F|T: The FinTech Times – Canada lags in FinTech adoption

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STACK FinTech Times

Report: Canada has one of the lowest FinTech adoption rates in the world(BETAKIT)

Only 18 percent of Canadian survey respondents said they used two or more FinTech services in the last six months, compared to 33 percent globally.

STACK RECOMMENDS: Most Canadians are only $200 away from being unable to pay their bills(VICE)

“1/2 of Canadians $200 away from not being able to pay their bills while banks post record profits. It’s time to #BranchOut.”
– Miro Pavletic, CEO and co-founder of STACK

Funding for FinTech startups poised to hit a record in 2017(BLOOMBERG)

So far this year there have been 496 deals globally, raising a total of $8 billion, according to a new report from CB Insights.

Global VC FinTech investment attracts $6.5 billion in H1 2017(FINEXTRA)

Global VC investment for FinTech in H1 2017 attracted $6.5 billion of VC investment with 787 deals, a 45% decrease year on year, according to statistics compiled by Innovate Finance.

Financeit expands executive team with two new VP’s(BETAKIT)

Financeit has appointed Ryan D’Souza as its vice-president of sales, and Jennifer Honey Brannon as its vice-president of human resources.

Visa makes strategic investment in card processing startup Marqeta(TECHCRUNCH)

Visa is making $25 million strategic investment in Marqeta, which has developed low-code technologies that enable businesses to manage their own transaction processing.

Dubai aims to be a city built on blockchain(WSJ)

Dubai’s government plans to conduct a majority of the emirate’s business using blockchain, which it expects will make government services more efficient and help promote enterprise in Dubai as it will become easier to do business there.

Former president and CEO of Hudson’s Bay Company joins Smooth Commerce’s advisory group(BETAKIT)

Smooth Commerce, a mobile payment and marketing platform for retailers, has appointed Bonnie Brooks to its advisory group.

Zego raises £1M to give gig-economy drivers a pay-as-you-go insurance platform(TECHCRUNCH)

The London-based insurtech startup raised the seed funding from LocalGlobe and FTSE 100 company Aviva.

Credit scoring startup Aire raises $5M; wins Zopa deal(FINEXTRA)

Sunstone Capital led the financing round, which was also joined by previous investor White Star Capital.

Preparing for disruption: FinTech and the Fortune 500(FORBES)

Despite being larger and better funded, Fortune 500 financial companies often fall short of their small and scrappy competitors that bring to life the “less is more” concept – operating at lower costs and using smaller teams and minimal regulation to their advantage.

Cleo, a chatbot that wants to replace your banking apps, raises £2M led by LocalGlobe(TECHCRUNCH)

The follow-on funding round is led by LocalGlobe, with participation from Skype founder Niklas Zennström, Entrepreneur First (EF), and Jason Goodman, the founder of advertising agency Albion.

nanopay gets strong scores from the US Federal Reserve’s Faster Payments Task Force(BETAKIT)

The United States Federal Reserve is studying ways to facilitate faster payments in the US.

Baidu teams up with PayPal to take its Chinese mobile wallet global(TECHCRUNCH)

The arrangement will allow the Baidu’s 100 million mobile wallet users to make payments to PayPal’s 17 million merchants through the Baidu service.


Amira Zubairi

Amira Zubairi is a staff writer and content creator at BetaKit with a strong interest in Canadian startup, business, and legal tech news. In her free time, Amira indulges in baking desserts, working out, and watching legal shows.

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