Vendasta Technologies raises C$20m in funding for acquisitions

• Vendasta also announced that a C$52.5 million debenture has been converted to equity
• The funds raised will provide the company with a clean capital structure and help fuel future strategic acquisitions
• In 2021, Vendasta secured C$119.5 million in financing led by Lugard Road Capital

Vendasta Technologies, a Saskatoon-based software platform for channel partners providing digital solutions to small businesses, has raised C$20 million in financing.

Foundry led the financing, with co-founder and partner Brad Feld joining the company’s board of directors. Vendasta also announced that a C$52.5 million debenture has been converted to equity.

The funds raised will provide Vendasta with a clean capital structure and help fuel future strategic acquisitions.

Over the past two years, the company has acquired CalendarHero, MatchCraft, Yesware and Broadly.

Brendan King, Vendasta’s founder and CEO, said in a statement, “Vendasta is the industry leading platform for channel partners to market, sell, bill, fulfill and deliver digital solutions to SMBs. Today, over 200K small and medium sized businesses are serviced through Vendasta’s platform. These new funds are earmarked for strategic acquisitions to achieve our mission.”

In 2021, Vendasta secured C$119.5 million in financing led by Lugard Road Capital, with participation from Nicola Wealth, Canadian Business Growth Fund and other investors.