Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Marketing, Strategy, Growth, Design
Canada’s Payments Innovation Push Gains Speed
Payments | Oct 2, 2025
Image: Ron Morrow, Executive Director, Bank of Canada (CPA The One Conference Sep 18, 2025)
Ron Morrow Outlines Canada’s Innovation in Payments Future at CPA The One
On September 18, 2025, Ron Morrow, Executive Director of Payments Supervision at the Bank of Canada, delivered a speech at the CPA The One conference titled, "Making change Accelerating payments innovation". He spoke about a vision for Canada’s payments future, one where innovation, oversight, and competition intersect. Stronger oversight and modern payment rails will make the system more competitive and inclusive.
This article unpacks select key quotes and and highlights two sides of the coin for stakeholders to see both sides and the trade-offs that come with it. For Canada, the task now is not whether to act, but how to add momentum and keep pace in a global race.
Select Key Quotes
1. Expansion of oversight
“Almost 1,500 payment service providers are now required to register with the Bank under the Retail Payment Activities Act.”
For the first time, nearly fifteen hundred retail Payment Service Providers (PSPs) are being pulled into the regulatory fold. Supporters argue that this gives consumers and businesses more confidence when using new services and helps fintechs compete on equal footing with banks. By ending the perception that startups operate in a grey zone, it could make investment in the sector more attractive.
See: Canada’s Retail Payments Boom: $11.9 Trillion Growing Fast
But compliance comes with costs, and many small firms run lean without a large legal or regulatory staff like banks. What may feel like light reporting to a large bank can feel like a heavy lift for a ten person startup. In the worst case, it could drive consolidation that narrows competition instead of expanding it.
2. Balancing Innovation and Trust
“Our job is to make sure that innovation in the payments system can proceed in a way that is safe, sound and reliable.”
Safe to say that Canadians will only embrace new forms of payments if they trust them to work without interruption and to protect their money. Regulation that sets clear expectations can provide certainty for innovators, giving them a stable foundation to build on.
Yet safety can lead to an abundance of caution that could slow innovation. Other countries, from the UK to Singapore, have shown that regulators can allow pilots and sandboxes to move quickly while still managing risk. If Canada puts too much emphasis on stability, we'll fall behind in a global race where trust and speed both matter.
3. Opening The Rails
“We are working to expand access so that more providers can offer services directly through Canada’s core payment systems.”
Direct access to national infrastructure is potentially transformational. If fintechs can gain access without going through a big bank, they can offer faster and cheaper payments. This would lower costs for consumers, ignite competition, and open the door for creative new services in areas like cross border transactions.
See: Banks Retreat From Payments as Moneris Sale Looms
The flip side is that these core systems were designed with large, well capitalized institutions in mind. Smaller entrants may not have the same buffers to handle liquidity shocks or technical breakdowns. One major failure could undermine confidence across the entire network. The challenge is designing an access model that widens competition without weakening stability. Payments Canada who is overseeing Canada's payments modernization has delayed implementation numerous times, and industry is frustrated. In May 2025 however, they announced that the technical build will be completed by Q3 2025 and they plan to test the system throughout 2026.
4. Canada in the Global Race
“Through our work with the BIS Innovation Hub, we are exploring the potential of new technologies such as tokenization and artificial intelligence.”
Engaging with international financial innovation hubs allows Canada to stay connected to the latest fintech and payments research, including stablecoins and tokenization. It also helps Canadian fintechs align with emerging global standards, making cross border scaling easier. Last June 2024, the BIS and Bank of Canada Launched the BIS Toronto Innovation Centre.
The real risk lies in harmonization at home. Canada’s financial system is driven by a concentrated banking sector and diverse regional economies, where inter-provincial differences can create barriers to trade and investment. If newly adopted financial technologies and related reforms aren't designed to work seamlessly across all provinces and territories, Canadian markets could become further fragmented with unwanted barriers and compliance costs. Canada needs to strengthen its internal market with more competition and innovation to be able to complete with strength globally.
5. The Link to Open Banking
“Payments innovation cannot be separated from broader efforts like open banking.”
If Canada completes payments modernization while also enabling consumers to share their financial data securely (open banking, consumer driven finance), the market could see a boon of new service models and tools that bring real competition to a system long dominated by incumbents.
See: Open Banking Delayed But Back in the Legislative Radar
Skepticism is very real though with Canada lacking the political will to finally implement open banking after promising it and studying it for years. Without binding timelines, many in the industry hear speeches like this one but actions speak louder the words. For fintechs, the question remains whether it is worth investing in solutions that depend on open banking when political momentum has not yet delivered results, or opt for new pathways. The latest is that open banking in Canada will land in 2026., with further delays will have significant consequences for innovation and consumer choice in Canada.
Outlook
Ron Morrow’s speech delivers a clear vision and direction for modernizing Canada’s payments landscape. Expanded oversight, broader access to rails, and participation in global innovation networks all point to a more open and competitive future. If open banking also arrives in 2026, these reforms could unlock real benefits for consumers and fintechs alike. But the devil’s advocate cannot be ignored. Here's a streamlined version of Morrow's speech, 'Cashing in on Payments Innovation' (fingers crossed)
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 aa 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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Canada Crowdfunded Their Way to the World Cup
Crowdfunding | Oct 1, 2025
Image courtesy of AI
How a $1M Crowdfunding Drive Fuelled Canada to a Gutsy 2025 World Cup Run
On March 7, 2025, Rugby Canada announced a bold public campaign to fund its women’s high performance team to England 2025. The campaign laid out a $1 million shortfall to cover the full season's program that costs $3.6 million (but the union's budget fell short). So to close the funding gap, they opened the doors to fans, alumni, and corporate donors and launched a dedicated donation portal for this effort: Mission: Win Rugby World Cup 2025 donation portal.
That night, the campaign thermometer sat at zero. By morning, it was alive as part financing tool and part storytelling engine that sparked a national movement in Canadian sport.
Building Narrative, Urgency, and Ownership
Rugby Canada needed more than dollars. They needed narrative. The early campaign push did three essential things well:
1. Explained the gap 'the need/ mission'
They didn't just ask for support but described the exact dollars missing and how each contributed dollar would map to camps, nutrition, recovery, and test matches.
See: US Fundraising Firm RaiseRight Acquires Canada’s FlipGive
2. Offered Donors Participation
Supporters weren’t just donors but they were treated as 'partners' in getting the Canadian Women's Rugby team ready for the World Cup 2025, a massive global sporting event.
3. Tracked Campaign Updates Front and Centre
Independent rugby media tracked progress. In April, RugbyPass ran a report noting the still‑open funding hole and provided key updates in how far along the drive had come, and how much further they still needed to go to achieve their mission.
The Run-up to Close
As the 2025 Women's Rugby World Cup (hosted in England) drew closer and closer, media narratives framed Canada not just as underfunded underdogs but as gritty, scrappy, and deserving contenders. Sky Sports ran a feature titled “How non‑professional Canada crowdfunded its way to the final push,” saying pledges “reached 95 percent.”
Meanwhile, ESPN ran a narrative piece under the banner “Canada crowdfunded their way to the World Cup” juxtaposing the team’s funding shortfall with their on‑field ambitions.
See: CSA Proposes $50K Harmonized Self Certified Investor Exemption
Kudus to participating media that helped raise awareness for such an important Canadian funding drive. It really shows what's possible when the full ecosystem gets behind an initiative and drives momentum forward. There's a natural connection between executing a well timed and focused financing campaign and executing a key sports performance, and the public knows it. #ElbowsUp
Canada's Performance Defied Expectations
When England 2025 kicked off, Canada stepped onto the pitch motivated by even greater purpose, not a team suffering by funding shortfall anxiety.
In pool play they went undefeated, carving out physical, disciplined performances that turned heads.
In the quarter final, they defeated a powerful Australia squad.
In the semi final, they shocked the rugby world by defeating New Zealand (perennial favourites) to reach their first Women’s Rugby World Cup final.
See: California AI Law and U.S. Visa Fees Open Doors For Canada
On September 27, before a packed Twickenham, Canada faced hosts England. They lost but not meekly. In the aftermath, coach Kevin Rouet and captain stressed that the match was decided on performance, not excuses, a point that resonates in Reuters’ coverage of the final.
Taking Risks and Overcoming Tension Culture
Crowdfunding bought the players the chance to compete on equal footing, free of resource excuses. The lesson for Canada as a sporting nation was significant. When supports and fans step in to close gaps, institutions can't ignore the demand for sustainable, professionalized backing of women’s rugby.
Players adjusted their off season budgets and personal spending to show they were all in on the campaign narrative.
Coaching staff scheduled extra camps contingent on fundraising milestones, keeping the team in lockstep with the thermometer.
See: Life Isn’t Linear: Curveballs and Strikeouts
Each media checkpoint (50%, 80%, 95%) became a moment of drama as the story unfolded. Would the final stretch succeed or stall? That tension made the campaign itself a parallel storyline to the competition.
Critics wondered whether public fundraising blurred lines between sport and fandom but supporters embraced the risk, seeing their dollars as equity in national ambition at a time when Canada needs to buckle down and drive through the line.
When everyone's in the same boat, the winds will sail.
Closing Outlook
This was more than just a funding story. If you want one of those, feel free to read the real story of access to capital. It was about turning a resource gap (a modern day limitation) into shared ownership.
Canada’s women made their financial constraints visible, linked every dollar to performance outcomes, and invited supporters to become backers in the journey. That transparency changed how Canadians see women’s sport funding not as charity, but as investment with real returns.
See: Report Insights: DIY Investors in Canada on the Rise
The campaign also created accountability. Once the thermometer went public, the team owed backers results, not just thanks.
The story will not always be this dramatic, but the connections and motivations are real, and crowdfunding amplifies that blueprint. Define the gap, own the narrative, attach every contribution to a tangible outcome, and treat supporters as true partners.
Collaboration was at the core! Players, fans, alumni, sponsors, and media all carried their share of the work. As Canada’s women look beyond 2025, the responsibility now shifts to institutions, national sport bodies, sponsors, and public agencies to ensure future generations no longer need to crowdfund their path to the world stage, or maybe they should! #GoCanada
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 aa 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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US Fundraising Firm RaiseRight Acquires Canada’s FlipGive
M&A | Oct 1, 2025
Image: Freepik
RaiseRight Buys FlipGive to Expand Team Fundraising Across North America
On September 18, 2025, US-based fundraising solutions provider RaiseRight announced the acquisition of Toronto-based FlipGive, a Certified B Corporation known for cashback shopping combined with community fundraising tools. Terms of the deal were not disclosed.
See: Free Canadian Fintech listing directory
RaiseRight is based in Grand Rapids, Michigan and best known for scrip and gift card fundraising programs that direct spending power to local groups. The company cites more than $900 million raised with over 750 brand partners across 30 years of operations.
FlipGive’s Early Crowdfunding Origins
FlipGive first went public in 2013, self-described as a retailer-driven fundraising model for schools, sports teams and communities. When they first launched, the National Crowdfunding & Fintech Association of Canada listed FlipGive on it's original crowdfunding directory (not maintained since Jan 2019, as NCFA hosts a new fintech directory in Canada here. as crowdfunding for non profits through product sales and donations, a model that merged a crowdfunding ethos with shopping rewards and donations.
The focus evolved from one time pledges to everyday shopping that earns cash back for teams and community groups. Retailers and restaurants share a percentage of transactions, which turns routine purchases into a steady funding stream.
FlipGive later scaled embedded rewards and reported strong growth, including a $4 million Series B financing round in 2023 in an funding roundup mentioning FlipGive.
See: Equity Crowdfunding Breaks Records in Canada
According to FlipGive’s own platform data, teams have raised more than $56.6 million through the service, converting everyday purchases into direct support for youth sports and community groups. This total reflects contributions generated from more than 50,000 teams (including my kids hockey team fundraisers!) via $425 million in sales across 900 brands, serving more than 900,000 FlipGive members.
These numbers clearly confirm the demand and impact of the cashback model and how it's grown into a significant funding source for local teams.
Nick Lee, Co-founder of FlipGive:
"From day one, our goal has been to support families and make team fundraising simple and effective. Joining RaiseRight, who shares our mission and values, ensures a future where even more families can benefit."
Expanding With RaiseRight
FlipGive’s brand and Canadian operations will continue while its technology integrates into RaiseRight’s broader platform. The combination adds white label rewards, scrip gift cards, online shopping, dining, and travel into one stack that organizations can use to fund sports, schools, and community programs.
See: H1 2025 Global Fintech Funding Slows, Some Sectors Firing
Lou Agnese, CEO of RaiseRight:
"FlipGive has played a valuable role in shaping how communities approach fundraising through its technology and platform. We are excited to expand into the Canadian market and thrilled to welcome the FlipGive brand and team into the RaiseRight family. We will continue to build on FlipGive's innovations to deliver even greater value to the communities we serve across Canada and the United States."
Closing Outlook
This deal connects two complementary funding rails. FlipGive’s commerce driven crowdfunding roots evolved into cashback infrastructure with RaiseRight’s long running gift card model built to scale. Together they offer a cross-border platform that monetizes everyday spending for community funding while maintaining a social mission. For Canadian fintech and nonprofit stakeholders, the main questions are how will RaiseRight's acquisition steward FlipGive’s B Corporation identity and how integration will affect service for Canadian teams.
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 aa 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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California AI Law and U.S. Visa Fees Open Doors For Canada
Regulation | Sep 30, 2025
New U.S. Policies Could Redirect AI Growth and Skilled Workers to Canada
On September 29, 2025, California Governor Gavin Newsom signed the Transparency in Frontier Artificial Intelligence Act into law (Senate Bill 53), the first binding U.S. law directed at frontier AI developers.
Overview
The law requires companies with the largest models to:
- Publish safety frameworks and update them within 30 days of any change
- Issue transparency reports before deploying new or substantially updated systems
- Report incidents including crimes committed without human oversight or deceptive model behaviour to California’s Office of Emergency Services within 15 days, or within 24 hours if there is an imminent threat
- Whistleblower protections and civil penalties of up to $1 million are also part of the framework, enforceable by the Attorney General’s office
See: What Toronto Can Learn from Tel Aviv’s Start-Up Scene
Unlike last year’s failed SB 1047, the new law does not require third-party audits or shutdown mechanisms. Instead, it focuses on transparency. Starting in 2027, anonymized summaries of incidents will be published annually to inform the public.
Who's in Scope?
Developers that cross the extreme compute threshold of 10^26 FLOPs (computer system that can process a hundred trillion trillion mathematical operations) OR exceed $500 million in annual revenue.
How Companies and Countries Are Responding
The response has been mixed. Anthropic backed the compromise version after negotiations, while Meta set up a state-level PAC and OpenAI pushed for federal or international alternatives.
Critics warn that duplicative state rules could fragment compliance.
See: CMA Lessons on Competition and Growth for Canada
But still, California has a history of rules spreading nationally, from privacy to environmental standards. OpenAI, Anthropic, Meta, and Google DeepMind are among the large AI labs likely affected by SB 53. Three of which are based in California with DeepMind is headquartered in the UK but parent company Alphabet is in Cali.
Globally, the EU AI Act regulatory framework is already in force and more comprehensive, applying risk-based obligations across industries. Canada’s Artificial Intelligence and Data Act stalled earlier this year, leaving the country with a voluntary code of AI ethics. Other U.S. states may also look to California’s model as a template for their own AI laws.
For AI finance fintechs, it's pretty clear to see that California has drawn a line in the sand to publish safety processes, disclose updates, and prepare reporting systems. Canadian startups and scale-ups serving California clients will need to align to ensure compliance, and these same steps could form the basis of a future Canadian law if Ottawa revives its AI plans. NCFA has published numerous articles on how AI is reshaping fintech to highlight opportunities and risks.
Rules and Visas Could Impact North America’s Talent Flows
California’s new AI law shows how U.S. states are moving ahead with governance while Washington is moving in the opposite direction on immigration. The two policies together are forcing companies to rethink where they build and hire.
On September 21, 2025, USCIS raised H-1B visa fees for the first time in nearly two decades. The registration fee jumps from $10 to $215, the petition filing fee increases to $780, and employers must also pay a $600 asylum surcharge on each petition. In addition, a $100,000 payment applies to every new H-1B petition filed after September 21, 2025.
See: Cohere Adds $100M as Ottawa Launches AI Sprint
For large technology firms submitting thousands of registrations, lottery costs alone now reach six figures (i.e. registration, petition and asylum fees), and with the $100,000 payment layered on top, sponsoring one skilled worker requires an unprecedented financial amount before salaries are even considered.At the same time, Senate Bill 53 requires large AI developers in California to comply with the AI transparency and safety law. For startups and scale-ups already facing higher labour costs from the visa changes, the compliance load makes expansion in California more expensive than some alternatives.
For Canada, this combination creates an opening. The federal government has kept immigration channels and recently launched Canada's first ever tech talent strategy in 2023, while luckily leaving it's own AI governance as a voluntary code of conduct instead of a binding law. Companies that find U.S. rules and visa costs too heavy can find both talent and policy breathing room north of the border. WELCOME TO CANADA!
Canada’s Startup Visa Faces Long Delays
As a caveat to the message that Canada welcomes top entrepreneurs, the reality is that Canada’s Start-up Visa (SUV) program which was created to bring global founders into the country is currently plagued with a backlog of more than 42,000 applications as of July 2025 with wait times longer than four years as reported by Betakit. As a result, the government added a three year open work permit so entrepreneurs can start working while waiting for permanent residency, but the backlog itself remains a major barrier. Ottawa also introduced a cap of 2,000 SUV applications in 2025 and plans to reduce it further to 1,000 in 2026. By comparison, Canada’s Innovation Stream under the Tech Talent Strategy remains far more flexible and designed with urgency in mind; it's LMIA (Labour Market Assessment Impact) exempt and can be processed in weeks.
Instead of blunt national cuts, Ottawa could manage qualifying organizations application caps that grow or shrink depending on their results. Incubators, angel groups, and venture funds with stronger records of scaling companies, creating jobs, and raising capital could endorse more entrepreneurs, while newer or weaker ones would be limited until they prove outcomes. This approach would raise quality of applicants while keeping the door open to founders from diverse regions. Coupled with the open work permit, it could restore SUV as a credible and inclusive option for entrepreneurs choosing where to build.
Outlook
Canada now has a limited window to attract both talent and innovation by pairing flexible immigration with a pragmatic approach to AI governance. Ottawa's next steps will determine how long that window stays open.
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 aa 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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CSA Proposes $50K Harmonized Self Certified Investor Exemption
Consultation | Sep 30, 2025
Image: Freepik/prostooleh
Canadian Regulators Open Consultation On Self-Certified Investor Rule
On September 25, 2025 the Canadian Securities Administrators (CSA) released for comment a proposal to harmonized Self-Certified Investor Prospectus Exemption (See: Notice and Request for Comment on Multilateral Instrument 45-111) that aims to replace a patchwork of provincial exemptions with a framework that makes it easier for more Canadians to participate in private markets and businesses to raise capital.
The comment period runs until January 5, 2026, giving NCFA members and stakeholders the opportunity contribute to one of the most important reforms for retail investor access in years.
What the Proposal Changes
The new rule would harmonize exemptions across multiple provinces and territories, replacing existing orders that had created pilot programs in each province. It sets an across the board investment cap of $50,000 per calendar year that can be spread across multiple issuers.
See: U.S. ACCESS Act Advances to Ease Crowdfunding Rules
By consolidating exemptions into a single instrument, the CSA hopes to reduce legal and compliance duplication that has added cost and complexity for issuers.
This proposal builds on a broader modernization trend in Canada’s markets, including reforms such as the expansion of the Listed Issuer Financing Exemption (LIFE), which NCFA has reported as a material change for retail access to public capital raising.
Requirements for Self-Certified Investors
Ontario has been one of the provinces piloting the model through Ontario Instrument 45-507 Self-Certified Investor Prospectus Exemption. The criteria in that order provide a clear picture of who could qualify:
- An individual may be eligible if they hold designations such as Chartered Financial Analyst (CFA), Chartered Business Valuator (CBV), Chartered Professional Accountant (CPA), or Chartered Investment Manager (CIM)
- Others may qualify by holding a law degree with a practice focused on corporate finance, mergers, or acquisitions, or by completing advanced education such as an MBA with a concentration in finance or a commerce degree specializing in finance or investment
- Passing key financial industry exams like the Canadian Securities Course or the Exempt Market Products Exam can also qualify an individual.
See: Wealth Management Insights for Fintechs and Investors
- Relevant work experience is another pathway. Ontario recognizes at least five years in related areas such as venture capital, private equity, investment management, or corporate finance, as well as senior roles in industries that give the investor the ability to assess business risk.
- Under the CSA proposal, qualifying pathways would expand to include individuals who, within the last five years, have been employees of a venture capital or private equity fund or a business that invests in or finances small or medium-sized issuers and who have participated in those investment activities for at least one year
- Founders or directors of early stage businesses with annual revenues of at least $500,000
To participate, an investor must complete both a Confirmation of Qualifying Criteria and an Acknowledgement of Risks form, certifying they understand the nature of exempt market securities and the absence of prospectus protections.
Notably, the Ontario pilot set the limit at $30,000 annually across issuers, while the new CSA proposal raises this cap to $50,000 across multiple jurisdictions. For the full consultation record, see the CSA Multilateral Notice for MI 45-111.
Who Could Qualify Under the Exemption
The combined effect of the newly harmonized rule would open up private markets to knowledgeable professionals who may not meet accredited investor wealth thresholds.
See: Report Insights: DIY Investors in Canada on the Rise
This includes financial analysts, accountants, valuators, and lawyers with corporate finance experience, as well as entrepreneurs and senior executives who have led companies in sectors where their industry knowledge helps them evaluate business risk. By broadening access, the exemption is intended to channel new pools of informed capital into early stage and growth businesses.
Potential Impact on Capital Formation
The CSA consultation does not provide any projections on the number of new investors or volume of new capital inflows that may result from these changes, and Ontario’s pilot program didn't publish any participation data. However, harmonization is expected to expand the eligible investor base and reduce administrative burdens on issuers.
For startups and small businesses, this can lower the cost of fundraising and increase the number of investors able to participate.
See: The Real Story of Access to Capital
For investors, the proposed exemption enables participation based on knowledge and experience rather than wealth, while maintaining safeguards such as certification requirements and annual limits.
The proposed change is part of a wider trend of policy changes aimed at growing early stage financing in Canada, including Ontario's interim class orders that support early stage capital formation. More transparent reporting on participation and capital raised will be important for assessing outcomes and balancing investor protections over time.
Your Voice Counts!
Canada has long faced criticism for fragmented securities rules that make capital raising inefficient. By harmonizing exemptions across multiple provinces and territories, the CSA is addressing structural barriers that have limited access to early stage funding. If adopted, Multilateral Instrument 45-111 would give more Canadians the ability to participate in investment growth opportunities while providing businesses with a clearer path to attract more capital.
The comment period deadline is January 5, 2025. NCFA encourages its community to participate in this consultation by reviewing the CSA consultation materials, consider operational and investor protection details that should be refined, and submit data-driven and/or evidence-based feedback to regulators.
For background on Ontario’s pilot approach, see NCFA’s coverage of the OSC pilot self-certified investor exemption which provides additional context on the origins and mechanics of the model in Ontario. Also for further context, see the CSA consultation news release.
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 aa 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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How Small Businesses Enter the Casino Fintech Space
Sep 30, 2025
The casino fintech space offers small businesses a unique entry point into a rapidly expanding digital economy. By leveraging technology and niche market insights, entrepreneurs can tap into a sector projected to exceed $127 billion by 2027. Many are finding success through specialised payment solutions, compliance tools, or customer engagement platforms. For those exploring gaming integration, a seamless experience like online roulette at Zoome highlights the importance of smooth transactional and interactive design. This article explores practical pathways for small enterprises aiming to participate in this high-growth industry.
Market Insights and Growth Indicators
The convergence of financial technology and casino operations creates fertile ground for agile small businesses. Global digital payment volumes in gaming surged by over 40% in 2023 alone. Regulatory shifts and technological advancements continue to lower entry barriers. Small enterprises that identify underserved niches often achieve rapid scalability. Consider these compelling statistics shaping the sector today.
- Over 72% of digital gaming transactions now use alternative payment methods
- The Asia-Pacific region accounted for $48.2 billion in gaming fintech revenue in 2024
- Small fintech startups captured 31% of the payment processing market share in 2023
- Blockchain-based casino transactions grew by 215% between 2022 and 2024
- Customer acquisition costs for gaming fintech products dropped by 28% since 2021
Why Niche Solutions Outperform Generic Platforms
Small businesses thrive by addressing specific pain points larger corporations overlook. Specialised payment gateways for AU online casino operators demonstrate this perfectly. These platforms handle currency conversion, regulatory compliance, and rapid withdrawals seamlessly. They integrate easily with existing casino software through API connections. This focused approach builds loyalty among operators who prefer tailored solutions over one-size-fits-all systems. Trusted online casinos particularly value partners who understand their unique operational challenges and compliance requirements.
Customer Engagement and Retention Technologies
Player retention separates successful casinos from struggling ones. Small fintech firms develop engagement tools that boost player loyalty significantly. These include personalised bonus engines, predictive analytics for player behaviour, and automated loyalty programs. Integration with popular Aussie online pokies platforms makes these tools particularly valuable. They help operators identify at-risk players before they churn and create targeted retention campaigns. The best solutions combine artificial intelligence with deep industry knowledge to deliver measurable improvements in player lifetime value.
Payment Innovation and Security Solutions
Payment processing remains the backbone of casino fintech. Small enterprises innovate by developing faster, safer transaction methods. These include digital wallets with enhanced security protocols and cryptocurrency integration services. Multi-currency support proves essential for platforms serving international players. Robust fraud detection systems tailored for gaming patterns also see high demand.
See: Wealth Management Insights for Fintechs and Investors
Small businesses entering the casino fintech space must focus on specificity, compliance, and technological elegance. The most successful identify clear problems and deliver streamlined solutions that larger companies cannot match. By specialising in regulatory technology, payment processing, or customer engagement, entrepreneurs build sustainable ventures within this dynamic industry.
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 aa 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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Cohere Adds $100M as Ottawa Launches AI Sprint
AI | Sep 29, 2025
Image: Freepik AI
Canada’s AI Story Now Spans Billion Dollar Funding, Infrastructure Alliances, and a National Policy Push
On September 24, 2025, Canada's AI darling Cohere announced a second close to their latest round with an additional $100M added to their coffers, valuing the company at approx $7B, positioning the company at the center of secure enterprise deployments while Ottawa launched a 30 day consultation to reset the national AI strategy.
Cohere’s new funding builds on traction with its Command A models and the North platform, both designed for private solutions across finance, healthcare, and government.
See: Canada Risks Falling Behind as UK Lands AI Megadeals
Alongside the capital, the technical story is about compute diversity. On September 24, 2025, AMD and Cohere expanded their global AI collaboration for enterprise and sovereign deployments while also adopting North internally. The widens buyer choice and lowers total cost of ownership for organizations handling sensitive data.
Cohere’s Nick Frosst said customers now have ‘significantly greater flexibility’ in how they use Cohere’s AI, while AMD’s Vamsi Boppana noted they benefit from better cost efficiency and energy performance.
30 Day Policy Sprint
On September 26, 2025, the federal government launched an AI Strategy Task Force with a 30 day consultation window from October 1-31 to set priorities around safety, sovereignty, and procurement readiness, with the goal of moving quickly toward digital sovereignty and economic adoption.
Hon. Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister for FedDev Southern Ontario:
“The Government of Canada is moving quickly toward our vision for AI and digital sovereignty. The AI Strategy Task Force and the ideas gathered through our national sprint will generate bold, pragmatic and actionable recommendations to guide Canada’s next AI strategy. This strategy will accelerate the development of nation-building AI and data infrastructure, drive economy-wide adoption and help build the strongest economy in the G7.”
Regional Funding Expands AI Beyond Major Centers
FedNor confirmed $595,400 across three projects in Northern Ontario, spanning powerline mapping, healthcare automation, and First Nations training. One example is a $500,000 repayable contribution to CircuitIQ for a live powerline mapping tool, which will support hospitals and transport infrastructure. The same program provides $67,200 for Waive to automate healthcare forms and $28,200 for Ontario First Nations Technical Services Corporation to prepare training for more than 50 communities.
See: Canada’s Opportunity In Efficient Reasoning AI
PwC Canada’s Value in Motion analysis projects that if Canada accelerates AI adoption, the economy could reach $3.65T by 2035 (up from $2.89T in 2023). The study stresses that faster uptake depends on capital investment, access to compute, and clear policy direction the very areas now in motion with Cohere’s new funding, AMD’s infrastructure partnership, and Ottawa’s task force.
Why AI Alignment Strategy Matters
The alignment of capital, computing power, and policy confirms that Canada’s AI story is entering an execution phase. Growth and success will depend on measuring real productivity gains in the near term."
For institutions that handle sensitive data, having more choice in computing power and proven enterprise models lowers risk and gives them more leverage. For policymakers, the inclusion of regional funding shows that AI adoption isn't just an urban story.
See: Cohere Picks Paris as New EMEA Hub For Enterprise AI
For fintechs, October is the time to prove that their models are reliable, that data stays in Canada when required, and that costs are clear enough for procurement teams to sign off.
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 aa 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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