Image source Propel.

SnapAP Awarded Funding Through Participation in Propel’s Incite Program

April, 2020. SnapAP participated in a Propel accelerator growth program, which began in early Fall 2019 with three dozen other startups from around Atlantic Canada. The bonus on top of access to proven growth hacking strategies was the prospect of being eligible for a shared investment from the co-sponsors of the Propel program, Fredericton-based NBIF and Halifax-based Innovocorp.

 

In March, we were delighted to be informed of SnapAP being included in the investment award round along with a number of other cohorts from this innovative Propel program. The announcement notice and details are published in Canada’s national startup news portal BetaKit.

As co-founders, Sionne Roberts and I were delighted with the news of the special investment. We participated in the curriculum and benefited from it greatly. The lessons we learned will help us grow, and in fact, we are already growing in sales funnel potential from those lessons, says Jean-Daniel Drapeau, CEO, Snap Accounts Payable Corporation

Five Startups from Propel’s Incite Program Awarded Innovative Funding-BetaKit

BetaKit. Five startups from Propel’s 2019-2020 Incite program, recently received $250,000 from the New Brunswick Innovation Foundation (NBIF) and Halifax-based Innovacorp. The selected companies are set to each receive an investment of $50,000 shared equally between NBIF and Innovacorp.

The companies receiving investment are:

FoodByte (Nova Scotia): An online platform allowing food processors to quickly generate and manage food safety plans.
Simbi (Nova Scotia, British Columbia): Educational technology that lets learners create interactive storybooks while improving reading skills.
Safa (Newfoundland & Labrador): Develops evidence-based algorithms for improved employee retention.
SnapAP (New Brunswick): A FinTech solution for streamlining the purchase to payment cycle within organizations.
TotalIQ (Newfoundland & Labrador): A management platform for engineering teams that uses project experience to increase proposal wins.

“This partnership and this investment are about seeing Atlantic Canada as a total system, rather than as separate regions,” said Thomas Bird, NBIF investment associate. “This was a way of unifying the Atlantic region and building closer ties with our partners in Nova Scotia.”

For more complete coverage from the April 29 edition of BetaKit on the Propel announcement: ATLANTIC CANADA’S PROPEL ACCELERATOR SHIFTS TO CONTINUOUS INTAKE MODEL