2023 Fintech and Financing Conference & Expo

$57.9B deployed into fintech so far this year, Canada one to watch

Daily Fintech | Jessica Ellerm | Aug 22, 2018

KPMG pulse of fintech 2018 - $57.9B deployed into fintech so far this year, Canada one to watchThe KPMG Annual Pulse of Fintech report shows fintech investment continues to build.

$57.9B has so far been deployed in the first half of 2018, with investments across VC, PE and M&A already in excess of last year’s annual total.

Europe outstripped the US, at $14.2B and $26B respectively. The UK continues to be the bedrock of funding, bringing in a total of $16B.

And in what will come as good news for B2B plays, the report notes an ‘increasing emphasis on business-to-business fintech solutions’.

Nine out of ten of the biggest deals of the year surpassed $1B, with deal ‘line honours’ going to Ant Financial, who raised a staggering $14B.

From the KPMG report - Canadian Focus

Fintech market in Canada growing in particular around AI

Fintech market in Canada growing, particularly around AI The fintech market in Canada continued to evolve in the first half of 2018. In the first half of the year, Canada saw $263 million invested in fintech deals across VC and M&A, including a $65 million raise by Wealthsimple. This is a solid number, although off the pace seen in the second half of 2017, when $510 million was invested.

See:

A number of the larger financial institutions in Canada have recognized the need to invest in fintech and have made significant inroads in terms of both making investments and in developing partnerships to help move innovation forward.

AI continued to be one of the dominant focus areas for investors in Canadian fintech. Canada is seen as a global leader in AI innovation — with highly regarded specialists in Toronto, Montreal and Edmonton attracting significant investments to those cities. We continue to see banks acquire companies in the AI space, in part as a talent grab in order to fuel their own innovation activities. For example, in January 2018, TD Bank Group acquired AI predictive analytics firm Layer 6.

VC investors and fintechs preparing for payments modernization in Canada

The Canadian government is in the process of updating its Bank Act, which is expected to occur in 2019. The new legislation is expected to mandate some level of “open banking” similar to what has been recently implemented in the UK, Europe (PSD2) and Australia. Payments Canada is also undertaking a multi-year payments modernization initiative aimed at upgrading critical infrastructure, creating a real-time payments rail and providing greater access to the clearing system.

See: 

While both initiatives are currently in process, VC investors and fintechs recognize that change is coming and are jockeying to position themselves to take advantage of changes once they are implemented. US-based, infrastructure-focused, fintech Plaid, for example, recently expanded into the Canadian market.

Continue to the full article --> here

Download the KPMG 2018 Pulse of Fintech

 


NCFA Jan 2018 resize - $57.9B deployed into fintech so far this year, Canada one to watchThe National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: ncfacanada.org

Latest news - $57.9B deployed into fintech so far this year, Canada one to watchFF Logo 400 v3 - $57.9B deployed into fintech so far this year, Canada one to watchcommunity social impact - $57.9B deployed into fintech so far this year, Canada one to watch

Guest Post | Dec 1, 2022 We all spend more and more time online, yet staying safe is still an afterthought for many. We are accustomed to locking our homes or cars and checking if nobody’s peeking when using the ATM. But what about securing our files and passwords while making sure that the Internet Service Provider (ISP) or any third party cannot see what you do on the web? Ignoring online risks can be costly, especially compared to the investment you’d make to mitigate them. This applies not only to individuals but to small and big companies as well. And while the latter might have enough reserve to take the blow, one ransomware attack can spell the end of your startup. Here’s where a Virtual Private Network (VPN) for SMBs can help you out. What is a VPN? This online security and privacy tool enhances your safety by encrypting your internet traffic with a NASA-grade cipher. What’s more, it effectively hides your real IP address, meaning there’s no way to identify or attack your device directly. At the same time, your location stays hidden because you can connect to VPN servers from all over the world. Most importantly, it ...
Read More
Pixabay Danny144 VPN - $57.9B deployed into fintech so far this year, Canada one to watch
Incubella | Nov 30, 2022 Every year, Canadian Web3 companies continue to attract private investment, mostly from post-seed funding as the brightest ideas charge towards Unicorn status. Of the total $4 Billion CAD invested to-date in Canadian Web3 companies, the largest single private investment was Dapper Labs’ $305M USD Series C. There are currently 5 Canadian Web3 Unicorns, Axelar, Blockstream, Dapper Labs, Figment, & LayerZero Labs. The fastest to achieve Unicorn status is LayerZero Labs, founded in early 2021 and crossed the $1 billion USD valuation mark just over one year later after raising $135 million USD in March of 2022. See:  McKinsey: Beyond the Hype of Web3. Potential and Challenges Who is incubella?  As proven leaders in the Canadian web3 and blockchain space, Incubella is a startup incubator specialised in marketing, growing and developing projects built on blockchain in the Web3 ecosystem. Headquartered in Montreal, Canada, Incubella’s creatives have extensive experience building and executing growth marketing strategies for promising NFT, DeFi, Metaverse, and P2E (Play to Earn) gaming startups. Incubella’s complete report of the Canadian Web3 ecosystem is available to read here. View the original release --> here The National Crowdfunding & Fintech Association (NCFA Canada) is a financial ...
Read More
Canadian Web3 landscape 2022 - $57.9B deployed into fintech so far this year, Canada one to watch
Coindesk | Sam Kessler, Nelson Wang | Nov 29, 2022 Among the more unprecedented elements of the FTX saga has been the fact that Bankman-Fried, who was raised by two lawyers, can’t seem to keep his mouth shut despite mounting legal threats. Sam Bankman-Fried’s crypto empire blew up in spectacular fashion at the beginning of this month, and questions continue to swirl around the motives and mechanics that caused crypto exchange FTX and its sister company, Alameda Research, to collapse. See:  CB Insights: FTX ‘Bagholders’ — Investments and M&A Portfolio Map After cryptic tweet threads and a viral DM exchange with a Vox reporter in which he said “f**k regulators” and admitted that his philanthropic identity was largely manufactured for PR reasons, Bankman-Fried’s actual voice is being heard for the first time post-FTX collapse with newly released audio from Tiffany Fong – a crypto investor-turned-whistleblower who initially gained attention for leaking audio that showed Celsius Network, the now-bankrupt crypto lending platform, planned to use a cynical “crypto-based solution” to repay users of its Earn Lending platform. First audio interviews with SBF post-bankruptcy First interview with Tiffany Fong In this phone call interview, Sam Bankman-Fried or SBF, former CEO and founder ...
Read More
Phone interviews with SBF post bankruptcy - $57.9B deployed into fintech so far this year, Canada one to watch
Finance Magnates | Arnab Shome  | Nov 28, 2022 Coinsquare has become the latest victim of a security breach that has resulted in compromised users' personal details, the platform confirmed last weekend by sending an email to its customers. Data Breach: The exchange detailed that the breach exposed "customer names, email addresses, residential addresses, phone numbers, dates of birth, device IDs, public wallet addresses, transaction history, and account balances." However, the crypto exchange reported some "unusual activity on our platform" on November 19 and underwent unscheduled maintenance. Then, the exchange did not detail if it was a security breach. It also restored full service on Friday ahead of sending emails to costumes about the security breach. Risk: A breach of personal information can also result in more severe individual account targeting. These generally make identity theft and fraud much more accessible. A similar data breach of Australian telecom service provider Optus earlier this year prompted the country's financial market watchdog to warn financial brokers of the rising risks of identity theft. See:  Suspected Sanctions Breach? The UK Forces Crypto Exchanges to Immediately Report Coinsquare's response: "No passwords were exposed. We have no evidence any of this information was viewed by ...
Read More
Data breach hack - $57.9B deployed into fintech so far this year, Canada one to watch
Canada Today | Naomi Oliver | Nov 25, 2022 When Deputy Prime Minister Chrystia Freeland called the chief executive officers of Canada’s Big Six banks on Sunday in February before their government invoked the Emergencies Act, the CEOs stressed that the resources at their disposal were to support that to choke off the money pouring in from the convoy protests were limited. Accounts of at least three calls Ms Freeland made with bank CEOs over an eight-day period are contained in summaries dubbed “readouts” and in Ms Freeland’s handwritten notes from the meetings, which took place Thursday at the Investigating the Use of the Emergency Law. At that moment, banks needed court orders to freeze funds, CEOs said, which are slow to grant. To give banks the ability to freeze funds faster, the government needed to sanction protesters under the same financial crime laws it applies to terrorists, three [bank] CEOs said. They also called on the government to close loopholes in systems to monitor transactions by bringing a wider range of payment providers under stricter regulations. Ms Freeland’s first assignment was an attempt to involve the banks in ending the convoy protests and get the bankers’ help in assessing ...
Read More
Pexels Mohamed Almari hole in system - $57.9B deployed into fintech so far this year, Canada one to watch
Cointelegraph | Prashant Jha | Dec 1, 2022 CFTC has faced a lot of scrutiny in the wake of FTX collapse due to its ties with the crypto exchange and SBF’s efforts to put the committee as the key oversight body for crypto. The chief of the United States Commodity Futures Trading Commission (CFTC), Rostin Behnam, claimed Bitcoin is the only crypto asset that can be viewed as a commodity during an invite-only crypto event at Princeton University, reported Fortune. Behnam’s comments are quite a contrast to his early statements in October, where he claimed Ether could also be viewed as a commodity. See:  New U.S. Bill Gives Crypto Oversight to the CFTC The CFTC chief’s backtracking of his comments on ETH comes in the wake of heavy scrutiny of U.S regulators and accusations of corruption, with Republican lawmakers accusing the SEC chair of coordinating with FTX “to obtain regulatory monopoly.” Behnam said the committee has limited oversight powers and blamed the “matrix of regulators” as an imperfect system. However, he called for better collaboration among the long list of regulatory bodies to come up with formidable regulations. Continue to the full article --> here The Guardian | Alex Hern | Nov ...
Read More
Unsplash André François McKenzie Bitcoin - $57.9B deployed into fintech so far this year, Canada one to watch
OSC | Nov 30, 2022 TORONTO — Today, Ontario’s Minister of Finance Peter Bethlenfalvy released the following statement on the appointment of a new Chair for the Ontario Securities Commission (OSC).  “I am pleased to announce that Kevan Cowan will be appointed the new Chair of the Ontario Securities Commission, pending review by the Standing Committee on Government Agencies. Mr. Cowan has been a valuable member of the Board of Directors for the OSC and was key in providing recommendations to our government on capital markets as a member of the Ontario Capital Markets Modernization Taskforce Expert Advisory Group. With over 30 years of experience in the capital markets industry, Mr. Cowan will play a critical role in supporting our government’s vision to make the OSC a 21st century capital markets regulator. See:  Final Report: Ontario Capital Markets Modernization Committee Recommendations To move our vision forward, our government is implementing many of the recommendations made by the Capital Markets Modernization Taskforce. We have expanded the mandate of the OSC to include capital formation and competition in capital markets. We also separated the combined OSC Chair and Chief Executive Officer position into two distinct positions and established a new Capital Markets ...
Read More
Kevan Cowan - $57.9B deployed into fintech so far this year, Canada one to watch
IOSCO | Nov 2, 2022 The International Organization of Securities Commissions (IOSCO) has published a speech by Tuang Lee, Chair of IOSCO Fintech Task Force, on applying and adapting IOSCO principles to digital asset markets. Digital assets:  These refer to anything of value whose ownership is represented in a digital or computerised form, through a process called tokenisation. Broadly speaking, digital assets can refer to anything, including real assets like artwork and property, but today our primary focus is on crypto-assets and DeFi. International scrutiny:  On a global level, the International Monetary Fund (IMF) and the Financial Stability Board (FSB) are calling for more regulation of this sector. The FSB recently published, on 11 October 2022, two consultation papers on the international regulation, supervision and oversight of crypto-assets activities and markets – from a financial stability perspective. See:  Global Securities Wathdog IOSCO to Target Crypto Platforms IOSCO Fintech task force: As the global standard setter for the international capital markets, IOSCO sets the core Objectives and Principles,1 along with supporting recommendations and guidance, on how to regulate capital markets activities and associated risks (together, IOSCO’s principles). Our members adopt these principles, distilling them into detailed regulations domestically. IOSCO has the mandate and ...
Read More
applying IOSCO principles to digital assets Singapore fintech festival 2022 - $57.9B deployed into fintech so far this year, Canada one to watch
Guest Post | Nov 30, 2022 It’s without a doubt how technological advancements are revolutionizing how industries operate today. For instance, in the financial industry, there’s notable growth in terms of computer processing capabilities. And among the innovations today is Robotic Process Automation (RPA). What Is Robotic Process Automation (RPA) Robotic process automation refers to technology or software used to streamline rule-based or repetitive processes and workflow commonly carried out by humans. With such tools, companies can save time, money, and resources through automation in production and other operations. Customers, meanwhile, could also benefit from improved accuracy, efficiency, and service quality. RPA is gaining traction across telecommunications, customer service, manufacturing, and healthcare industries. Apart from these, RPA is also utilized in finance, particularly in various Fintech developments and applications. From traditional banking to blockchain technology, RPA is now widely used in the financial industry. With continued developments, automation can propel Fintech to further growth in the long run. If you’d like to know why RPA is key to Fintech growth, continue reading this article. 1. Can Open More Business Opportunities  The banking and finance sectors have become increasingly competitive, including interest and approval rates, banking convenience, and customer service. Thanks ...
Read More
AdobeStock 199672469 women makes mobile payment - $57.9B deployed into fintech so far this year, Canada one to watch
BankingDive | Gabrielle Saulsbery | Nov 28, 2022 Private firms are adopting a more defensive posture, delaying new funding rounds, planning for modest growth and addressing regulatory risks, according to a report. Regulatory challenges have doubled in importance to fintech leaders from 2021 to 2022, according to the results of a survey of 100 industry leaders released Monday.  Now, nearly half (47%) of respondents dubbed regulatory challenges their No. 1 concern. See:  EY Handbook: Key Priorities for Fintechs to Sustainably Grow from Start-up to Scale-up Could see it coming:  Survey data was collected Aug. 2 to Oct, 22, after several U.S. senators first put big-bank-owned fintech Zelle under a microscope due to fraud concerns. Shortly before the report came out, the Treasury Department declared a need for more oversight of the fintech sector and bank-fintech partnerships. Private fintech companies have been made obvious by double-digit percentage-point workforce layoffs at places like Brex, Chime and Stripe. Public fintech companies have seen their share prices cut at the knees — SoFi is down from $15.05 on Jan. 3 to $4.98 as of Nov. 23, and PayPal is down from $194.94 to $80.28 for the same period Hiring: Despite the recent layoffs, however, leaders of private fintechs are optimistic about the second half ...
Read More
Gartner peer to peer 2022 fintech insights - $57.9B deployed into fintech so far this year, Canada one to watch

 

Leave a Reply

Your email address will not be published. Required fields are marked *

6 + fifteen =