FinanceCA

Aya Layoffs

November 2020

Aya announced a layoff affecting 5 employees (25% of its workforce) in November 2020. The company operates in the Finance sector.

People Affected

Percentage

25%

Announced Date

Nov 19, 2020

About

Toronto-based fintech startup Aya, which specializes in payments and administration for employee benefits packages, has secured $3.7 million CAD in seed funding. The round was led by MaRS Investment Accelerator Fund and Luge Capital, with participation from Anthemis Group, BDC Capital, StandUp Ventures, and angel investors. Founded in 2018, Aya operates at the intersection of fintech and healthtech, offering solutions like Health Spending Accounts (HSA) and Wellness Spending Accounts (WSA) through partnerships with brokers and insurance carriers. The new capital will fuel customer acquisition, product development, and expansion into the US market, building on earlier funding and existing partnerships with several brokerage firms.