August 2, 2019 /BetaKit/ – Owl.co, a software company that helps banks and insurers collect and encrypt customer data, has raised its first round of funding, securing $2.6 million CAD.
The seed round was led by two FinTech-focused firms, Luge Capital and Impression Ventures, and saw participation from San Francisco-based Sway Ventures, Inovia Capital, Plug and Play, and Builders VC, a US-based firm focused on “modernizing antiquated industries.”
Started in 2018, Owl has found quick success having developed AI-enabled end-to-end encrypted platform that help banks and insurance companies handle critical processes around customer data collection. Since launching in mid-2018, the startup, which began out of Vancouver, has participated in Montreal’s Holt FinTech Accelerator, opened a Toronto office, won an award, and with its new capital is ready to expand globally.
Co-founder and chief operating officer of Owl Vahid Mirjalili told BetaKit that a turning point for the company was being named one of the winners of Finance Montréal’s FinTech Startup Pitch Contest (and receiving $25,000), in October.