Beacon launches with CAD $5.25 million seed round

Beacon, a new solution built to facilitate smooth transitions for immigrants relocating to Canada, has completed a CAD $5.25 million seed round and officially launched in the Canadian market. Investors backing the startup include Jawl Residential Group, Wayne Pommen, Adrian Rocca, Jonathan McCain, and MS Transverse Insurance Group.

Beacon’s initial app is a pre-arrival solution that is on a mission to support an immigrant’s first 100 days in Canada. It provides relevant content, customized digital information and checklists for people before they depart their home country. The Beacon App will soon include Beacon Money, which will allow users to open a Canadian bank account.

MS Transverse Insurance Group will work together with Beacon to offer insurance products to users.

“Canada is an important market for MS Transverse Insurance Group. We are seeking to increase our Canadian exposure and believe that the combination of the vision and team at Beacon is a logical step for our Canadian business. Immigrants in any market require tailored insurance solutions and we look forward to supporting the Beacon team with innovative insurance solutions for Beacon users.” – Dave Paulsson, President of MS Transverse Insurance Group.