Yield Exchange Plans National Expansion With $700K Pre-Seed Funding
Summary
A Vancouver-based fintech startup transforming how wholesale treasury is invested, is set to go national after over-subscribing in its pre-seed funding round.Vancouver , April 18, 2023 (GLOBE NEWSWIRE) -- Vancouver, B.C. April 18, 2023: Yield Exchange, a Vancouver-based fintech startup that is transforming the $750B Canadian wholesale GIC investment industry, has plans to expand nationally, after raising $700K CDN, in its pre-seed round. Traditionally this has been a time-consuming process that involves treasurers reaching out manually to financial institutions in hopes of completing due diligence and finding competitive rates. By streamlining the process through a digitized bidding system, Yield Exchange is making it easier for these entities to access diverse investment options that can help them grow their funds. Despite raising its pre-seed during an economic downturn, Yield Exchange oversubscribed, as it was able to show significant early traction and find investors who understood the space and could offer strategic value at favourable terms.