Value of Power Corp’s FinTech portfolio drops as Wealthsimple faces second May markdown
Power calls decrease in fair value of Wealthsimple stake “consistent” with broader stock market decline.
FinTech
FinTech earnings week: revenues up for Nuvei, Propel, Mogo, Payfare
Net income is another matter.
F|T: The FinTech Times – The Neo Unicorn
Plus: Applications are open for the Calgary FinTech Awards.
White Star Capital, Coveo alum-led Lighthouse Labs closes $9.1 million CAD to build a search platform for the metaverse
Montréal’s Lighthouse Labs aims to “be the Google” for virtual worlds. What the hell does that mean?
Dapper Labs launches $725 million ecosystem fund for Flow blockchain innovation
The fund is a joint commitment with participation from a16z, Coatue, Coinfund, others.
Platform Calgary opens applications for Calgary Fintech Awards
Participating startups get a chance to win up to $250,000.
Neo Financial joins Canada’s unicorns as Peter Thiel’s Valar triples down with $185 million round
Wealthsimple had Paul Desmaris to fuel its growth; Neo has Peter Thiel.
PayTic raises $2.95 million to help banks, credit unions centralize program management
PayTic wants to remove Excel spreadsheets from payment reconciliation.
Pocketed co-founders pocket $25,000 prize money in pitch contest for women entrepreneurs
Pocketed, which helps businesses find grants, gets granted with $25,000.
F|T: The FinTech Times – Flutterwave’s reputation falters
Plus: OneVest secures $5 million to help companies like Neo Financial launch wealth management products.
Square makes loans offering available for Canadian small businesses
Loans follow the launch of Square card for small businesses.
Stellar, Genesis among crypto orgs backing Stablecorp in $1.9 million CAD round
Stablecorp wants to increase transparency, security in blockchain transactions.
OSC reveals seven companies to join testing lab to improve client interactions
Mako, TMX Group, others will test solutions made to know their clients, products better.
OneVest secures $5 million to help companies like Neo Financial launch wealth management products
CEO: “What Stripe has done for payments, we’re doing for wealth.”
F|T: The FinTech Times – Canada’s crypto consolidation
Plus: Beanstalk cryptocurrency project robbed after hacker votes to send themself $182 million.