F|T: The FinTech Times – Canada’s tangled regulations

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.

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STACK FinTech Times


BetaKit

FreshBooks raises $57 million to invest in North American expansion

FreshBooks also plans to invest in product development.


STACK

STACK RECOMMENDS: Ottawa unveils ‘supercluster’ innovation plan

“A Federal backed plan shows Canada’s commitment to driving and leading global innovation.”
– Miro Pavletic, CEO and co-founder of STACK


BI

A new FinTech startup wants to democratize trust funds

Tomorrow, which aims to provide millennials with trust funds to guarantee their financial security, has raised a $2.6 million seed round from backers including Plug and Play, Allianz Life, and Curious Capital.


BetaKit

Borrowell raises $57 million from Portag3, FirstOntario Credit Union

The company, which offers free credit scores and financial recommendations, is hoping to invest in data science and AI capabilities.


Finextra

Finstar commits $150M to FinTech investment

Finstar plans to use the money to buy stakes in promising FinTech startups in Europe, Latin America, Southeast Asia, and South Asia, as well as on research and development in portfolio companies.


VentureBeat

Digital banks must diversify or die: The lesson from Revolut’s $66 million raise

Digital banks are one of the hottest investment sectors in fintech right now, as Revolut’s recent $66 million series B shows. However, look more closely and it’s clear the era of digital-only challenger banks may actually be coming to a close.


Crowdfund Insider

FinTech startup Receipt Bank raises $50 million through Series B funding round led by Insight Venture Partners

Receipt Bank, a bookkeeping automation platform that automates the collection and data extractions of receipts and invoices, plans to use the funding to accelerate growth and further develop its products.


BetaKit

Street Contxt expands its sell side platform to buy side investors

The platform is targeted to hedge funds, pension funds, and institutional asset managers.


Finextra

German FinTech factory FinLeap raises €39 million

The funding was led by Hitfox-Group, with participation from Signal Iduna, SBI Group, and NIBC.


Forbes

Banks that don’t invest in technology risk falling behind permanently

According to a recent report by Kevin Wack in American Banker, many banks are paying “a sizable price for failing to modernize their mortgage application processes in the internet age.”


Finextra

Mastercard and Scotiabank join Enterprise Ethereum Alliance

Mastercard and Scotiabank are joining EEA as part of a wave of 34 new members signing up for the project to promote the uptake of Ethereum as the foundation for running smart contracts in Fortune 500 enterprises.


VentureBeat

WeWork launches joint venture with SoftBank to bring its shared work spaces to Japan

The new JV, which will be known as “WeWork Japan,” will be 50 percent-owned by each company and will enable the New York-based tech firm to gain a solid foothold in a potentially sizeable and lucrative market.


BetaKit

How to navigate Canada’s tangled regulations and build your FinTech startup

Ferst Digital created a guide to understanding FinTech regulations in Canada.



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Amira Zubairi

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.