F|T: The FinTech Times – Neo is the One

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.


Neo Financial secures $64 million CAD led by Peter Thiel-backed Valar Ventures (BETAKIT)

The three-year-old startup closed a $64 million CAD Series B round this summer led by Peter Thiel-backed Valar Ventures, which also led Neo’s Series A financing.


When COVID rocked the insurance market, this startup saw opportunity (PROTOCOL)

Ethos has outraised and outmarketed the competition in selling life insurance directly online — but there’s still an $887 billion industry to transform.


Foxquilt raises $8 million Series A round to accelerate US expansion (BETAKIT)

The fresh funding brings Foxquilt’s total funding to date to around $14 million CAD.


FinTech leaders say federal parties’ promises aren’t enough to help Canada compete (THE LOGIC)

“We have created a non-competitive FinTech system relative to our international peers.”


Following Google accelerator nod, Paperstack attracts $250,000 pre-seed round, interest from Canada’s unicorns (BETAKIT)

Employees from Shopify, Clearbanc, and Wealthsimple contributed to the round of pre-seed financing worth $250,000 CAD, according to the startup.


U.S.’s Binance probe expands to examine possible insider trading (BNN BLOOMBERG)

As part of the inquiry, U.S. officials have been looking into whether Binance or its staff profited by taking advantage of its customers, said people with knowledge of the matter who asked not to be identified because the probe is confidential.


Rebranded Nuula secures $120 million for real-time data app, loan offering for small businesses (BETAKIT)

The company was formerly known as BFS Capital, which began its transformation to a company with a real-time data and analytics app in 2019 when it opened a Toronto engineering hub.


Avalanche raises $230 million from private sale of AVAX tokens (TECHCRUNCH)

Proceeds from the private sale will be used to support the Avalanche ecosystem, which is relatively nascent when you compare it to the Ethereum blockchain, for instance.


Irwin raises $25 million CAD as investor relations startup claims increased demand due to pandemic (BETAKIT)

The funding comes as the company claims a surge in product demand during the COVID-19 pandemic.


Walmart, GlobeNewswire probe fake statement on crypto deal (BNN BLOOMBERG)

Walmart Inc. and a press-release distributor are investigating a hoax tying the retailer to a supposed cryptocurrency deal after an announcement, later determined to be false, caused a short-lived surge in Litecoin through a highly unregulated market.


Facebook makes payments product available off platform, starting with US Shopify merchants (BETAKIT)

In June, Shopify announced that Shop Pay will also be available to non-Shopify merchants selling on Facebook and Google.


Afterpay, Wrapbook expand teams (BETAKIT)

Afterpay looks to capture a larger segment of the country’s BNPL market.


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Josh Scott

Josh Scott

Josh Scott is a BetaKit staff writer who loves to tell Canadian business and tech stories. His coverage is more complete than his moustache.