How we helped one startup triple its MRR and secure funding from top-tier Canadian institutional investors (Case Study)

Castle Rock Innovations


Investment Date: June 2017*

Mylo is a leading Canadian FinTech company. The Mylo app helps Canadians save and invest by automatically rounding up purchases to the nearest dollar and investing the spare change in low-cost ETFs managed by professional portfolio managers. Mylo also uses machine learning in conjunction with financial and transactional data to make personal recommendations that help users make smarter financial decisions.

Participating Investors:

desjardins-capital national-bank FCP


*As of March 2020, we have not yet exited our investment in Mylo.

1. The Challenge

quote-icon “We were drawn by Mylo’s incredible potential to revolutionize the way Canadians relate to their personal finances. The question was not if, but how, to achieve this."

Dr. Liam Cheung, Tactico Managing Partner & Co-Founder, Executive Chairman of Mylo

The Company needed a time-tested, cost-efficient asset management product to
manage and invest for its users. Being at the very early stages of the business
lifecycle, the Company also needed to find the right investors and secure
funding for growth and profitability.


We guided Mylo through four (4) rounds of fundraising totaling $14M.
We designed four (4) special-purpose mutual funds, set up a highly scalable fund management system and built the Mylo Advantage product.
We negotiated regulatory approval for the business model, including the investment account creation process.


“We completely integrated ourselves into the Mylo business,” said Dr. Liam Cheung, Tactico Managing Partner & Cofounder, and Executive Chairman of Mylo. “Everything from fundraising and projections to product development and even technology. We helped design the Mylo Advantage product and leveraged our relationships to secure the right investment partners.”

With our help, Mylo raised a total of $14M in funding, including from two of Canada’s largest financial institutions, Desjardins and National Bank of Canada. The Company also tripled its MRR in 2019 through user growth and user adoption of the Mylo Advantage product. Previously, in 2017, Mylo had secured a $400K deal from three (3) dragon’s on Dragon’s Den, including Arlene Dickinson, one of Canada’s most iconic entrepreneurs. View the pitch below by Tactico’s Dr. Liam Cheung and Mylo’s CEO Phil Barrar.

Our Recommended Read #1

Case Study: How we delivered a 71.4% IRR on a single investment

Our Recommended Read #2

Press Release: Tactico launches the Capital Club, its online investor platform