Local tech venture capitalist buys Vancouver crowdfunding startup Weeve

A Vancouver startup that developed a platform that allows charities to harness the power of crowdfunding is being acquired by a new tech venture capital ...

A Vancouver startup that developed a platform that allows charities to harness the power of crowdfunding is being acquired by a new tech venture capital firm.

LX Ventures Inc. (TSX-V:LXV) – founded by Vancouver tech venture capitalist Mike Edwards – is buying Weeve.it for an undisclosed amount.

Launched in July 2012, the startup developed a crowdfunding platform specific to charities.

At the time the company launched, 23-year-old co-founder and COO Trevor Loke told Business in Vancouver he wasn’t sure how the company might monetize Weeve.

But it now looks like LX Ventures has plans for the company. It plans to use the Weeve platform and  “repurpose it for use in other industries that are ready for disruption.”

“Weeve’s crowdfunding technology is a natural fit for our FinTech market vertical,” said Ray Walia, COO of LX Ventures.

“Together, we will internally innovate and deliver revolutionary funding solutions across multiple market sectors.”

nbennett@biv.com

@nbennett_biv

comments powered by Disqus

Also Read

More From Innovation

Fipke moved to make donation after long-time friend Bill Bennett diagnosed with the disease

Read Article

Rogers Communication has hired a Vancouver company to develop an app fans can use as they watch games — a trend other local developers are ...

Read Article

Innovation

How I Did It: Sheila Bouman

By Sept. 30, 2014, midnight

Former teacher successfully moved from the classroom to the boardroom

Read Article

Innovation

Hootsuite capital boosted

By Sept. 26, 2014, 3:32 p.m.

Tyler Orton talks on Global BC about the boost to Hootsuite's capital ahead of a possible IPO for the social media company 

Read Article

Subscribe to our mailing lists

* indicates required

Newsletters

×