F|T: The FinTech Times – Canada’s financial strain

Borrowell Molly

Welcome to the FinTech Times, a weekly newsletter covering the biggest FinTech news from around the globe. If you want to read F|T before anyone else, make sure to subscribe using the form at the bottom of this page.

Trudeau announces 75 percent wage subsidies, interest-free loans for Canadian small businesses(BETAKIT)

The 75 percent wage subsidy will be available for “qualifying businesses” for up to three months and will be retroactive until March 15.

Borrowell survey shows financial strain Canadians are under amid pandemic(BETAKIT)

A new survey conducted by Toronto FinTech startup Borrowell has found that three in four Canadians are experiencing financial stress due to COVID-19.

UK FinTech community comes together to build Covid Credit and let sole traders self-certify lost income(TECHCRUNCH)

The app uses the Credit Kudos API and aggregates data from an individual’s bank accounts, applying a number of pattern recognition algorithms in order to calculate key income figures.

Startup raises $8.25M to help physicians track payments(MEDCITYNEWS)

Rivet, a startup that helps providers keep track of insurance contracts and billing, closed an $8.25 million funding round.

FinTech lenders urge government to expand COVID-19 loan measures to better support small businesses(BETAKIT)

A group of FinTech and alternative lenders are calling on the federal government to extend its current economic stimulus plan to include alternative lending.

Stripe leads $20M Series A into Fast, which is building a universal checkout service for e-commerce(TECHCRUNCH)

Coming in late March, the new capital is a quick-follow to Fast’s November seed round.

Lighter Capital expands debt financing business to Canada(BETAKIT)

Lighter Capital, a Seattle-headquartered financing lender, is making its debt financing offerings available to the Canadian market.

Citigroup raises investment in Ethereum-based trade finance startup(COINTELEGRAPH)

U.S.-headquartered bank Citi has upped its investment in the Ethereum-based decentralized trade financing startup Komgo.

Brex acquires three companies to build out its bank alternative for startups(TECHCRUNCH)

Brex wants to help startups get the money that traditional big banks won’t lend them, and it just acquired three companies to help it do so: Neji, Compose Labs and Landria.

Payments startup SpotOn raises $50M to boost product development(SILICONANGLE)

The Series B round was led by 01 Advisors and included Dragoneer Investment Group, Franklin Templeton and EPIQ Capital Group.

Caitlin Hotchkiss

Caitlin Hotchkiss

Content coordinator, social media smartypants, wordsmith, Human Workflow™. Exists primarily on coffee, cat pictures, German dance metal, and pro wrestling. I will fight for your right to the Oxford comma.

0 replies on “F|T: The FinTech Times – Canada’s financial strain”