Fredericton-based Profitual’s accounting software is being introduced into the University of New Brunswick’s management curriculum, marking the startup’s first agreement with a university.

Profitual will be used to teach financial forecasting and analysis to students in the faculty of management. The Fredericton university said it is the first post-secondary institution to adopt the platform, which is already used by more than 600 startups in Canada and the United States.

The initiative is supported by a donation from Duncan MacDonald, a UNB graduate from 1968 and a chartered accountant who has backed several experiential learning programs at the university.

“We accidentally built an ed-tech tool where our ICP [ideal customer profile] is non-finance founders,” said Profitual Founder and CEO Raymond Fitzpartrick. “It includes features like tool tipping and videos on how to use the platform throughout. Also, our work with accelerators aims to teach entrepreneurs the basics. This extension into the classroom was natural.” 

UNB said the move is intended to update how financial modelling is taught. For years, students have relied on Excel-based templates to learn forecasting. While effective for teaching core concepts, these tools can be difficult to troubleshoot and are not widely used outside academic settings.

Profitual provides a software platform that allows users to build financial models while showing the effects of business decisions in real time. The university said the goal is to give students experience with tools that are used in industry, improving their job readiness whether they join established companies or launch startups.

The platform will be integrated into courses and a research project led by Dr. David Foord. It will also be available more broadly through UNB’s International Business and Entrepreneurship Centre.

Fitzpatrick said the product was originally designed for founders without financial backgrounds, with features such as guided prompts and instructional videos. Its adoption in the classroom reflects the company’s work with startup accelerators, which also focus on teaching financial fundamentals.

The company is now seeking to expand its presence in higher education. Fitzpatrick said Profitual plans to recruit 10 additional universities to join an early adopter program beginning in the fall term.