The bottom fell out of Canadian FinTech funding in Q2 2022
Q2 2022 saw a dramatic 70 percent drop in FinTech funding YoY.
FinTech
Borrowell launches credit building program for renters
The program allows users to self-report rental payments.
F|T: The FinTech Times – A Caisse of bankruptcy
Plus: Stripe cuts internal valuation by 28 percent.
EQ Bank latest bank to join Flinks’ open banking environment
Another bank signs an open banking deal with a FinTech firm as Canada’s system is underway.
Financial rates comparison platform Ratehub receives “major” investment from Novacap
Novacap buys into financial education platform Ratehub amid increasing mortgage rates.
Payments Canada appoints Wealthsimple’s chief compliance officer to member advisory council
The appointment marks the only FinTech startup rep on the council.
Solana Ventures, Twitch co-founder buy into Bravo Ready’s play-to-earn, Web3 video game
Bravo Ready has secured $3.9 million in fiat and cryptocurrency.
F|T: The FinTech Times – Vena customers allege SOC compliance falsehoods
Plus: Voyager account holders likely won’t get all their crypto back.
As crypto crashes, WonderFi closes deal to acquire another regulated crypto trading platform in Coinberry
CEO describes collapse of unregulated crypto lenders as WonderFi’s “thesis playing out in real time.”
Fluence acquires SaaS startup Sturnis365 to expand European presence
Fluence’s second acquisition in six months gives the startup an end-to-end accounting solution.
Customer alleges Vena Solutions “falsely asserted” SOC report was independently audited
Vena Solutions confirms an “issue relating to SOC reports.”
F|T: The FinTech Times – Klarna and Stripe’s valuations drop, Three Arrows in free-fall
Plus: Coinbase providing “Geo Tracking Data” to ICE.
Goeasy plans to leverage its LendCare acquisition with online car sales startup Canada Drives
Financial services company makes $40 million equity investment, joins Canada Drives’ board.
FinTech chatbot startup Finn AI gets acquired by former partner Glia
Finn AI has also worked with Visa, BMO, and ATB Financial.
F|T: The FinTech Times – Crypto abandons Collision
Plus: Jeeves launches venture capital alternative for startups.