Fintech.ca

🚀 Canada's Fintech Boom: 10 Startups to Watch in 2025 🇨🇦 Canada’s fintech sector is on fire, fueled by rising demand for digital financial solutions and strong investor backing. From simplifying real estate lending to supporting immigrant financial integration, these 10 innovative startups are leading the charge into 2025: 🔹 Baseline (Toronto) – Shaye Wali, Jonathan Keebler, and Sergio Santinelli are streamlining private real estate lending. 🔹 My Beacon (Toronto) – Stu Szabo and Aditya Mhatre are transforming financial services for immigrants with the MyBeacon Super App. 🔹 Bloom Finance Company Ltd. (Toronto) – Ben McCabe is unlocking home equity for retirees with reverse mortgages and the Bloom Home Equity Prepaid Mastercard. 🔹 Blossom Social (Vancouver) – Maxwell Nicholson, Annika Ng, Kartik Bhutani, and Brandon Beavis are building Canada’s largest social network for retail investors. 🔹 Leasey.AI (Vancouver) – Carlos Leal and Juan Leal, CPA, CA are automating property management for residential landlords. 🔹 Loop Financial (Toronto) – Cato Pastoll is making cross-border payments seamless for SMEs with the Loop Global Visa Card. 🔹 The Nmbr Company (Toronto) – Simon Bourgeois, Drew Millington, and Kevin Langlois are redefining payroll with their API-driven solutions. 🔹 Quickly (Calgary) – Kyle McLaughlin Friedman and Ammar Memon are revolutionizing Early Payment Platforms for SMBs, supported by Thin Air Labs and ATB Financial. 🔹 Uplinq (Toronto) – Ron Benegbi and Patrick Reily are using AI to expand credit access for small businesses globally. 🔹 Zown (Toronto) – Rishard Rameez, Nabeel Rushdi, Mak Pashang, Jacob Guenther, and Vinura Abeysundara are simplifying homeownership in Ontario. These trailblazing companies are reshaping how Canadians manage money, invest, and access credit. The future of fintech in Canada has never been brighter. 🌟 #Fintech #Startups #cdntech

🚀 Big News for Canadian Fintech! 🚀 Toronto-based Float has secured $70 million in Series B funding, led by Growth Equity at Goldman Sachs Alternatives, bringing its total funding to $120 million in the past year! Float’s impressive growth speaks for itself: 📈 15x increase in payment volume and revenue 💼 30x growth in assets under management 💳 140x surge in credit issuance With clients like Jane Software, LumiQ, and Knix, Float is redefining how Canadian businesses manage finances. This new funding will power product expansion, top-tier hiring, and national market growth. CEO Rob Khazzam put it best: "Float’s mission is to cut through red tape and provide financial tools that empower businesses to grow with ease." Exciting times ahead for Canada’s fintech scene! 🇨🇦💼

🚀 AI Meets the Law: A Legal-Tech Revolution ⚖️ The use of AI in the legal industry is growing rapidly, transforming how lawyers approach their work. One Canadian company is leading this charge: Alexi. Founded in 2017, Alexi leverages proprietary AI technology to streamline litigation processes, enabling lawyers to deliver better client outcomes. According to CEO Mark Doble, Alexi’s tools can reduce routine litigation tasks by up to 80%. Their latest innovation? The Advanced Legal Reasoning (ALR) platform. This game-changing tool helps lawyers analyze complex litigation files in minutes, uncovering actionable insights from thousands of documents. Trusted by leading firms like McLeod Law LLP and Stewart McKelvey, Alexi is blazing a trail in legal-tech innovation across Canada and the U.S. #LegalTech #AI #Innovation #Litigation

🌟 Exciting Fintech Innovation Alert! 🌟 Spring Financial has just launched Bloom, Canada’s first AI-powered financial assistant! 🌱 With Bloom’s Oscar AI, Canadians can ask personalized financial questions—like tracking Uber spending, subscription costs, or comparing habits—and get instant insights tailored to their financial situation. Bloom also centralizes accounts from major financial institutions and offers credit-building tools like rent reporting, making finances simpler and smarter. As Spring CEO Tyler Thielmann puts it: “Bloom brings a full financial picture right to your fingertips.” 💡 Discover more about this game-changing app and its potential to reshape how Canadians manage their money. #Fintech #Innovation #AI #PersonalFinance

🚀 Transforming Debt Repayment for the Digital Age Eltropy, a leading AI-powered conversations platform for community financial institutions, has acquired Montreal-based Lexop, a pioneer in digital collections technology. This strategic move combines Eltropy’s advanced AI platform with Lexop’s innovative self-serve payment solutions, modernizing debt repayment and collections. The goal? To reduce delinquencies and enhance borrower experiences, making paying debts as seamless as using your Apple Watch. Eltropy CEO Ashish Garg says, “The world needs a better way for people to pay their debt obligations,” emphasizing effectiveness with empathy. Read more about this game-changing partnership and how it’s reshaping financial services. 👇

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📢 Big News in Fintech! Fiserv, a global payments and financial services tech leader, has announced its definitive agreement to acquire Toronto-based Payfare Inc. (TSX: PAY). Payfare, known for its innovative gig-economy payment solutions, will bring its cutting-edge program management and embedded finance expertise to Fiserv, strengthening solutions for enterprises and financial institutions. This acquisition, expected to close in the first half of 2025, promises to empower modern workforces by combining Payfare’s innovations with Fiserv’s global scale and technology.

🌟 Wealthsimple: A Decade of Redefining Financial Services 🌟 In 2024, Wealthsimple celebrated 10 years of innovation, introducing features to meet Canadians’ evolving financial needs. The company is building “something better than a bank,” offering a comprehensive platform for investing, saving, and spending. Key highlights: ✅ Margin Trading: First lending product launched, tapping into Canada’s $38B margin trading market. ✅ Alternative Investments: Private market access for clients with $50K+, already managing $500M in investments. ✅ Crypto Expansion: 10 new currencies and fee-saving crypto swaps cement Wealthsimple’s crypto leadership. ✅ Savings Updates: Wealthsimple Cash now supports joint accounts, paycheque automation, and reimburses ATM fees, with $200M+ in interest paid to clients. ✅ FHSA Leader: Opened 1/3 of all First Home Savings Accounts in Canada. Exciting 2025 plans include USD chequing accounts, a credit card, and expanded advisory services. Wealthsimple continues to simplify financial management for Canadians at every stage of life.

Paystone, a leading Canadian fintech company specializing in payment processing and customer engagement solutions, has announced its acquisition of Ackroo, a provider of loyalty marketing, payments, and point-of-sale technology services. Ackroo, publicly traded on the Toronto Venture Exchange under the ticker AKR, is being acquired at a price of $0.15 per share, totaling approximately $21 million. Steve Levely, CEO of Ackroo, expressed his enthusiasm: "I am very happy for our shareholders, employees, and clients. This move creates a liquidity event for shareholders while positioning Ackroo’s product, team, and clients to benefit from a much larger private organization." Founded in 2009, Paystone's suite of automated payment processing, customer loyalty programs, gift card solutions, and reputation marketing software is utilized at 35,000 merchant locations across Canada and the United States, processing $10 billion annually in bankcard volume. This strategic acquisition marks a significant step in consolidating the industry and enhancing the combined entity's ability to provide comprehensive solutions to merchants of all sizes. #Fintech #Acquisition #LoyaltyMarketing #Payments #PointOfSale

In 2024, Alberta surpassed BC in venture capital investment, attracting $383 million across 41 deals. At the forefront of this growth? Fintech. 🏦✨ Start Alberta recently highlighted the top-performing fintechs in the province. Here are some standouts: Neo Financial 🚀 From partnerships with CI Financial to a record-breaking $360M Series D raise, Neo’s growth is unmatched. 🏅 Ranked #1 in Deloitte's Technology Fast 50 and Report on Business magazine’s Top Growing Companies. 📈 Growth: Over 150,000% in three years! ZayZoon 💸 Raised $20M to help small businesses offer employees early wage access. 🌟 Ranked in Deloitte’s Fast 50 and Fast 500 lists. 📊 Transforming payroll solutions for better hiring and retention. PayShepherd ⚙️ Secured $7M in funding to enhance financial tools for heavy industries. 🔍 Innovating billing management and contract assurance platforms. 🤖 Exploring AI integration for improved visibility and accountability. Helcim 💳 Raised $27M in Series B funding, expanding payment solutions across North America. 🛠️ Introduced Tap to Pay on iPhone and recurring payments automation. 🤝 Partnered with PatientSERV to streamline payment services. With this momentum, Alberta is solidifying its reputation as a Fintech powerhouse. 👏 Read more about these innovators driving the province’s economic growth.