Canada

November 1, 2016 @ 8:37 pm By JD Alois  |  

The Ontario Securities Commission (OSC) is joining a growing roster of global securities regulators to acknowledge the shifting environment of finance and the need to better understand Fintech innovation. The OSC is now seeking applications for a Fintech Advisory Commmittee (FAC) that will advise staff… Read More

November 1, 2016 @ 4:59 am By Erin Hobey  |  

BMO Financial Group CEO Bill Downe today announced that Frank Techar is appointed Vice-Chair, BMO Financial Group, effective today;  Techar is currently the COO. Darryl White will succeed Techar as COO, BMO Financial Group, according to a release. During his 22 years with BMO Financial Group… Read More

October 31, 2016 @ 2:37 pm By JD Alois  |  

The Alberta Securities Commission (ASC) has adopted Multilateral Instrument 45-108 Crowdfunding (MI 45-108). The new rule is actionable immediately and introduces a crowdfunding prospectus exemption for issuers as well as a registration framework for funding portals. The ASC Stated the implementation of MI 45-108 follows… Read More

October 30, 2016 @ 12:12 pm By JD Alois  |  

The National Crowdfunding Association of Canada (NCFA Canada) recently held its annual event in Vancouver. VanFUNDING 2016 incorporated a “pitching showcase” and the winning companies were: ChatterHigh, Glance, My Green Space and Starling Minds. VanFUNDING was created to be all about boosting online and alternative… Read More

October 28, 2016 @ 4:12 pm By Samantha Hurst  |  

Earlier this week, Canadian peer-to-peer lending portal, Lending Loop, officially launched after completing its registration with the Ontario Securities Commission (OSC) and other securities regulators. Lending Loop was created by co-founders Cato Pastoll and Brandon Vlaar. Last year, the platform received a strategic investment from… Read More

October 26, 2016 @ 10:00 am By Samantha Hurst  |  

nanoPay, an early-stage fintech company based in Toronto that provides a secure, real-time payments platform, announced on Wednesday it has secured $10 million during a Series A funding round. Participants in the round reportedly included The Merchant Banking Division of Goldman Sachs, APAGM Services LLC… Read More

October 25, 2016 @ 10:02 am By Samantha Hurst  |  

On Tuesday, Toronto’s cloud-based mobile payment platform Dream Payments announced it was named the winner of the global investment challenge for fintech and digital health companies, VentureClash. The event was held on October 20th at Yale University. The company stated it was among almost 200 contenders… Read More

October 25, 2016 @ 9:27 am By Erin Hobey  |  

A new program partnership between AngelList and the Ontario Securities Commission (OSC),  is now available to investors in Ontario, reported BetaKit. Eligible investors can now invest in Creative Destruction Lab and NEXT Canada startups raising capital through an AngelList Syndicate, provided the startups are headquartered in, or have significant… Read More

October 21, 2016 @ 9:22 am By JD Alois  |  

Katipult has launched new software designed to power UK peer to peer lending platforms. Katipult has partnered with payment platform Mangopay in their European push.  Katipult, based in Canada, is a white label software provider that facilitates investment crowdfunding / P2P lending in over 20… Read More

October 18, 2016 @ 4:21 pm By Samantha Hurst  |  

On Tuesday, Canadian online lender for small businesses Thinking Capital announced the launch of its new artificial intelligent fintech chatbot, “Lucy.”  This new feature will enable business owners to instantly engage with Thinking Capital 24/7, starting on Facebook Messenger. Thinking Capital reported that Lucy would be able… Read More

October 17, 2016 @ 3:19 pm By Erin Hobey  |  

Adam Felesky and Paul Desmarais III today announced the closing of a new fund, Portag3 Ventures (“Portag3”), focused on the fintech sector. Felesky, a co-founder and former CEO of Horizons ETFs, has been named President and will run day-to-day operations at the fund. Paul Desmarais III,… Read More

October 12, 2016 @ 4:14 pm By JD Alois  |  

The National Crowdfunding Association of Canada (NCFA) will be hosting its 2nd annual Fintech and crowdfunding conference next week and this year the show is in Vancouver and has been labeled VanFUNDING 2016. The NCFA has included multiple enterprise conference partners this year including PayPal… Read More

October 11, 2016 @ 3:51 pm By Samantha Hurst  |  

FundThrough, a Canada-based invoice funding platform for small and growing businesses, announced on Tuesday it has raised $24.3 million during its second financing round, which was led by ScaleUP Ventures and included participation from Hedgewood, Klister Credit Corp., and OnWave Ventures. The company stated that… Read More

September 29, 2016 @ 8:06 am By Erin Hobey  |  

Canadian fintech company Lendified Holdings Inc. and its subsidiary and direct lender, Lendified Inc. announced today that their subsidiary Vault Circle Inc. has received an exempt market dealer license from the Ontario Securities Commission (OSC) for its investment business. This marks the achievement of a significant milestone not… Read More

September 28, 2016 @ 12:04 pm By JD Alois  |  

Speaking at the Toronto Region Board of Trade this week, Maureen Jensen, Ontario Securities Commission (OSC) Chair and CEO, delivered a wide-ranging keynote address that tackled the topic of Fintech, regulations and announced a forthcoming regulatory Sandbox for entrepreneurs. Jensen acknowledged the rise of Fintech… Read More

September 27, 2016 @ 7:29 am By Erin Hobey  |  

Financeit, a provider of home improvement financing solutions, has tapped Capital One Canada’s Ian Hanning as its new CFO to help lead the platform into its next stage of maturity, expanding its market share in the point-of-sale financing industry. “Fintech is still in its infancy stage in Canada but it… Read More

September 20, 2016 @ 11:02 am By JD Alois  |  

The National Crowdfunding Association of Canada (NCFA), has criticized Canada’s regulatory approach to crowdfunding in a public letter sent to the Alberta Securities Commission and Superintendent of Securities, Nunavut.  While the letter is addressed to the two entities it can be viewed as a proxy… Read More

September 15, 2016 @ 4:09 pm By Erin Hobey  |  

Financeit, a cloud-based point-of-sale financing platform, and Concentra, a wholesale finance and trust solutions provider for Canada’s credit unions, today announced the acquisition of TD Bank Group’s indirect home improvement financing assets, with a book value of approximately $339 million. As part of the agreement,… Read More

September 7, 2016 @ 11:41 am By Bret Conkin  |  

So you want to start a Crowdfunding Portal… In White Label Crowdfunding 101: Players & Profits, (Part II of our three-part series) we will introduce some of the primary white label vendors, sample sites and criteria for vendor selection to help you navigate the options…. Read More

August 30, 2016 @ 12:43 pm By Samantha Hurst  |  

On Tuesday, technology giant IBM announced it is set to join the fintech hub in Toronto’s MaRS Discovery District. The high profile company is said to be the first technology resident that will be located in the space, which is occupied by mainly financial services… Read More