LX Ventures Acquires Canadian Startup Weeve.it

Posted by Knowlton Thomas

Vancouver's LX Ventures has acquired Canadian startup Weeve.it.

Specifically, LXV says will acquire all of Weeve's assets including their crowdfunding platform Weeve.it. Weeve launched in Vancouver in July 2012, when it claimed to be the world's first crowdfunding platform to utilize a freemium model that allows nonprofit organizations to raise money without transaction fees.

LX Ventures plans to take Weeve's "sophisticated crowdfunding framework" and repurpose it for use in other industries that are ready for disruption, the company says.

"Weeve's crowdfunding technology is a natural fit for our FinTech market vertical. Together, we will internally innovate and deliver revolutionary funding solutions across multiple market sectors," explains Ray Walia, COO of LX Ventures.

"We couldn't be more thrilled to join forces with LX Ventures," Alex Chuang, cofounder and CEO of Weeve, said. "With LX Ventures accelerating our growth with their business intelligence, we can continue to innovate and take crowdfunding to new heights."

LX Ventures is a publicly traded technology incubator that launches, integrates, and acquires early-stage, high-growth tech startups.

Company:
Weeve
Website:
http://www.weeve.it
Location:
Vancouver, British Columbia, Canada

Weeve is a crowdfunding platform that allows nonprofit organizations to raise money and awareness for their cause 100% free. Features include social fundraising with integrated social media buttons, project management dashboard, downloadable donor list, blog updates, and community engagement tools. more

Company:
LX Ventures
Website:
http://www.lxventures.com
Location:
Vancouver, British Columbia, Canada

LX Ventures is a publicly traded incubator that launches, integrates, and acquires early stage high growth technology companies. We are a group of entrepreneurs dedicated to developing the next generation of entrepreneurs by providing funding, resources, mentorship, and access to our global network. We are in the business of building businesses. Our approach is twofold: we either partner with existing companies to... more


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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing tennis or otherwise enjoying the outdoors. more



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