Successful Startups in Canada; The Best Startups of 2024

Canada is one of the world’s leading countries economically and places a special emphasis on the growth and prosperity of innovative startups. In fact, attracting creative and new startups can be considered one of the most important immigration programs of this country for economic growth. Every year, Canada attracts more entrepreneurs and investors in this field. Today, Canada ranks fourth among the best countries in the world for supporting new startups. In recent years, numerous startups have been supported by investment organizations in this country, and some of them have achieved significant success. If you also have a creative business idea in mind and intend to start your own startup in Canada, join us in this ExpertUP article. Starting a startup and obtaining a Canadian startup visa can be a suitable method for obtaining permanent residency in this country. We will introduce some of the successful startups in Canada below.

Successful Startups in Canada and Facts About Them

Canada’s startup immigration program has made it possible for people worldwide to present a creative business plan, obtain permanent residency, and execute their business plan without initial capital. These two factors together have led to many startups being launched in this country in recent years. Interestingly, more than 3000 different startups have been launched in Canada, most of which are in the fields of space technology and clean water. However, only 10% of the startups launched can achieve success. Below, we will review some of the successful startups in Canada in recent years.

ApplyBoard Startup

ApplyBoard can be considered one of the most successful startups in the world in recent years, launched in Canada. This popular startup is designed and executed based on artificial intelligence. The aim of launching this startup was to help students worldwide connect with various educational institutions. Currently, more than 200,000 students are registered on this platform. In other words, ApplyBoard can be considered the best platform available for connecting with various educational institutions worldwide, enabling many individuals to study in other countries. ApplyBoard has specific features, some of which are:

Startup Location: Waterloo
Project Launch Year: 2015
Founders: Martin Basiri, Massi Basiri, Meti Basiri
Number of Active Personnel in 2024: About 1000 people

Nesto Startup

When talking about successful Canadian startups, Nesto should not be forgotten. This startup was launched in 2018 with the aim of operating in the FinTech market. Nesto can be considered an online mortgage review platform. In other words, this platform gathers information on various types of available mortgages and provides it to its users. Thus, individuals can use Nesto to review various available mortgages and apply for the best option. Nesto truly saves time and provides the needed services to the user in seconds. Therefore, it is no surprise that Nesto is listed among the successful Canadian startups in recent years. Some of the most important features of this popular and successful startup are:

Startup Location: Montreal
Founders: Chase Belair, Damien Charbonneau, Karim Benabdallah
Number of Active Personnel in 2024: 100 to 250 people
Investment Amount: 151.4 million dollars

Maple Startup

Maple is another successful Canadian startup in recent years, operating in the medical and healthcare field. This popular platform holds a special place in the lives of many people today. The ability to access specialist doctors without the need for an appointment and long wait times is the reason for Maple’s popularity. Individuals can use this specialized platform to access a specialist doctor at any time and place and resolve their issues as quickly as possible. Interestingly, this startup has raised 71.7 million dollars through four funding rounds since its launch. Some of the most important features of the Maple startup are:

Startup Location: Toronto
Project Launch Year: 2015
Founders: Brett Belchetz, Roxana Zaman, Stuart Starr
Number of Active Personnel in 2024: 50 to 100 people

Borrowell Startup

The last successful and popular startup we will introduce in this list is Borrowell. Borrowell can be considered one of the successful Canadian startups designed and executed based on artificial intelligence. This startup operates in the financial field and helps individuals meet their financial needs in the best possible way. Users can use Borrowell to meet their needs in personal loans, credit cards, bank accounts, and similar areas.

Interestingly, this platform assigns points to users in exchange for using its services. Users can then take advantage of various benefits based on their points on the platform. For example, more points can mean more discounts on insurance policies. As mentioned, this platform uses artificial intelligence in its design; therefore, Borrowell can provide the best possible solution to users based on existing needs and conditions. Some of the most important features of the Borrowell platform are:

Startup Location: Toronto
Project Launch Year: 2014
Founders: Andrew Graham, Eva Wong
Number of Active Personnel in 2024: 50 to 100 people

Conclusion

In this ExpertUP article, we introduced the successful Canadian startups in recent years. Annually, many startups are approved and supported by Canadian government-approved investment groups; however, only some of these startups can survive in the competitive market and become popular and widespread platforms. In this article, we prepared a list of the best successful Canadian startups in recent years for you. We also shared comprehensive and general information about each of these startups.

As you have seen, most successful startups have addressed a fundamental need. Therefore, if you also have an attractive and innovative business idea that can meet a critical and vital need and save people time, you can consider starting your own startup in Canada. Launching a startup in Canada can bring you permanent residency in this country. Moreover, you can execute and profit from your business idea without needing initial capital. Thank you for staying with us throughout this article. If you have an attractive business idea in mind and intend to launch a startup in Canada, we recommend you first benefit from the free consultation of ExpertUP experts in this field.