Weekly FinTech & Financial News
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Top Financial Institutions Updates this Week
💰 The Business Development Bank of Canada (BDC) launched its $50M Thrive Entrepreneurship through Acquisition Fund (Thrive ETA Fund) aiming to support more than 60 Canadian women in acquiring and operating Canadian companies
🤝 Fairstone Bank of Canada, in collaboration with Walmart Canada, launches the enhanced Walmart Rewards Mastercard – a card designed to maximize value and flexibility
🌟 National Bank Investments surpasses $100 Billion in assets under management
Top FinTech Updates this Week
🚀 Fathom4sight Unveils FathomPRO: AI-Powered Market Intelligence Platform to Transform Strategic Foresight in Financial Services
💰 DeFi Technologies, a Toronto-based decentralised finance company made strategic investment in Toronto-based digital money infrastructure Stablecorp and a commercial collaboration centered on QCAD, Stablecorp's Canadian-dollar stablecoin product
💰 Cohere, Toronto-based AI platform raised $100M in new funding and achieved valuation of $7B
💰 Mycroft, Toronto-based AI-driven security and compliance platform provider, emerged from stealth raising $3.5M to expand its offering in the enterprise market
💰 Simple Ventures, Toronto-based venture studio builder raised $15M to accelerate the creation of new companies at home and entice Canadian founders abroad to return
💰 Stablecorp, Toronto-based digital money infrastructure closes ~$5M CAD strategic round to accelerate scaling of Canada's premier stablecoin infrastructure
🤝 VoPay, a Vancouver-based API-first embedded payment technology provider for software platforms is expanding real-time payouts with PayPal and Venmo
🤝 Quarters, a Toronto-based proptech and Flinks, Montreal-based open banking provider partner to provide Canadians with a new way to save for a home
🚀 Metrolinx, Toronto-based urban transit services firm partnered with No Frills, Brampton-based retail firm on a pilot program to give transit riders greater access to PRESTO services, an electronic payment system
🚀 Sedgwick, US-based risk and claims administration partner is accelerating its North American strategy with the expansion of delegated authority services in Canada
🚀 Nesto, Montréal-based mortgage lender officially launched Nesto Cloud an expanded product for financial institutions
🚀 Alternative Payments, a fully-integrated B2B payments and checkout infrastructure provider, officially expanded into Canada, establishing the company's first international market presence
🚀 Flybits, a Toronto-based contextual engagement platform for the financial industry launches Agentic Banking capability
🚀 Foresters Financial, a Toronto-based life insurance provider launches Advantage Max to the Canadian market, a participating whole life insurance product designed to help maximize protection with strong cash value growth
💼 FIS, US-based global FinTech firm acquires Amount, US-based lending SaaS platform to deliver unified digital account origination, empowering financial institutions to accelerate growth and simplify banking
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Fathom4sight Unveils FathomPRO: AI-Powered Market Intelligence Platform to Transform Strategic Foresight in Financial Services
Fathom4sight officially launched FathomPRO at the Canada FinTech Forum 2025 — an AI-powered intelligence platform built to help financial institutions anticipate disruption, accelerate innovation, and make faster, smarter decisions. With real-time foresight, Canada’s largest FinTech database, and direct advisory integration, it positions Fathom4sight as a key partner to leading banks, insurers, credit unions, and global firms. | Newswire -
Metrolinx, Toronto-based urban transit services firm partnered with No Frills, Brampton-based retail firm on a pilot program to give transit riders greater access to PRESTO services, an electronic payment system
Customers in five select Toronto and Ottawa neighbourhoods can access some PRESTO services — including buying and loading a PRESTO card and setting a fare type to a new card — at their local No Frills. These stores also have limited-edition PRESTO cards for purchase. Customers can also buy and load physical PRESTO cards for $4 at select Shoppers Drug Mart and Loblaws locations, or at Ticket Vending Machines, Self-Serve Reload Machines and Fare Vending Machines at O-Train stations in Ottawa and TTC subway stations in Toronto. | MetrolinxVoPay, a Vancouver-based API-first embedded payment technology provider for software platforms is expanding real-time payouts with PayPal and Venmo
By adding two of the most widely used payment methods in North America, it aims to help platforms deliver instant, flexible payout experiences without added complexity. Either through API-first integration or no-code portal, businesses can configure and send funds directly into these accounts with just a few steps. | VoPayAlternative Payments, a fully-integrated B2B payments and checkout infrastructure provider, officially expanded into Canada, establishing the company's first international market presence
It is extending its mission to deliver faster, more flexible payment solutions for businesses across North America. The Canadian launch underscores Alternative Payments' ongoing efforts to digitize and automate B2B payment workflows. To establish its presence, the company has opened a new field office in Toronto and Vancouver and built a local team to serve as a hub for partner engagement and customer support. Early pilots with Canadian MSPs and solution partners are already generating momentum. | NewswireAdyen partners with Simons, the first retailer in Canada to offer Klarna in-store through the partnership with Adyen to streamline payments
Customers can pay for their purchase using one of Klarna’s interest-free BNPL payment methods and can keep track of the purchase in their Klarna app. The partnership will also expand the payment options available to customers, from offering Alipay and WeChat. | Adyen -
Fairstone Bank of Canada, in collaboration with Walmart Canada, launches the enhanced Walmart Rewards Mastercard – a card designed to maximize value and flexibility
Walmart Rewards Mastercard cardholders can maximize their Walmart Reward Dollars and earn 3% on Walmart purchases – in store and online, including Marketplace – and 1% on purchases made everywhere else. They can also save their rewards on their terms, earning unlimited Walmart Reward Dollars that never expire. Saving up for a Walmart purchase has never been easier. The new and improved Walmart Rewards Mastercard also provides up to six months free of Delivery Pass with the purchase of an annual Delivery Pass subscription. Plus, new cardholders are eligible to receive a special welcome bonus of $25 in reward dollars. | FairstoneThe Business Development Bank of Canada (BDC) launched its $50M Thrive Entrepreneurship through Acquisition Fund (Thrive ETA Fund) aiming to support more than 60 Canadian women in acquiring and operating Canadian companies
The Thrive ETA Fund will be managed through BDC’s Thrive Lab for Women. The Thrive ETA Fund is a $50M investment envelope and an accelerator to support women in finding, acquiring and operating businesses with: $10 million in indirect investments: allocated to Canadian private equity funds that support women-led business acquisitions, helping to strengthen the broader ecosystem; $40 million in direct investments: dedicated to women ready to acquire a business, whether through a search fund, a management buyout, or a self-funded search and an accelerator, which will include training, capital access, deal sourcing, mentorship and guidance and a peer community. | GlobeNewswireNational Bank Investments surpasses $100 Billion in assets under management
This significant milestone underscores NBI’s unwavering commitment to delivering exceptional value to investors and exemplifies the firm’s remarkable growth trajectory since its foundation in 1987. | NBC -
DeFi Technologies, a Toronto-based decentralised finance company made strategic investment in Toronto-based digital money infrastructure Stablecorp and a commercial collaboration centered on QCAD, Stablecorp's Canadian-dollar stablecoin product
DeFi Technologies joins Coinbase Ventures, Circle Ventures, Side Door Ventures and other digital finance industry leaders as investors in Stablecorp. DeFi Technologies and Stablecorp intend to focus on three strategic areas tied to QCAD:Product development; Liquidity and collaborate with BTQ Technologies in development of post-quantum security standards for QCAD as adoption scales. | PR NewswireStablecorp, Toronto-based digital money infrastructure closes ~$5M CAD strategic round to accelerate scaling of Canada's premier stablecoin infrastructure
New capital will accelerate the rollout of QCAD, Canada's fully-reserved, audit-ready stablecoin, to meet growing demand for compliant, 24/7 cross-border payments and digital capital markets. The round, led by FTP Ventures, was comprised of both existing shareholders as well as new investors. | Newswire -
Sedgwick, US-based risk and claims administration partner is accelerating its North American strategy with the expansion of delegated authority services in Canada
Sedgwick’s North American strategy builds on the success of the company’s work with Lloyd’s of London-backed MGAs, cover holders, and syndicates as an approved delegated claims administrator. Sedgwick responded to hundreds of thousands of Lloyd’s related losses, leveraging experts in claims management, general adjusting, surveying, forensic accounting, environmental and fire investigations, and major and complex losses. | Insurance-Canada.caForesters Financial, a Toronto-based life insurance provider launches Advantage Max to the Canadian market, a participating whole life insurance product designed to help maximize protection with strong cash value growth
Advantage Max is ideal for clients seeking stability, guarantees and long-term financial planning flexibility, especially in uncertain market conditions. With a compelling 6.25% dividend scale interest rate,Advantage Max gives Canadians a robust solution for long-term financial security, backed by Foresters reliable dividend-paying history. | Insurance-Canada.caMutual Fire Insurance, Langley-based insurance firm launches digitally on Quotey, a Whitby-based commercial lines insurance marketplace for Hobby Farms
This partnership marks a significant step forward in MFI’s digital transformation and strengthens Quotey’s commitment to providing streamlined quoting experiences for niche and rural risks. The launch expands access to MFI’s trusted Hobby Farm product, which offers tailored coverage for part-time farming operations, mixed residential and agricultural risks, and rural properties with unique characteristics. The full sales lifecycle—from quote to bind—is handled within Quotey’s intuitive digital platform. | Insurance-Canada.caOneDigital, a US-based insurance brokerage, financial services and workforce consulting firm, secured a majority investment from funds managed by Stone Point Capital and Canada Pension Plan Investment Board (CPP Investments)
The transaction values OneDigital at over US$7B and is intended to support continued expansion through both organic growth and strategic acquisitions. OneDigital provides integrated solutions across five verticals: employee benefits and HR, retirement and wealth management, property and casualty, PEO, and Medicare Advantage. | Insurance Business Mag. -
Flybits, a Toronto-based contextual engagement platform for the financial industry launches Agentic Banking capability
Building on this foundation, Flybits is introducing agentic AI as the new interface for banking: natural, contextual agents that unify cards, loans, deposits, and more into connected, customer-first experiences. By pairing enterprise-grade data orchestration with agentic, human-centered AI design, Flybits is turning customer data into a responsible competitive advantage, with measurable impact, and with an innovation cycle fit for the AI era. | FlybitsFIS, US-based global FinTech firm acquires Amount, US-based lending SaaS platform to deliver unified digital account origination, empowering financial institutions to accelerate growth and simplify banking
With the addition of Amount, FIS strategically expands its portfolio of innovative solutions that support the world’s money lifecycle, encompassing when money is at rest, in motion and at work. This acquisition aligns with FIS’ strategy to add innovative, cloud-native and modular solutions to drive greater value for its clients across the money lifecycle. The Amount platform, integrated into FIS digital, core banking and card systems, will help FIS clients grow deposits, loans and card portfolios efficiently and securely. | FIS Global -
Simple Ventures, Toronto-based venture studio builder raised $15M to accelerate the creation of new companies at home and entice Canadian founders abroad to return
The round drew backing from TD Innovation Partners (TDIP), Sun Life, Sobeys, and high-profile founder-operators including Mike Katchen (Wealthsimple), Harley Finkelstein (Shopify), and Joanna Griffiths (Knix), alongside other prolific investors and family offices. Simple Ventures builds companies from the ground up, funds them to scale, and de-risks the founder journey through its network and community. To date, Simple Ventures has launched three companies: Alma Care (maternal health), Harvest (SMB invoice collection), and Zero Collective (sustainable luxury fashion). | Fintech.caTelegraph Ventures, a Montreal-based VC firm secures $35M to back enterprise AI startups in Québec from the Québec government through Investissement Québec, Teralys Capital, Inovia Capital, and more than 40 entrepreneurs and family offices
It is a spinoff of European venture firm Telegraph Hill Capital. The fund plans to reach $40 million before the end of the year. With the backing from Québec’s public sector, Telegraph Ventures is hoping to fill a gap in pre-seed and seed funding for tech startups. | BetaKit -
Cohere, Toronto-based AI platform raised $100M in new funding and achieved valuation of $7B
The company aims to use this funding to further accelerate the development and global adoption of oursecurity-first enterprise AI technology across the public and private sectors. The announcement comes weeks after Cohere raised $500 million in new funding at a $6.8 billion valuation in a round that included investments from Nvidia, AMD and Salesforce. Those investors were back for this latest round, along with new backers Nexxus Capital Management and the Business Development Bank of Canada (BDC). | PYMNTS -
Nesto, Montréal-based mortgage lender officially launched Nesto Cloud an expanded product for financial institutions
It is a technology suite that helps financial institutions integrate the company’s mortgage lending platform into their consumer products. The startup’s position in the market—providing white-labelled tech to financial institutions— feeds into a trend of FinTech companies collaborating with the very banks they compete against. | BetaKit -
Tilt, US-based AI-powered direct indexing platform, has raised a $7.1 million seed round led by Toronto-based VC firm Portage and US-based Lerer Hippeau
It also saw participation from Golden Ventures, Real Ventures, Cumberland Investments, and FJ Labs. The company officially launched the platform on September 22nd at Portage’s Confluence event. Tilt is pioneering a new approach to wealth management by enabling advisors, TAMPs, and RIAs to deliver scalable, zero-minimum indices with real-time tax optimization, starting at 3 basis points. | Business Wire -
Mycroft, Toronto-based AI-driven security and compliance platform provider, emerged from stealth raising $3.5M to expand its offering in the enterprise market
The seed round was led by Luge Capital, with participation from Brightspark Ventures and Graphite Ventures. Existing investors Ripple Ventures, Developer Capital, Antler and BoxOne Ventures also took part in the round. The new funding will be used to accelerate product development and extend the reach of Mycroft’s AI agents, which are designed to deliver enterprise-grade security without the operational burden. The company has already secured over 50 customers in just six months, including firms such as Superwhisper, CoVet, Unified, Willful, Wisedocs and Weave. | FinTech Global -
Quarters, a Toronto-based proptech and Flinks, Montreal-based open banking provider partner to provide Canadians with a new way to save for a home
Through this partnership, Quarters now leverages users' financial data to reward them for what they're already doing: spending, earning, hitting milestones, and more. With Flinks' secure infrastructure, Quarters turns everyday activity into meaningful progress toward housing affordability. | Newswire
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