Technology

Local tech venture capitalist buys Vancouver crowdfunding startup Weeve


Fri Feb 15, 2013 10:00am PST

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

Tags: internet, Vancouver, computing and information technology, social media



Things You Might Like »

Articles

Columns

Lists & Data


Comments »


NOTE: In order to comment, you must be a registered BIV.com user and be logged into your user account. If you do not have a BIV.com account, you may register here. If you have one of the following accounts: Google, Facebook, Twitter, Yahoo, OpenID, you are also able to comment, just click "Post as" button and then log into one of these services via Disqus.

blog comments powered by Disqus

Featured Video


Popular News



Upcoming Events