Backing the Builders: Endeavor Catalyst Invests $4.75M CAD in Two Canadian Scale-Ups
Endeavor Catalyst has made its first-ever investments in Canada, backing two Endeavor Entrepreneur led companies—Certn ($1.3M USD) and KOHO Financial ($2M USD)—as part of Fund IV in late 2024. These investments mark a major milestone for Endeavor in Canada, reinforcing Catalyst’s commitment to scaling high-growth founders and expanding its global investor network into the Canadian ecosystem.
Endeavor Catalyst invests exclusively in Endeavor Entrepreneurs—founders who have already demonstrated exceptional growth and global potential—to support them as they navigate the challenges of scaling. By investing in founders Andrew McLeod and Owen Madrick (Certn), and Daniel Eberhard (KOHO), Endeavor is reinforcing its belief in their ability to transform industries, shape Canada’s entrepreneurial landscape, and become long-term contributors to the ecosystem.
Certn: Transforming Background Screening
Founded in 2016, Certn is transforming background screening with AI, enabling businesses to conduct comprehensive checks in minutes rather than days. Trusted by over 20,000 businesses worldwide, Certn’s platform provides frictionless, fast, and reliable hiring insights for companies from startups to multinational enterprises.
Endeavor Catalyst’s investment was part of Certn’s $30 million CAD round, led by BDC Capital’s Growth Venture Fund. This first-time co-investment between BDC and Endeavor Catalyst is a meaningful milestone that connects Canada’s largest venture investor with Endeavor’s globally connected fund.
With recent expansions into the U.S., Europe, Australia, and the Middle East, Certn is rapidly scaling internationally. The capital will enable Certn to expand its platform and refine its product offering, solidifying its position as a global leader in background screening.
KOHO: Reshaping Banking for Canadians
KOHO, founded in 2014, is disrupting legacy financial institutions by providing Canadians with accessible and transparent personal finance solutions. Offering products like credit-building tools, high-interest savings, and low-fee spending accounts, KOHO is at the forefront of a financial revolution that prioritizes user experience and financial inclusion.
Endeavor Catalyst’s investment was part of KOHO’s $190 million CAD equity and debt round, a key milestone in the company’s growth strategy. The funding will support KOHO’s push for a Canadian banking license, allowing it to offer an expanded suite of financial products and reshape how consumers interact with banking services. Led by a mix of new and existing investors, KOHO’s funding round was one of the largest in Canadian fintech in 2024, reinforcing its position as a category leader.
More Than Capital: Expanding Canada’s Global Investor Network
Endeavor Catalyst’s role extends beyond investing—it builds a bridge to new sources of global capital. Catalyst’s co-investment in Certn alongside BDC Capital connects Canada’s largest venture investor with Endeavor’s global investment network for the first time.
"Endeavor Catalyst’s investments don’t just fuel individual companies—they strengthen the entire ecosystem. Every investment expands the global network of investors supporting Canadian scale-ups, making it easier for the next generation of founders to raise capital and scale faster."
Kristjan Sigurdson
Managing Director, Endeavor Canada
Certn’s investor base already includes firms with strong ties to the Endeavor ecosystem, such as B Capital (lead investor in Yalo), Tribe Capital (investor in Nium and MetaMap), and Bossa Investments (investor in Mottu, Thunes, and Factorial). Similarly, KOHO’s investors—Greyhound, TTV, and Portage—have backed Endeavor companies such as Satispay, Loft, Careem, Hellas Direct, and Covertree, among others. With the Catalyst investments, several new investors join our global ecosystem of firms we have co-invested with, lengthening the rolodex that the next generation of Canadian Endeavor Entrepreneurs might benefit from.
The Multiplier Effect™: From Founders to Ecosystem Builders
Since being selected as Endeavor Entrepreneurs, Andrew McLeod, Owen Madrick, and Daniel Eberhard have played active roles in the Endeavor community. As some of the first founders selected through Endeavor Canada, they have not only leveraged the network’s resources but have also begun giving back in meaningful ways. By sharing insights at exclusive CEO gatherings in Toronto and Vancouver, mentoring fellow founders, and tapping into Endeavor’s global network to navigate key growth challenges, they are scaling their companies into global category leaders and setting new standards for entrepreneurial leadership in the Canadian ecosystem.
In 2024, both Certn and KOHO were recognized as Endeavor Outliers, a designation awarded to the fastest-growing companies in the network of over 1,600 companies globally. As Outliers, they received invites to the annual Endeavor Outliers Retreat, had the rare opportunity to be interviewed on the NYSE floor, and gained access to exclusive sessions with their global peers. They also participated in an Outliers Session with Tobi Lütke, Co-founder and CEO of Shopify, alongside 50 of their peers from around the world.
""A core tenet of what it means to be an Endeavor Entrepreneur is that you value not just building a massive business, but that you prioritize investing your time, energy and even capital back into the ecosystems that supported you," said Kristjan Sigurdson, Managing Director of Endeavor Canada. "Andrew, Owen, and Daniel are setting the example for what it means to scale with impact.""
Endeavor’s model focuses on building lasting infrastructure for entrepreneurship, transforming founders into ecosystem builders and funders. Over 30% of Catalyst Fund IV LPs are Endeavor Entrepreneurs, and we look forward to seeing participation from our Canadian founders in future Catalyst funds – a powerful complement to the angel investing many Canadian Endeavor Entrepreneurs already do in the country.
While the Canada office is still one of the youngest, this model has been shown to work across every major Endeavor market, from Latin America to Southeast Asia, where former Endeavor Entrepreneurs have gone on to not just invest in new founders, but also join their local Endeavor boards, and shape national tech ecosystems in a variety of other ways. This is how we activate the Multiplier Effect™—a self-sustaining cycle of entrepreneurial growth. Catalyst’s investment into Canada marks an important milestone in this cycle.
A Defining Moment for Endeavor in Canada
With $540M AUM and 340+ investments across 37 markets, Endeavor Catalyst has backed some of the world’s most transformative companies, including Brex, Kavak, and Rappi. The fund boasts 57+ unicorns and was ranked #1 on the Kauffman Returns Index in 2024.
By investing in Certn and KOHO, Endeavor Catalyst has initiated the newest phase of Endeavor’s long-term commitment to Canadian scale-ups. As more Canadian founders join Endeavor and receive Catalyst backing, they will gain access to an unparalleled global community of investors, operators, and mentors who can support them at every stage of their scale-up journey.
This is just the beginning. As more Canadian founders join Endeavor, raise global capital, and reinvest in the next generation, Catalyst will remain a vital resource in fueling the country’s scale-up success—one transformative founder at a time.