Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Entrepreneurs, Start-ups, Small Businesses
BanPay Builds Global Pay Rails for Freelancers
Fintech in Canada | July 9, 2025
Image: Banpay website
New Canadian fintech listing on FintechCanada.io: BanPay
BanPay is a new listing on NCFA's Fintech Canada directory, which spotlights Canadian fintech innovators to Canadian and global markets and helps build visibility for emerging Canadian fintech firms working on real-world problems.
BanPay is a Vancouver-based fintech that is building real-time payment infrastructure for digital professionals around the world. With millions of freelancers still struggling to get paid quickly and affordably, BanPay is working to make cross border payments as easy as local ones.
The company offers a simple solution: freelancers in over 120 countries can receive payments via local bank deposits or mobile money. Businesses and platforms can send payments through BanPay’s API or dashboard, reducing friction for marketplaces, agencies, and remote teams.
See: Crypto Enters the Core of Canadian Payments
BanPay’s pricing model is transparent, and its onboarding process is designed to be fast. According to the company’s website, businesses can start paying contractors internationally within 48 hours of signup.
Why It Matters
The rise and growth of freelance, remote, and borderless work has outpaced legacy payment systems. By building compliant, digital-first rails for cross border earnings, BanPay is well positioned to serve a growing market with unmet needs. Its model supports Canada’s competitiveness in digital finance and adds to the country’s exportable fintech capabilities.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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BC Backs VR and Gaming Studios With Tax Credit Boost
BC Fintech Tax Credit | July 8, 2025
Image: Freepik
BC Government Increases Digital Media Tax Credit to 25% Permanently
British Columbia is making perman Interactive Digital Media Tax Credit (IDMTC) and raising the rate to 25%, effective September 1, 2025. The expanded credit applies to qualified salaries and wages for the development of video games, virtual reality (VR) applications, educational software and simulators.
The IDMTC was first introduced in 2010. The 25% rate was recently put on the table as a temporary increase under Budget 2025 which is now being made permanent. It replaces the earlier 17.5% baseline rate and is aimed at helping creators retain staff, attract capital, and grow jobs in the province’s interactive digital media sector. According to CreativeBC, the industry contributes over $1 billion to provincial GDP and supports over 20,000 jobs.
David Eby, BC Premier, said that it will boost long term investment:
“This tax credit will help game developers hire, attract new investment and keep building some of the best games in the world.”
See: Fintech Grows 3x Faster, 97% of Market Still Untapped
Brenda Bailey, Finance Minister and former game developer, emphasized the impact on both indie and enterprise studios:
“Whether they are a software engineer at a VR developer or an artist at an independent game studio, we stand by our developers.”
The province also announced:
- Additional $30 million CAD investment in its Integrated Marketplace Initiative, designed to help BC companies pilot and scale new tech products
- Raised the venture capital tax credit limit to $300,000 per investor per year to attract more early stage capital
There are currently 161 video game companies and 230 immersive tech firms operating in BC, many of them with fewer than 10 employees. Global developers with a presence in the province include Microsoft, Nintendo, EA, Take-Two, and CD Projekt Red.
Why This Matters
This permanent tax credit increase will strengthen the planning outlook for studios, venture funds, and fintechs financing interactive media. Companies using revenue-based financing or IP-backed lending models now will be operating in a more stable tax environment.
See: U.S. Tax Bill Could Drive Capital Back to Canada
Investors and lenders can model developer cash flow with improved accuracy, especially for VR and immersive media startups that operate on tight burn rates. For full details, visit the official IDMTC program page.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Botpress Raises $25M USD to AI Agent Infrastructure
AI Agents | June 27, 2025
Image: Freepik/kjpargeter
Botpress Secures USD 25 million to Expand Autonomous Agent Infrastructure
On June 23, 2025, Quebec-based company Botpress CEO Sylvain Perron announced that they raised USD 25 million Series B financing to scale its infrastructure platform for autonomous AI agents. The round was led by OpenOcean, with participation from Decibel and Inovia Capital. The funds will expand Botpress’s global infrastructure, custom inference engine, secure execution systems, and developer tools designed to move agents from early demos into full production.
See: Why No Code AI Agents Matter for Fintech in Canada
Botpress provides a developer-first platform that supports both no-code and full-code agent design. Its open core framework has already powered millions of agent executions in over 190 countries. This latest investment confirms the growing demand for reliable, professional agent tooling as businesses look towards autonomous systems to gain efficiency and competitive edge.
Key Facts of this Financing
- Company: Botpress
- Headquarters: Quebec City and Montreal
- Round: USD 25 million Series B
- Date announced: June 23, 2025
- Lead investor: OpenOcean
- Other investors: Decibel, Inovia Capital
- Funding use: Infrastructure, developer tools, inference engine, platform scaling
- Website: botpress.com
Building the Infrastructure Layer for AI Agents
Botpress is developing, a long term reliable infrastructure layer that operates between large language models (LLMs) and business systems. This is the infrastructure that enables agents to run at scale and across industries, from fintech operations to enterprise customer support.
See: The Agentic Web Begins. Coinbase Launches ‘Base Agent’
The platform includes:
- A fully isolated runtime for each agent
- A custom inference engine that supports reasoning, tool orchestration, and multi-step logic
- A safe execution layer that lets agents generate and run code without compromising systems
- Structured components such as workflows, file systems, and user states
- Full deployment pipelines with version control and observability
Why it Matters for Fintech and Platform Builders
As explained in How real-time agentic AI will boost fintechs, many financial services companies are adopting agents to automate onboarding, compliance, and customer interaction workflows. Botpress helps make these deployments feasible by offering runtime safety, memory, structured outputs, and continuous improvement tooling.
The company is also tackling the challenge of handling complex decisions across systems (reasoning at scale), a concept explored in How PhD-level AI agents will change financial services, where intelligent agents are expected to operate across complex processes with autonomy and accountability.
Its modular architecture complements the trend of more companies using external systems to control and guide what AI agents do like OpenAI’s Operator, discussed in OpenAI to launch Operator to redefine task automation, by offering developers control over how agents interact with APIs, data, and users in real-time.
Outlook
Botpress's funding round means even more capital towards building the AI agent ecosystem. By focusing on infrastructure and developer experience, it is helping bring agents into regulated and critical environments.
See: OpenAI to Launch ‘Operator’ to Redefine Task Automation
For companies investing in AI systems that need to proactively 'act' (autonomously), and not just respond, Botpress capabilities offers a robust foundation for a wide array of solutions to support long term adoption and scale. As more companies adopt real-time agents, Canada's fintech sector has an opportunity to get ahead on infrastructure design and agent deployment.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Coinbase MiCA Licence Unlocks Europe Wide Crypto Access
Coinbase | June 25, 2025
Image: Freepik/macrovector
Coinbase’s EU Licence Highlights How Unified Crypto Rules Unlock Market Access (while Canada faces pressure to modernize)
Coinbase secures a Markets in Crypto Assets (MiCA) licence in Luxembourg and unlocks access to all 27 EU member states under one regulatory framework. The licence allows Coinbase to provide regulated custody, trading, and token services across Europe without reapplying in each country.
MiCA is the EU’s first unified crypto regulation. It sets common rules for disclosures, capital requirements, and consumer protection. Coinbase is among the first major global exchanges to receive full MiCA approval, joining a wave of early adopters now operating across the EU under a unified licence. Market wide compliance in the EU is now real, and opens up a single market of 450 million people under consistent regulatory oversight.
Canada’s Regulatory Challenge
Canada uses a mix of federal registration through FINTRAC and provincial securities oversight. While there is a securities passport system under the Canadian Securities Administrators (CSA), it's not uniformly applied across all provinces. Ontario, for example, requires dual filings. The system also does not unify crypto regulation or streamline compliance across federal and provincial levels.
See: U.S. Passes First Stablecoin Law with GENIUS Act
In contrast, MiCA offers a single licence with direct access across all EU countries. For Canadian fintechs, this structural difference adds complexity and slows growth. Canada’s fintech sector must now compete with peers operating under unified rules, faster timelines, and lower costs.
Canada's Missed Opportunity
In a June 2025 opinion piece for Cointelegraph, Jillian Friedman, COO of Symbiotic, warned that Canada risks losing ground:
“While other countries move toward integrating crypto into their financial systems, Canada is lagging, costing the country capital, talent and competitiveness.”
Crypto policy was grossly missing from all federal party platforms during the 2025 election, a “missed opportunity” at a time when early-stage VC activity is dropping and top STEM talent continues to leave. Friedman doubled down on Canada's issues including:
- Canadian seed-stage VC deals hit pandemic-era lows in Q1 2025 (according to CVCA data)
- CSA’s classification of stablecoins as securities continues is 'wrong' and will restrict adoption
- Crypto firms struggle to open basic bank accounts, even when AML risk is low
- Up to two-thirds of software engineering graduates are exiting Canada
See: SEC Clears Crypto Staking. What It Means for Canada
She argues that Canada should move quickly to unlock access to capital, offer tax incentives, and remove policy barriers if it wants to remain competitive.
Other Major Crypto Firms with MiCA Licenses
Several global firms have followed Coinbase in securing MiCA licences:
- Crypto.com, OKX, and Bitpanda received MiCA authorization in early 2025
- Bybit gained approval from Austria’s FMA in May 2025
- BitGo received its licence via BaFin in Germany
- MoonPay, BitStaete, ZBD, and Hidden Road secured early approvals in the Netherlands
Now do those same crypto firms also operate in Canada?
While several MiCA-licensed firms also operate in Canada the split below shows how global players are prioritizing the EU as a unified growth market, while (possibly) treating Canada as a smaller fragmented market.
See: UK FCA Plans Full Crypto Licensing Regime by 2026
| Firm | MiCA Licence | Canadian Operation |
| Coinbase | Yes | Yes (OSC restricted dealer) |
| Crypto.com | Yes | Yes (OSC restricted dealer) |
| OKX | Yes | No active registration |
| Bitpanda | Yes | No active registration |
| Bybit | Yes | Previously fined in Ontario; no active registration |
| BitGo | Yes | No known retail presence |
Why This Matters for Canadian Competitiveness
MiCA offers a clear example of how coordinated regulation can improve access, speed, and investor confidence. Prime Minister Mark Carney’s pledge to reduce interprovincial trade barriers could open the door to change, but digital asset policy must be part of the conversation.
See: The Crisis Canada and Fintech Can’t Afford to Waste
Without reducing regulatory burden and interprovincial barriers, Canada risks falling behind not because of lack of innovation but because of unclear rules that limit scale, delay market access, and create friction for investors.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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eufyMake E1 Breaks Kickstarter Crowdfunding Record
Crowdfunding | June 25, 2025
Kickstarter Crowdfunding Record Over $61 Million (and counting) for eufyMake E1 Project
On June 24, 2025, the eufyMake E1 UV Printer officially became the highest funded project in Kickstarter history; raising over $61 million from more than 17,000 backers, surpassing the previous record of $41.7 million. The compact printer offers plug and print functionality and can print on a wide range of materials including metal, leather, and glass. Pricing at $499 helped attract broad consumer interest during its 30-day campaign window.
See: Innovating Crowdfunding with Bitcoin’s Network
According to the release, the campaign launched on April 29 and exceed $10 million in the first 14 hours, and then became Kickstarter's all time funding leader in less than a month. This is a monstrous achievement and moment to celebrate for non-investment crowdfunding in 2025.
Boost for Reward-Based Crowdfunding
In recent years, most attention in alternative finance has shone a spotlight on equity crowdfunding, token sales, and hybrid fintech models. Yet the record breaking and live E1 crowdfunding campaign shows that reward-based crowdfunding can still raise significant funding at global scale when a product fits the market.
Kickstarter campaigns offer backers early access to physical products without offering ownership. This lowers legal and regulatory barriers, making the model especially attractive for consumer hardware, creative tools, and design-led products.
See: The Real Story of Access to Capital
For Canadian entrepreneurs, makers, and platforms, the E1 campaign is a reminder that product-led innovation can still be funded directly by users, backers, and supporters. A strong value proposition, clear use case, and professional campaign execution with digital-first product marketing can still generate global momentum on reward-based platforms.
Closing Thought
Canadian companies that are not yet ready or suitable for venture equity funding or tokenization may find reward crowdfunding a valuable first step to validate demand, generate working capital, and build a user base. Interested in snagging one of these incredible printers? There's 66 hours to go. Be part of a record breaking campaign: https://www.kickstarter.com/projects/ankermake/eufymake-e1-the-first-personal-3d-textured-uv-printer
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Honouring Andrew Moor’s Innovation Legacy
Banking | June 25, 2025
Andrew Moor’s Leadership Helped Shape Modern Banking in Canada
The National Crowdfunding & Fintech Association of Canada (NCFA) is deeply saddened by the sudden passing of Andrew Moor, President and CEO of Equitable Bank, (EQB) over the weekend of June 21–22, 2025 per the Financial post. Moor was a bold and thoughtful leader who believed in making Canada’s financial system more innovative, digital, and inclusive.
See: Why Canada must be open to open banking
As CEO since 2009, Moor led Equitable Bank’s transformation into a technology-forward institution known for its direct-to-consumer offerings and fintech partnerships. EQ Bank, the digital arm of Equitable, became one of Canada’s most trusted alternatives to traditional banking under his leadership. His forward-looking vision earned admiration across the financial sector, including from those of us at NCFA.
A Builder of Progress, Not Just Institutions
Moor supported open banking frameworks, digital infrastructure reform, and meaningful collaborations between regulated banks and emerging fintechs. He served on the board of the Canadian Bankers Association and consistently advocated for innovation that benefits Canadian consumers.
His leadership helped create new paths for collaboration between incumbents and innovators, something that NCFA has long supported.
Closing
Andrew Moor’s contributions advanced financial innovation in Canada. His sudden passing is a loss to all who care about the future of finance, technology, and inclusion. NCFA extends heartfelt condolences to his family, colleagues, and the entire team at EQB.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Calgary’s Modular Raises Key Insurtech Funding Round
Financing | June 24, 2025
Image: Modular Solutions (CNW Group/Tailwind Ventures Inc.)
Calgary’s Modular Solutions Closes Major Insurtech Seed Round from Strategic and Local Investors
On June 19, 2025, Modular Solutions announced closure of a big seed round led by Tailwind Ventures, with Clear North Capital and an unnamed strategic partner. Although the total financing amount wasn't disclosed, PitchBook data cited in the press release that it ranked among the top five North American insurtech seed deals, and second‑highest pre‑money valuation since January 2023.
See: Zūm Rails and Western Union Deliver Real Time Global Transfers
The funds will be used to streamline onboarding and implementation for insurers and brokers. Also to expand the platform's functionality including artificial intelligence and deepen integrations with insurers, managing general agents (MGAs) and brokers.
Braden Bosch, Founder and CEO of Modular Solutions:
"This capital raise marks a pivotal moment for Modular. We have brought an innovative software solution to the market, and with this investment, we can ensure low total cost of ownership and affordability while continuing to optimize and enhance our offering even further."
Darren Engels, Tailwind Ventures CEO:
"Tailwind is delighted to have supported Modular in securing this financing. Braden and the team at Modular are building transformative solutions for an industry in desperate need of innovation, and our capital partners share our conviction that Modular will deliver."
Other Recent Canadian Insurtech Financings and Acquisitions
Insurtech sector has been heating up for a while now. Below are a couple of recent insurtech rounds:
- PolicyMe (Toronto) raised C$30 million across equity and debt tranches since 2023, backed by Blue Cross Life and Securian Canada. That Series B‑style round supports expansion into life, health, and dental products. It also demonstrates how insurtechs are maturing and scaling B2C and embedded products.
See: Walnut Insurance Raises $4.6M for Embedded Tech Expansion
- YouSet (Montréal) closed an oversubscribed C$3.5 million seed round on August 20, 2024, using a SAFE structure. The round included existing investors such as former Intact EVP Don Fox, Marsh MD Neil Mitchell, and Canavan Capital’s Joe Canavan, as well as new angels including AXA’s Jim Texier, Aviva’s Phil Gibson, and entrepreneur Dan Robichaud. YouSet launched its home and auto-policy bundling platform via that announcement.
- BrokerLink acquisitions - mid‑June 2025, BrokerLink, subsidiary of Intact Financial, acquired three brokerages: Avergate Insurance (Markham, ON), Keyes Insurance Brokers (Gananoque, ON), and CDM Insurance Brokers (Calgary, AB), closing on May 1 and June 1 respectively. These acquisitions expand both Ontario and Alberta footprints and show consolidation activity within the broker channel, indicating that distribution networks are evolving in parallel with tech-led innovation.
Why This Matters
AI powered workflow insurtech platforms that reduce friction are getting funded and transforming the insurance sector. Modular Solutions major seed round also highlights Alberta's emerging fintech and insutech ecosystem.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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