$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Phil Barrar, Liam Cheung from Montreal, QC, pitched Mylo in Season 12, Episode 19, asking the Dragons for $400K for 5% of the company.
- Asked for$400K for 5%
- Valuation$8Mimplied by the ask
- OutcomeDealwith Michele Romanow, Arlene Dickinson and Joe Mimran
- Final deal$400K for 5%valued at $8M
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Michael Wekerle | Out, cited competition in the fintech space | Out |
| Manjit Minhas | Out, saw too many challenges ahead | Out |
| Jim Treliving | Out, already invested in a similar US business | Out |
| Joe Mimran and Michele Romanow and Arlene Dickinson | $400,000 for 5%, split jointly between the three dragons | Accepted |
Phil Barrar and Liam Cheung of Montreal, Quebec asked for $400,000 for 5% of Mylo, an app that rounds up everyday purchases and automatically invests the spare change into a professionally managed portfolio of stocks, bonds and money market instruments, aimed at helping Canadians save and invest. Mylo charges users a flat $1 per month fee and generates additional revenue through affiliate partnerships when users act on AI-driven recommendations such as mortgages or insurance. The company is currently in beta, has built a waitlist of over 10,000 people for under $2 per person in acquisition cost, and manages $110 million in assets under management through Liam Cheung's portfolio management background.
Michael Wekerle went out citing competition in the fintech space. Manjit Minhas went out, seeing significant challenges ahead despite liking the mission. Jim Treliving went out, noting he was already invested in a similar business in the US. Michele Romanow, Arlene Dickinson and Joe Mimran agreed to jointly offer $400,000 for 5%, which the founders accepted.
Pitch details from CBC’s Dragons’ Den pitch page.
Mylo today
- StatusOut of businessLast checked September 2026
Mylo appears to have closed. Its products may no longer be available.