Ownr by RBC Ventures has acquired Founded Technologies (“Founded”), an innovative, all-in-one technology platform that has helped thousands of Canadian entrepreneurs start and grow a business. Founded provides businesses with the ability to automate sophisticated legal tasks such as incorporations, equity management, and legal agreements while saving thousands of dollars in legal fees.
“At Ownr, every decision we make is grounded in how we help small business owners start and succeed. With this acquisition, we’re solidifying our current strengths in business formation while building towards our broader goals—helping entrepreneurs at every stage of their journey,” said Shadi McIsaac, co-founder, Ownr. “And at a time when small businesses need digital resources and support the most, RBC Ventures is bringing together these two leading platforms to further its commitment to the small business community.”
According to a recent Statistics Canada report, COVID-19 has had a significant impact on Canadian small businesses as revenues are down at least 20% in Q1 2020 compared to Q1 2019. Despite those challenges, Ownr has seen a rapid increase in entrepreneurship activity across Canada, with 100 per cent growth in business formations since February. With this massive growth in small businesses and many Canadians starting a business for the first time, Ownr’s mission to support entrepreneurs is more critical than ever.
“Navigating the entrepreneurial journey and growing a business can be challenging at the best of times, and throughout the COVID-19 pandemic, we’ve seen increased pressures on small business revenues and operating models,” said Shane Murphy, co-founder, Founded. “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.”
With this acquisition, Ownr, which already offers best-in-class tools to register a business and grow a brand, quickly becomes the go-to solution for small business owners across Canada. Through this and other initiatives like Canada Starts and Ownr Grants, Ownr is reaffirming its mission to help grow the small business community in Canada.
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Communitech is a partner of Startup HERE Toronto. This article originally appeared on their site.