With the acquisition, Ownr becomes the industry-leading platform for entrepreneurs to create and manage their businesses
TORONTO, Sept. 30, 2020 /CNW/ - Ownr by RBC Ventures has acquired Founded Technologies ("Founded"), an innovative, all-in-one technology platform that has helped thousands of Canadian entrepreneurs start and grow a business. Founded provides businesses with the ability to automate sophisticated legal tasks such as incorporations, equity management, and legal agreements while saving thousands of dollars in legal fees.
"At Ownr, every decision we make is grounded in how we help small business owners start and succeed. With this acquisition, we're solidifying our current strengths in business formation while building towards our broader goals—helping entrepreneurs at every stage of their journey," said Shadi McIsaac, co-founder, Ownr. "And at a time when small businesses need digital resources and support the most, RBC Ventures is bringing together these two leading platforms to further its commitment to the small business community."
According to a recent Statistics Canada report, COVID-19 has had a significant impact on Canadian small businesses as revenues are down at least 20% in Q1 2020 compared to Q1 2019. Despite those challenges, Ownr has seen a rapid increase in entrepreneurship activity across Canada, with 100% growth in business formations since February. With this massive growth in small businesses and many Canadians starting a business for the first time, Ownr's mission to support entrepreneurs is more critical than ever.
"Navigating the entrepreneurial journey and growing a business can be challenging at the best of times, and throughout the COVID-19 pandemic, we've seen increased pressures on small business revenues and operating models," said Shane Murphy, co-founder, Founded. "By bringing Ownr and Founded together, we will provide additional tools to ease the pain and burden on small business owners, and offer more solutions to allow them to focus on what matters the most—growing their business."
With this acquisition, Ownr, which already offers best-in-class tools to register a business and grow a brand, quickly becomes the go-to solution for small business owners across Canada. Through this and other initiatives like Canada Starts and Ownr Grants, Ownr is reaffirming its mission to help grow the small business community in Canada.
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 86,000+ employees who bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 34 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.
Ownr simplifies the process of registering or incorporating a business and makes it easy, accessible, and affordable. By combining technology, seamless customer service, and the resources business owners need, Ownr enables entrepreneurs to start, manage, and grow their business. Ownr has helped over 23,000 Canadians launch their dreams since 2017. Ownr is operated by RBC Ventures Inc., a subsidiary of Royal Bank of Canada. For more information, visit www.ownr.co.
About RBC Ventures
RBC Ventures is a subsidiary of Royal Bank of Canada that goes beyond banking to reimagine the role we play in the lives of consumers and businesses. We are building new ventures, acquiring growing firms, making investments and partnering with organizations that share our vision. For more information, visit RBCVentures.ca.