Canadian fintech investment surge to almost $5bn

New reports and data have shown that fintech firms within Canada attracted investments worth a total of US$4.8 billion during a half-year timeline.

The value of deals made in just two quarters of 2021 has now exceeded the previous year-end value recorded in 2017. 

The key drivers of this figure are mergers and acquisition deals, especially the US$2.7 billion acquisition of cybersecurity firm Verafin by Nasdaq.

As many startups within the country begin to reach their stage of maturity, investor confidence has gained momentum, leading to an increase in venture capital deals. This is exemplified in Wealthsimple’s US$600 million funding round, and many other major deals.

Analysts forecast that the trend of investment in fintech firms will continue to rise, especially as digital currencies, payment solutions, and Artificial Intelligence-driven innovations become a more attractive investment opportunity.