Impression Ventures raises $20 million fund dedicated to early stage FinTech companies

Toronto-based Impression Ventures Fund II announced the close of $20 million for its fund, which will be dedicated to early stage FinTech companies across Canada.

Anchor investors in Fund II include FairVentures, a subsidiary of Fairfax, as well as family offices. In its first fund, Impression Ventures has invested in FinTech companies like Sensibill, Wealthsimple, and HonkMobile.

Impression Ventures is adding several new advisors, including Claudia Hepburn, one Canada’s Top 25 Women of Influence, and Steve Dengler, founder of XE. At the same time, the firm is partnering with FairVentures to make investments in insurance-related opportunities.

“Impression Ventures has a strong record of finding quality early-stage financial technology companies,” said Paul Rivett, president of Fairfax. “We are very pleased to partner with Christian and his team as we continue to seek out innovative companies and technologies to support and grow the Fairfax group over the long term.”

Fairventures is currently based in Communitech, where the firm is looking to work with startups in the insurance space.