Vancouver Angel invests in Canadian 500Startups accelerator company

TechCrunch reported this morning that yesterday’s 500Startups Demo Day was a huge success and a couple Canadian names caught our eye in Alexia Tsotsis’ report.

Attending Vancouver angel investor Rewardli picked up$50K each.

Rewardli was founded by Montreal entrepreneur George Favvas and enables small businesses to take advantage of group buying discounts in order to collectively save. Favvas was the founder of SmartHippo and has relocated to Silicon Valley to be involved with 500Startups.

In February Techvibes reported Favvas and Rewardli would be participating in 500Startups first batch and that Montreal’s Real Ventures would be matching any investment made by 500Startups. No word yet on whether Real Ventures will be matching Mike Edwards investment as well.

Edwards is also and investor in Vancouver startups Summify and Compass Engine.

Company: http://www.initiogroup.com
Location: Vancouver, British Columbia, Canada

InitioGroup is a Vancouver, BC based early stage investment fund led by Managing Director Mike Edwards. Our focus is consumer internet, mobile, and solving real problems. more

Company: http://www.rewardli.com
Location: San Francisco, California, United States

Rewardli lets professionals and small business owners leverage the buying power in their social graph to get better deals and discounts on the products and services they buy. The company currently has “always-on” deals with over 60 national brands including Staples, FedEx Office, VistaPrint, GoDaddy, Expedia, Priceline and more. The percentage of money saved for a given user starts out at a base level and then… more