DealPoint’s Sandi Gilbert said she was excited to see how their big fintech award would help catapult their company forward.
They took the top prize of $125,000 in the second annual Digital Commerce Calgary Fintech Awards Wednesday night at Platform Calgary. Blossom – a social app for investors – and Propra – an autonomous property management tool – each took home prizes of $100,000. Elev won $50,000 as a Community Builder Award for their tool that streamlines off-campus living for students and landlords.
DealPoint is a platform for companies, venture funds, angel networks, investment deals and securities lawyers to help digitize investor onboarding and execution. The cash win is non-dilutive funds that can go straight into building the company.
“I’m really excited what this means for the team to actually take it to the next level,” Gilbert told LWC.
“The exposure has been fantastic. The team’s really benefited from a lot of the workshops that we went through, and I’m just really excited about what the future looks like.”
Gilbert said that there’s a $135 billion private capital market in Canada. She said that compliance, in a broad sense, is key. Making it easier for people to access capital was the problem they were trying to solve with DealPoint.
“It’s kind of an over-regulated, burdensome environment to work in,” Gilbert said.
“So, if you make mistakes, it costs fines and penalties that happen so really it’s about making it easy for people to actually comply.”
More than just a cash award
Digital Commerce Group CEO Jeff Smith said they were proud to be a part of Calgary’s evolution in digital financial technology.
“The Digital Commerce Calgary Fintech Award embodies our belief in nurturing fintech disruptors. It’s not only about recognizing innovation but also about providing a springboard for growth through mentorship and workshops,” said Smith.
It was an interesting experience for Gilbert herself, as she runs a fund in Calgary called InterGen. She said she’s often involved in matching people to help the entrepreneurs.
“For me to be on the other side of the stage was a little different today. I’m not usually the one pitching. I’m usually the one that gets pitched to.”
There were 150 fintech startups from across Canada that applied for the award. Twenty-five of those were selected to participate in an intensive three-months of workshops and mentoring sessions.
That group was narrowed down to 12 in August.
“Calgary’s economy has been built on local business leaders reinvesting in the community,” said Terry Rock, President and CEO of Platform Calgary.
“The results in this space are already paying dividends in the local economy.”
The Digital Commerce Calgary Fintech Award is a joint initiative of the Digital Commerce Group and Platform Calgary.
- with files from Aryn Toombs