Smart Reno: RBC Ventures acquires Smart Reno

Montreal's Smart Reno is cashing out. The online home renovation marketplace that connects consumers and renovation professionals has been acquired by RBC Ventures, reported PE Hub's Kirk Falconer. Like many smaller tech deals, the terms of the deal were not disclosed. Founded in 2012 by CEO Andrei Uglar, Smart Reno currently operates in Alberta, Ontario and Québec. The company previously raised financing from Anges Québec, Anges Québec Capital Fund and 500 Startups Canada. RBC Ventures is a startup creation, acquisition and investment affiliate of Royal Bank of Canada. It said Smart Reno will be given access to assets and resources to help it scale operations in Canada, expand capabilities, and improve the user experience. "Canadians spend nearly $80 billion a year on home renovation projects; however, the experience continues to be painful, inefficient, and lacks trust and transparency for many. We see an incredible opportunity to transform the..