HelloStaff, building a pool of talents for Montreal events

Going on an entrepreneurial journey

Starting from scratch and jumping in the unknown… does that ring a bell? It is a prerequisite for becoming an entrepreneur. It is not for everyone and you definitely have to like taking risks and being interested in out-of-the box perspectives, just like Thomas and Michael. 

They had different backgrounds, Thomas had a degree in Management and Michael had started his career as an actor. And yet, they were both working in the events industry, through temporary contracts as brand specialists. Discussing their mutual experience of seeking jobs led them to think of a way to innovate the job seeking experience. HelloStaff was on its way.

Looking for talents 

A lot of entrepreneurs in the tech sector are developers themselves or have an experience in that field but it was not the case for Thomas or Michael. Finding the right person was their first priority.

We wasted 6 months not finding the right person to develop our platform. We understood that we needed to structure everything, working with contracts and officialising. Look for a talent that would also be interested in being a shareholder. This is how we found David.

Thomas Lussiez

With a team of three, fully invested in their project, and a developer with an already established technical expertise and entrepreneurial experience, HelloStaff worked hard on developing their MVP.

When your product is built around a technological solution, you do not have the right to make any mistake; the slightest tech glitch will not be forgiven.

Learning all the way

The startup ecosystem played a major role in our progress: we found mentoring opportunities, professional advice, and funds. Earning our first grant gave us more credibility.

From Montréal inc. to Réseau M, entreprism and Entreprendre ici, an initiative of the Government of Quebec (Ministère de l’Économie, et de l’Innovation), HelloStaff knocked at as many doors as possible to develop their legitimacy. 

Every step of the journey, building a company, I discovered a new field of work and I wanted to get my hands dirty to better understand in order to recruit the right talent.

Check out HelloStaff.ca: If you are self-employed or studying and looking for a short-term mission in relation to events, you can create a profile to get customized offers. If you are a company in the events industry, you could get access to a great pool of talents.

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Save money as you spend through Mylo

We have already touched upon fintech on Innovation Montreal: the use of cryptocurrencies and blockchain to finance projects with a social impact (Impak Finance), or Hardbacon’s app that allow users to become better self-directed investors.

Today we present Mylo: a mobile app that automatically rounds up every purchase you make and invests the spare change.

Fintech on a social mission

What drives Mylo’s founders from the beginning is to make saving and investing accessible for all Canadians and especially for Millennials.

To use Mylo, you do not need any knowledge in finance. Mylo works through a partnership with Tactex Asset Management advisors who invest your money in Exchange-Traded Funds (ETFs).

Basically, the more you spend, the more you save… simple, right? If you buy a $3.60 coffee through your debit or credit card, Mylo will automatically round your purchase to $4.00 and invest the extra $0.40.

Going even further, Mylo is not just a tool for investment, it gives recommendations that are customized and personalized. Using artificial intelligence, the app helps its clients optimize important financial decisions such as insurance coverage, interest payments, travel purchases…

“We’re focused on building the next generation of innovative technology, using AI in conjunction with financial data, to help Canadians improve all aspects of their financial lives.”

The financial model is very attractive: there is a monthly fee of $1 to get access to the app. The customized recommendations are completely free but if clients implement the recommendations, the Mylo team then earns a success fee from their partners.

Finance veterans turned startupers

Phil Barrar and Liam Cheung, Founder and Chairman, are already veterans when it comes to financial investment.

Phil is less than 30 but has been into the Canadian entrepreneurial community for a while. He successively launched and sold two ventures after graduating from Concordia University and ended up joining a Montreal investment fund in 2015: Ferst Capital Partners. This is when he started thinking of ways to democratize financial investment decisions. Mylo emerged from his market study in 2016.

Liam joined the adventure later in 2017. With over 25 years of expertise in finance and technology, he had founded Tactico Inc., the parent company of Tactex Asset Management, an investment firm that manages client-focused equity portfolios.

Mylo acquired Tactex gaining more credibility in the process: a relatively new fintech actor had enough power for acquiring a team of portfolio advisers that manages over $110 million in client assets.

From pitching to seed investing, a tremendous growth

Mylo participated to the iconic TV show Dragon’s Den and got a great deal from three of the investors but as months past and as they worked on a beta version, the team managed to secure a strategic offer that made more sense for our company. They raised $2.65-million in seed financing lead by Desjardins Capital which allowed them to officially launch on the App store.

Today, the startup wants to offer more than just an app. On International Women’s Day, Mylo released a report analyzing the gap between women and men when it comes to saving and investing and offering recommendations to reduce the gap and innovate investing habits.