F|T: The FinTech Times – ‘The Amazon of the insurance industry’

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.

Silicon Valley FinTech, Plaid, expands coverage in Canada (BETAKIT)

Plaid also closed a $250 million USD Series C funding round in December.

Brought to you by:

Who attends TechExit.io? (TECHEXIT)

Meet some of Canada’s most successful entrepreneurs with a track record of successful exits.

FinTech investment in Toronto region grows by 10 times over five years, report finds (BETAKIT)

Toronto has the largest FinTech ecosystem in Canada, accounting for about 43 percent of all FinTechs.

Investment platform Ellevest raises $33M from Melinda Gates’ Pivotal Ventures, Valerie Jarrett & PayPal (TECHCRUNCH)

Ellevest also recently launched a new product, Ellevest Private Wealth Management, designed for high-net-worth clients, which now has $100 million in assets under management.

Financial management startup Carta is raising new funding at a $1.8 billion valuation (BLOOMBERG)

The company helps venture capitalists, as well as startup employees and other stakeholders, track and manage the shares that they own. It also helps companies manage other aspects of their stock, such as fair-market valuations and secondary sales.

Hong Kong-based FinTech startup Qupital raises $15M Series A to expand in mainland China (TECHCRUNCH)

CreditEase, which provides loans and other financial services for SMEs in China, will act as a strategic investor, aiding with Qupital’s geographic expansion.

Finaeo raises $5.35 million CAD to help create ‘the Amazon of the insurance industry’ (BETAKIT)

“Think about how Amazon brings together the buying journey for different suppliers and makes it really simple for us to buy things, we’re doing that same thing for insurance,” says Finaeo co-founder and CEO Aly Dhalla.

FinTech startup Rewire raises $12 million (CALCALIST)

Rewire develops a mobile banking platform for international cash transfers for foreigners without a local bank account.

Scotiabank launches digital platform for online mortgage applications

Scotiabank jumps into digital mortgages, following TD’s digital mortgage tool and Canadian startups working on similar tech including Homewise and MogoMortgage.

Cross-border FinTech startup Airwallex raises $100M at a valuation of over $1B (TECHCRUNCH)

Started in Melbourne in 2015 by four Chinese founders, Airwallex provides a service that lets companies manage cross-border revenue and financing in their business much like an alternative to consumer-focused service TransferWise.

Coinberry, Innisfil partnership makes it first Canadian municipality accepting crypto (COINBERRY)

Along with this partnership, Coinberry is also announcing the launch of Coinberry Pay.

Pirs Capital Secures $15M in Financing (FINSMES)

Pirs Capital is a direct lender combining financial expertise with quality customer service to build lifelong relationships with clients to ensure mutual success.

Government proposing new framework to regulate Canadian retail payment ecosystem (BETAKIT)

“The proposed retail payments oversight framework acknowledges the shifting payments landscape and is an important step,” says Gerry Gaetz, president and CEO of Payments Canada.

Matador Raises $9M in Seed Financing (FINSMES)

Metador, which provides a mobile app for young people to grow their money, raised the funding from Accell and Greycroft.


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.

0 replies on “F|T: The FinTech Times – ‘The Amazon of the insurance industry’”