National Bank acquires Silicon Valley Bank’s Canadian commercial loan portfolio
The $1-billion CAD portfolio includes $325 million CAD in outstanding loan commitments.
FinTech
F|T: The FinTech Times – Stripe to power Shopify’s new business credit card
Plus: How the partnership between Apple and Goldman Sachs soured.
Luge Capital’s David Nault on making investment decisions through the AI hype cycle
Nault: AI is the “latest shiny thing that a lot of people are running after.”
DeFi company Wellfield inks deal to acquire crypto custodian Brane Trust
Canadian crypto consolidation continues with Toronto, Ottawa firms set to join forces.
Foxquilt raises $12 million to expand small business insurance solution in North America
Foxquilt uses data analytics and AI to match businesses with insurance products.
Shopify reveals AI suite, business credit card, dropshipping-like feature in latest product showcase
Canadian rapper Drake launched his website Drake Related using Shopify Collective.
MindBridge closes $60 million USD from US growth equity firm, appoints interim CEO
AI-powered auditing-tech firm adds new interim leader as CEO and founder depart.
F|T: The FinTech Times – Backers buy back Clearco’s debt amid SVB Canada windup
Plus: Hutsy takes home two wins at Startupfest.
Nuvei, Plaid extend payments partnership to expand to different regions and businesses
The FinTech company and payments startup are joining forces to roll out more features.
F|T: The FinTech Times – WonderFi completes three-way merger in landmark Canadian crypto deal
Plus: Dapper Labs makes third round of layoffs, Revolut loses $20M to theft.
Dapper Labs makes third round of layoffs since November as crypto winter continues
NBA Top Shot creator lays off 51 people amid NFT market struggles.
F|T: The FinTech Times – Binance unravelling, Kraken founder investigated by FBI
Plus: Mastercard’s new AI tool helps British banks tackle scams.
WonderFi, Coinsquare, CoinSmart merge as landmark Canadian crypto deal closes
The merger comes during a challenging time for the crypto industry.
Tiptap and Omnirobotic pursue restructuring after startups fail to raise additional funding
As VC financing has dried up, a growing number of Canadian tech firms are running out of cash.
F|T: The FinTech Times – Stripe & Robinhood make layoffs, Financeit acquires competitor
Plus: FTX considers a reboot?