14

Aug

Two Spark Centre Clients Receive Seed Funding from City Flow

Two Spark Innovation Centre clients from the Thrive Accelerator Program have secured significant angel funding from City Flow Project, a newly formed seed investment fund.

City Flow Project LP, has invested $300,000 in National ProStaff and $55,000 in Zambah. This marks the two largest investments made in Spark Centre clients during the 5 years of existence.  It is also just the beginning as more equity investments are quickly coming from City Flow.

National ProStaff (“NPS”) is a social commerce platform which connects consumers with brand experts. NPS has grown to become the premier fishing website and app for anglers all across Canada. Brands are able to manage, recruit, and highlight all of their brand ambassadors in one place while consumers gain a great resource to make smarter buying decisions.

Zambah is a web and mobile platform dedicated to exposing and promoting independent musicians to wide variety of new fans. Independent artists can share and sell their music directly to listeners through a visually engaging, dynamic platform.

“We’re thrilled to be working with Jason Atkins and the entire group behind the City Flow Project,” said Dan Miguel, CEO of National ProStaff. “The investors behind City Flow are some of the most successful people in Canada, and their expertise and guidance will help us get to where we want National ProStaff to go. Their financial investment in us will help us grow our team and do the things we need to do to execute on our vision.”

Angel investment is now alive and well in Durham Region,” said Dennis Croft, President & CEO of Spark Centre. “City Flow has answered a significant gap in the start-up ecosystem by providing a true angel investment approach. They understand the high risk and the significant opportunity, and they appreciate our clients’ wellbeing. We are so excited to see them engaged.”

“City Flow’s design is to provide rapid, practical and fair access to capital and mentorship for innovative start-up companies, primarily at the seed stage,” said Jason Atkins of City Flow. “We have already made investments in two high potential local start-ups, and are in discussions with several more. I remember how hard it was to raise capital and City Flow will serve a significant gap in the seed capital ecosystem of Durham Region.”

About Spark Centre: Spark Commercialization and Innovation Centre is one of eighteen not-for-profit Regional Innovation Centres (RICs) that form part of the Ontario Network of Entrepreneurs (ONE). The centre works to improve competitiveness and visibility of Durham Region and Northumberland County as a world-class innovation cluster. For more information on Spark Centre, please visit www.sparkcentre.org

About City Flow Project: City Flow Project, LP is a newly formed seed fund back by investors from across Canada, who represent Canadian success stories and represents some of the largest technology companies in Canada.  The philosophies of City Flow focus on making the seed investment an experiential learning opportunity for start-ups, while ensuring terms are fair, transparent and straight forward. City Flow is located out of Whitby, Ontario and will look to Durham Region based innovative start-ups for its investments. City Flow has formed a close relationship with Spark Innovation Centre, which works with over 200 start-ups annually. www.cityflowproject.com

Media Contact:
Brenda Brown
Director, Portfolio and LP Community, City Flow Project
brenda@cityflowproject.com
905-767-7097