Vancouver-based financial technology startup Pocketed has raised C$1 million in seed-stage financing. The round was led by WUTIF Capital, with participation from Hustle Fund, Women’s Equity Lab, New Avenue Capital and other investors. Pocketed uses an intelligent matching platform and marketplace to connect businesses to grants and tax credits.
VANCOUVER, BC, October 21, 2021 — Pocketed, a rapidly growing startup that uses their intelligent matching platform and marketplace to connect businesses to billions of dollars in grants and tax credits, has raised $1M in seed funding. The new injection of capital will allow the Vancouver-based startup to expand across the USA, hire additional talent to support its growth, and attract more SMEs to both its platform and marketplace.
“Access to non-dilutive funding is critical for entrepreneurs as they build and scale their ventures,” says Brianna Blaney, CEO and Co-Founder of Pocketed. “And right now, it’s extremely difficult and time-consuming for businesses to find, apply, and secure the grant funding they desperately need. At Pocketed, we’re solving these pain points and powering entrepreneurs across North America.”
Pocketed’s one-stop-shop platform helps entrepreneurs capture their share of the $5.9B in grant funding and tax credits that are available to Canadian businesses each year. In addition to helping entrepreneurs identify relevant funding opportunities, Pocketed’s marketplace connects companies to a variety of supportive services including grant writers, financial lenders, and legal teams to ensure applications are successful.
Since launching its core product in February 2021, Pocketed has helped more than 2,000 SMEs secure over $10M in grant funding. Additionally, the company’s 100% application success rate provides businesses with the confidence and peace of mind that each application will result in funding.
The Vancouver-headquartered startup has already made deep inroads across the national tech sector, securing over 60 strategic alliances with organizations like entrepreneurship@UBC, MaRS, League of Innovators, and Accelerate Okanagan. Pocketed has also attracted over 60 vendors to its marketplace, — including Boast AI, Stratesol, and Ayming — and is developing a channel partnership with Clearco.
“At Pocketed, we’re breaking down financial barriers for all entrepreneurs,” says Dr. Aria Hahn, CTO and Co-Founder of Pocketed. “Our free and easy-to-use platform and marketplace eliminate the frustrations that businesses encounter when navigating the fragmented grant ecosystem. With this new round of funding, we’re ready to expand our reach and support SMEs all over North America.”
The round was led by WUTIF Capital, with participation from more than a dozen investors including Hustle Fund, Women’s Equity Lab and New Avenue Capital.
“As an investor, I look at the opportunity, the solution, and the team,” says Mike Voker, CEO of WUTIF Capital. “In addition to simplifying and streamlining access to non-dilutive capital, Pocketed is led by a team of tenacious entrepreneurs that are driven to succeed. We’re extremely excited about this investment and look forward to watching this company take-off.”
Pocketed helps start-ups and small businesses across North America easily access billions of dollars in grants, tax credits, and business incentives with their intelligent matching platform and managed marketplace.