San Francisco’s AppDirect, which employs about 190 people in its Montreal office, will take $54 million loan from Invest Quebec. The money will come as a greater project to create 730 new jobs in Montreal.
The province will provide the cloud software company AppDirect with a loan of up to $54.8 million through Investissement Québec, per the Canadian Press.
“AppDirect sends a strong signal by choosing Montreal,” Quebec Premier François Legault said in a statement. “It sends the signal that Quebec is one of the best places in the world to invest in information technology, which reinforces our metropolis’ status as an innovation hub in North America.”
AppDirect’s platform allows businesses to more easily manage sales, through services like billing management and customizable layouts for online marketplaces. About 190 of AppDirect’s currently roughly 800 employees are based in Montreal, the government said. The expansion will make Montreal the site of AppDirect’s Canadian headquarters, with more than half of the company’s total workforce.
It’s not the first time this week we’ve heard of companies making large investments in Montreal, and promising jobs.
On Thursday, India’s Tata Consultancy announced it would hire 500 new employees as it fills out its new Montreal office. The group is moving into a new 9,500-square foot workspace at 1255 Phillips Square downtown.
On Tuesday, St. Jerome’s Lion Electric announced it will construct a new battery plant, armed with $100 million in cash from the Canadian and Quebec governments. That move will create 135 jobs.
And last week it was Vancouver’s Boast.AI, which announced the opening of its new Montreal office. Boast will hire 25 people as part of the move.
While we’re at it, we should mention that there will also be a flood of new capital for growth companies in Canada. That’s because Montreal’s inovia Capital raised a new fund worth $560 million.
Headquartered in San Francisco, AppDirect was founded about 10 years ago by Daniel Saks and Nicolas Desmarais, the son of Power Corp. of Canada chairman Paul Desmarais Jr.
The company has raised nearly $500 million from investors including the Caisse de dépot et placement du Québec.
(PHOTO: San Francisco Business Times)