National Bank acquires majority stake in fintech startup Flinks in $103M deal

The Logic | Jon Victor | Aug 25, 2021

National Bank of Canada will take a majority stake in Montreal-based financial-data platform Flinks, a sign that the bank is looking to increase its exposure to tech-focused products at a time of rapid change in the financial-services industry.

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Canada’s sixth-largest bank disclosed in its quarterly earnings report Wednesday morning that it agreed to pay $103 million to increase its share of the company from 28 per cent to 80 per cent, with $30 million of the investment going toward new capital for Flinks. The deal, dated July 9, is expected to close in September, according to National Bank.

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