With the acquisition, Ownr becomes the
industry-leading platform for entrepreneurs to create and manage
their businesses
TORONTO, Sept. 30, 2020 /CNW/ - 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% 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.
About RBC
Royal Bank of Canada is a global financial institution with
a purpose-driven, principles-led approach to delivering leading
performance. Our success comes from the 86,000+ employees who bring
our vision, values and strategy to life so we can help our clients
thrive and communities prosper. As Canada's biggest bank, and one of the largest
in the world based on market capitalization, we have a diversified
business model with a focus on innovation and providing exceptional
experiences to our 17 million clients in Canada, the U.S. and 34 other countries. Learn
more at rbc.com.
We are proud to support a broad range of community initiatives
through donations, community investments and employee volunteer
activities. See how at rbc.com/community-social-impact.
About Ownr
Ownr simplifies the process of
registering or incorporating a business and makes it easy,
accessible, and affordable. By combining technology, seamless
customer service, and the resources business owners need,
Ownr enables entrepreneurs to start, manage, and grow their
business. Ownr has helped over 23,000 Canadians launch their
dreams since 2017. Ownr is operated by RBC Ventures Inc., a
subsidiary of Royal Bank of Canada. For more information, visit
www.ownr.co.
About RBC Ventures
RBC Ventures is a subsidiary of
Royal Bank of Canada that goes
beyond banking to reimagine the role we play in the lives of
consumers and businesses. We are building new ventures, acquiring
growing firms, making investments and partnering with organizations
that share our vision. For more information, visit
RBCVentures.ca.
SOURCE RBC