Canadian Manufacturing

RBC Ventures’ Ownr acquires tech business Founded Technologies

Ownr was founded in 2017 in a bid to simplify the process of registering or incorporating a business

September 30, 2020  The Canadian Press

TORONTO — RBC Ventures business Ownr says it has acquired Founded Technologies.

Ownr was founded in 2017 in a bid to simplify the process of registering or incorporating a business, while Founded automates sophisticated legal tasks.

RBC spokesman Corey Black says that RBC Ventures will not be sharing the terms or value of the acquisition.

The companies, which are both based in Toronto, say the partnership will help Canadian entrepreneurs more quickly register and grow brands.

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They say their services are seeing high demand during the COVID-19 pandemic, despite Statistics Canada reporting small business revenues were down at least 20% in the first quarter of the year when compared with 2020.

Ownr says many Canadians are using the health crisis as an opportunity to start a business for the first time and it has seen a 100% increase in businesses being created since February.