partner of Betakit and this article was originally published on their site.