The Story Behind Ownr’s Financial Transformation
Reading time: 3 minutes
When Shane Murphy, Derek Hopfner, and Travis Houlette launched Founded Technologies, they weren’t setting out to build a company for acquisition - they were trying to solve a problem. They saw how difficult it was for small business owners to incorporate their companies, and they believed there had to be a better way. So they built one: an online, self-serve platform that made incorporation easier, faster, and more accessible.
That idea took off. And as the company grew, it evolved into what is now Ownr - a trusted platform that has helped over 205,000 Canadian businesses get started. In 2020, that journey came full circle when RBC Ventures acquired Ownr, expanding its reach and impact even further.
But behind every leap in growth, there’s another story - the quieter one about what it takes to scale responsibly, and the systems needed to support that growth. That’s where we were fortunate to be involved.
Growing Pains of a Rapidly Scaling Startup
Ownr’s product was resonating. More entrepreneurs were signing up, transactions were climbing, and new business lines were being explored. But with success came complexity. The team at Ownr was now dealing with:
High transaction volumes that needed to be recorded within a strict 2-business-day timeline
A need to earn trust among users new to online incorporation requiring back-end systems that were dependable
Plans to expand service offerings, which called for flexible, scalable financial processes, not more manual work
Their small but mighty team was managing it all, but something had to give.
Where We Came In
Our goal was to help Ownr create financial systems that could keep up with the pace of their growth without adding unnecessary burden on their team. Our approach wasn’t to reinvent everything. It was to build quietly in the background and help the finance team work smarter, not harder.
A Custom Stripe-Xero Integration
We created a tailored integration that made Stripe data flow seamlessly into Xero, splitting line items across multiple GL accounts. That meant commissions, government fees, and deferred revenue were accurately captured without manual sorting.
Reconciliation, Streamlined
We introduced reconciliation processes that automatically matched Stripe payouts with invoices. This helped eliminate discrepancies and reduced the risk of delays in financial reporting.
Real-Time Data Imports
Instead of relying on the default Stripe feed, which could introduce timing delays, we built a custom import system to keep data flowing on time to ensure that reports stayed accurate and deadlines were met.
Flexible Systems for What’s Next
As Ownr introduced new offerings, the tools we implemented didn’t require a rebuild. They flexed with the business which made it easier for the team to scale without starting from scratch.
What Changed
With automation in place, Ownr’s finance team was able to move from reactive to strategic, spending less time on manual tasks and more time reviewing and refining. This was how those changes looked in numbers:
75% increase in operational efficiency
200% ability to scale with double the transaction volume
205,000+ Canadian businesses incorporated through Ownr
These systems helped Ownr build greater internal confidence - knowing they had the operational structure to back their vision.
Lessons for Other Founders
Every startup’s journey is different, but there are some takeaways from Ownr’s experience that others might find helpful:
Start with the bottlenecks.
You don’t need to automate everything - even streamlining a few repetitive processes can free up your team’s time and reduce the chances of error.
Think beyond today.
It’s tempting to patch processes as you go, but investing in flexible systems early on can save time and stress later.
A Few Words from the Team at Ownr
"Working with ConnectCPA has truly made a difference for us at Ownr. Their team took the time to understand our unique challenges and provided tailored solutions that streamlined our financial processes. This support not only helped us serve our customers better but also built the trust we needed in our technology-driven platform. Ultimately, their partnership played a key role in our journey toward a successful acquisition by RBC, and for that, we are genuinely grateful."
— Shane Murphy, Co-Founder
Our experience with SaaS and tech companies helps us understand what growing businesses need, especially when it comes to financial clarity and automation.
If you're navigating similar challenges, we’d be happy to explore how we can support your goals.
