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Country comparison

Canada vs Finland: startup funding compared

Since 4 June 2025, startups in Canada raised $4.8B across 114 rounds, 2.2 times Finland's $2.1B.

CanadavsFinland
$4.8BCapital raised$2.1B
114Rounds64
$6MMedian round$4.5M
0.7%Share of all capital0.3%
55%Early-stage rounds69%

Capital raised running total by month

$4.8B$2.4B Canada, end of Jun 25: $206MCanada, end of Jul: $392MCanada, end of Aug: $1.1BCanada, end of Sept: $1.1BCanada, end of Oct: $1.2BCanada, end of Nov: $2BCanada, end of Dec: $2BCanada, end of Jan 26: $3.2BCanada, end of Feb: $3.7BCanada, end of Mar: $3.9BCanada, end of Apr: $3.9BCanada, end of May: $4BCanada, end of Jun: $4.5BCanada, end of Jul: $4.5BCanada, end of Aug: $4.7BCanada, end of Sept: $4.7BCanada, end of Oct: $4.7BCanada, end of Nov: $4.8BFinland, end of Jun 25: $58.2MFinland, end of Jul: $89.8MFinland, end of Aug: $92.7MFinland, end of Sept: $477MFinland, end of Oct: $1.4BFinland, end of Nov: $1.5BFinland, end of Dec: $1.7BFinland, end of Jan 26: $1.7BFinland, end of Feb: $1.7BFinland, end of Mar: $1.8BFinland, end of Apr: $1.8BFinland, end of May: $1.9BFinland, end of Jun: $1.9BFinland, end of Jul: $1.9BFinland, end of Aug: $1.9BFinland, end of Sept: $2.1BFinland, end of Oct: $2.1BFinland, end of Nov: $2.1B Jun 25SeptDecMarJunSept
CanadaFinland
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Where the money goes share of capital by sector

Canada

  • AI43%$2.1B
  • Robotics & Hardware25%$1.2B
  • Other13%$611M
  • Enterprise software8%$372M
  • Fintech4%$190M
  • Health4%$181M

Finland

  • Health43%$914M
  • Robotics & Hardware23%$496M
  • AI21%$449M
  • Other4%$78M
  • Climate & Energy3%$55.6M
  • Cybersecurity3%$54.5M

Biggest rounds

Canada

  1. Waabi $750M 1
  2. Clio $500M 2
  3. Cohere $500M 3

Finland

  1. Oura $900M 1
  2. IQM Quantum Computers $300M 2
  3. Verda $189M 3

Stage mix share of rounds

CanadaFinland
39%Pre-Seed and Seed56%
16%Series A13%
10%Series B5%
8%Series C and later3%
27%Other or undisclosed23%

Most active investors rounds joined

InvestorCanadaFinland
Lifeline Ventures·14
Tesi·7
BDC Capital6·
Garage Capital6·
Inovia Capital6·
Antler·5
Investissement Québec5·
Khosla Ventures5·
Business Finland·4
Graphite Ventures4·
Panache Ventures4·
Amiral Ventures3·

Startup hubs rounds and capital by city

Canada

  • Toronto37$2.3B
  • Vancouver15$903M
  • Montreal25$535M
  • Montréal1$302M
  • Calgary9$155M
  • Richmond3$122M

Finland

  • Oulu2$902M
  • Helsinki33$561M
  • Espoo9$559M
  • Tampere2$18.7M
  • Kouvola1$11.7M
  • Kuopio1$2.9M

Latest rounds

Questions

Which country raised more startup funding, Canada or Finland?

Canada. Since 4 June 2025, startups in Canada raised $4.8B across 114 rounds, against $2.1B across 64 rounds in Finland, 2.2 times more. That is 0.7% and 0.3% of all the capital FundraiseBase tracked worldwide over the period.

How many startup funding rounds were announced in Canada and Finland?

114 rounds in Canada and 64 rounds in Finland since 4 June 2025, about 6 and 4 a month.

Are startup rounds bigger in Canada or Finland?

The median round is $6M in Canada and $4.5M in Finland, and the average round $42.2M and $33.5M. The median shows the typical round; the average is pulled up by a few very large ones.

What is the biggest startup round in Canada?

The biggest startup rounds in Canada since 4 June 2025 are Waabi ($750M, 30 Jan 2026), Clio ($500M, Series G, 10 Nov 2025) and Cohere ($500M, 14 Aug 2025).

What is the biggest startup round in Finland?

The biggest startup rounds in Finland since 4 June 2025 are Oura ($900M, Series E, 14 Oct 2025), IQM Quantum Computers ($300M, Series B, 3 Sept 2025) and Verda ($189M, Series B, 22 Sept 2026).

Which sectors attract the most startup funding in Canada and Finland?

In Canada, AI ($2.1B, 43% of the capital), Robotics & Hardware ($1.2B, 25%) and Enterprise software ($372M, 8%) lead. In Finland, Health ($914M, 43% of the capital), Robotics & Hardware ($496M, 23%) and AI ($449M, 21%) lead.

Is Canada or Finland better for early-stage startups?

Early-stage rounds (Pre-Seed, Seed and Series A) make up 55% of rounds in Canada and 69% in Finland. Canada recorded 45 Pre-Seed or Seed rounds and Finland 36 Pre-Seed or Seed rounds, with a median of $3.3M and $3.1M.

How much growth funding (Series B and later) goes to Canada and Finland?

Startups in Canada raised $1.9B in 20 Series B or later rounds, 39% of the country's capital. In Finland, $1.6B in 5 rounds, 74% of the capital.

Who are the most active startup investors in Canada?

BDC Capital (6 rounds, 2 led), Inovia Capital (6 rounds, 1 led) and Garage Capital (6 rounds, 1 led) are the most active investors in Canada.

Who are the most active startup investors in Finland?

Lifeline Ventures (14 rounds, 9 led), Tesi (7 rounds, 1 led) and Antler (5 rounds, 2 led) are the most active investors in Finland.

Which investors back startups in both Canada and Finland?

2 investors joined rounds in both countries. The most active: General Catalyst (2 in Canada, 1 in Finland) and HubSpot Ventures (1 in Canada, 1 in Finland).

Which cities lead startup funding in Canada and Finland?

Toronto leads Canada with $2.3B across 37 rounds, ahead of Vancouver ($903M). Oulu leads Finland with $902M across 2 rounds, ahead of Helsinki ($561M).

Which month brought the most startup funding?

In Canada, January 2026 ($1.2B). In Finland, October 2025 ($900M).

How much did startups in Canada and Finland raise in the last 90 days?

In the 90 days to 10 Nov 2026, startups in Canada raised $274M across 9 rounds and in Finland $243M across 8 rounds.

Where does this data come from?

FundraiseBase lists startup funding rounds from public announcements: press releases, company posts and news coverage, checked and updated every day. Amounts are in US dollars. Some rounds are never announced, so the figures show what was made public, not every round. Corrections are welcome.

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