F|T: The FinTech Times – Now in Canada: Hiive’s VC secondary trading platform

Hiive's co-founders
Hiive's co-founders.
Plus: QED closes on $925M to back FinTech startups globally.

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.

With regulatory approval, Hiive launches VC secondary trading platform in Canada (BETAKIT)

Vancouver-based FinTech startup Hiive has rolled out its venture capital secondary marketplace to Canadians after announcing it has received registration across Canada as an exempt market dealer.

QED closes on $925M to back fintech startups globally (TECHCRUNCH)

QED Investors announced the closing of two new funds totaling $925 million, capital that it will be using to back early-stage financial technology startups, as well as growth rounds for later stage companies.

Evaluating UCP and NDP plans for tech as Alberta’s election day approaches (BETAKIT)

Advance polling for the 2023 Alberta general election has already begun. What’s on the table for the province’s tech sector?

Here's what Canadian tech can expect from the United Conservative Party and New Democratic Party leading up to and following Alberta's provincial election on May 29.

2023 Canadian Private Technology Conference

Hosted by RBC Capital Markets.

After an explosive period of record growth and investment activity in 2022, there were early signs last year that the technology sector was veering in a different direction. A confluence of geopolitical tensions and economic pressures drove market volatility throughout the year, with 2022 closing on an ambivalent note.

What does this year have in store for the Canadian Technology sector? Find out at our 2023 Private Technology Conference, which will feature inspirational keynotes, fireside chats and panels on emerging and disruptive technology.

Find out more.

With Binance's exit from Canada, OSC head says crypto crackdown has settled the big issues (THE LOGIC)

Binance was the last major international platform to either withdraw from the country or sign an agreement to follow certain rules while pursuing registration, with no more big-name crypto firms operating in a regulatory grey area. In an interview with The Logic, Ontario Securities Commission CEO Grant Vingoe said he feels regulators have reached an inflection point in their crackdown on the sector.

Summer camp for Canadian tech is back:
Startupfest returns July 12-14

Startupfest has announced its Big Picture Agenda, highlighting some of the major attractions coming to the Montreal technology festival when it kicks off July 12.

Use this BetaKit-supplied 15 percent discount code for your Startupfest tickets so we can see you in Montreal!

Paradigm broadening crypto-only focus to areas including AI

Crypto venture capital firm Paradigm, one of the most established and active players in the space, is going beyond just blockchain and highlighting a focus on a broader array of "frontier tech" that includes artificial intelligence.

“There’s a revolution in the wings”: Why Canada’s semiconductor industry needs an overhaul (BETAKIT)

Niraj Mathur, co-founder of Blumind, discusses his experience building a deep-tech company in Canada and why he feels the semiconductor industry is due for an all-out revolution.

Securities Commissions Share 18-point Global Crypto Framework (BLOCKWORKS)

As part of the framework, the International Organization of Securities Commissions proposed 18 crypto policy recommendations in a recent consultation report. The recommendations cover six key areas: conflicts of interest, market manipulation, cross-border risks, custody and asset protection, operational and technological risk and retail access.

Opinion: Laid-off tech employees are overlooking public service (BETAKIT)

Code For Canada's Dorothy Eng argues that tech professionals would enjoy the challenge of designing solutions for everyone in Canada, not just those who can afford them.

Sam Altman’s Crypto Project Worldcoin Raises $115M, Led By Blockchain Capital (COINDESK)

Co-founded by OpenAI CEO Sam Altman, Worldcoin's nine-figure funding round is a rare sight during an extended crypto bear market that has slowed venture capital investments in the space to a trickle.

The capital will help accelerate research and development and growth efforts on the Worldcoin project and the World App, the first crypto wallet for the Worldcoin ecosystem.

Bloom raises $7 million to make applying for reverse mortgages easier (BETAKIT)

Toronto-based Bloom has raised $7 million in Series A funding CAD to make applying for reverse mortgages easier.

Bloom said its platform has been actively expanding since it launched in 2021. It claims to have extended nearly $100 million CAD to homeowners in Ontario and British Columbia to date.

South African challenger bank TymeBank raises $77.8M from Norrsken22 and Blue Earth Capital (TECHCRUNCH)

South African digital banking platform TymeBank has raised $77.8 million in a pre-Series C round led by African-focused growth-stage fund Norrsken22 and Swiss global impact investment firm Blue Earth Capital.

Launched in February 2019, TymeBank offers a transactional bank account with low monthly fees and a savings product to its customers.

Small business banking platform Vault launches with backing from Google’s Gradient Ventures (BETAKIT)

Vault is the latest Canadian startup looking to make banking easier for small-to-medium-sized businesses, securing $5 million CAD in funding to date.

While Shafik and Aziz see their platform as unique, they are far from the first entrepreneurs who have seen a need to make Canadian banking easier for SMBs.

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Alex Riehl

Alex Riehl

Alex Riehl is a staff writer and newsletter curator at BetaKit with a Bachelor of Journalism from Carleton University. He's interested in tech, gaming, and sports. You can find out more about him at alexriehl.com or @RiehlAlex99 on Twitter.

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