Weekly FinTech & Financial News
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Top FinTech Updates this Week
💰 Float, a Toronto-based SMB challenger bank secured nearly $100M CAD in debt to expand credit products for Canadian businesses
💼 Coincheck, Japan-based crypto asset exchange service provider to acquire 3iQ, Toronto-based digital assets managed account platform majority stake for $111.8M
💼 PayPal to acquire Cymbio, Israel-based multi-channel orchestration platform, accelerating agentic commerce capabilities
💼 ClearScore, UK-based credit marketplace enters mortgage industry through the acquisition of Acre Platforms, UK-based mortgage & protection software
🤝 Borderless AI, Toronto-based AI powered HR solution platform partners with ADP, US-based HR services provider to expand ADP Marketplace presence across the U.S. and Canada
🤝 Homie, a Montreal-based credit planning platform focused on first-time homebuyers, has partnered with TMG – The Mortgage Group, a Vancouver-based national mortgage brokerage to help mortgage brokers turn "maybe some day" home-buyers into mortgage-ready homeowners
🤝 Fiserv, a global payments and financial technology firm is preparing to extend Clover, its flagship suite of point-of-sale (POS) to merchants in Japan through a new partnership with Sumitomo Mitsui Card Company (SMCC)
🤝 Acturis, Victoria, BC-based software-as-a-service provider to the general insurance industry partners with QuickFacts, Bedford-based insurtech to provide QuickFlows to strengthen broker operations
🌟 Float, Wise, KOHO, Paramount, and Brim are now members of Payments Canada, the organization that underpins the Canadian financial system
Top Financial Institutions Updates this Week
💰 FinDev Canada, Montreal-based bilateral development finance institution (DFI) provided a $15M loan to the Lendable MSME Fintech Credit Fund II (LMFCF II), a 7year global-focused debt fund with a target size of $250M
💼 Capital One entered into a definitive agreement to acquire Brex, a US-based corporate card and spend management platform, in a combination of stock and cash transaction valued at $5.15B
🚀 BMO launched Blue Rewards, a bold transformation of the iconic AIR MILES program, designed to deliver a rewarding, seamless and personalized loyalty experience for all Canadians
🤝 Shell Canada is joining the Scene+ loyalty partner network – teaming up with Scene+, Scotiabank and Tangerine to help eligible members to save and earn rewards on everyday essentials like fuel, groceries, entertainment, banking and travel
🌟 Y Combinator revised its standard deal terms to exclude Canada as a permitted site of investment
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PayPal to acquire Cymbio, Israel-based multi-channel orchestration platform, accelerating agentic commerce capabilities. PayPal previously partnered with Cymbio as part of its agentic commerce services, a suite of solutions that allows merchants to attract customers and drive sales in the new era of AI-powered commerce. As part of PayPal, Cymbio’s team and technology will enable Store Sync, one of PayPal’s agentic commerce services. Store Sync makes merchants’ product data discoverable within AI channels, and it includes the ability to seamlessly drop orders to their existing fulfillment and management systems. Importantly, merchants remain the merchant of record and retain customer relationships and control over their brand. | Fintech Finance News
Fiserv, a global payments and financial technology firm is preparing to extend Clover, its flagship suite of point-of-sale (POS) to merchants in Japan through a new partnership with Sumitomo Mitsui Card Company (SMCC). Working with SMCC to bring Clover to Japan, Fiserv says Clover will make its market debut "in late 2026", and will be tailored to the country's "unique business environment". The regional offering will comprise "multistore support, smartphone-based operations, and centralised management tools" for local small businesses, targeting the retail, food and beverage and professional services sectors. | FinTech Futures
Float, Wise, KOHO, Paramount, and Brim are now members of Payments Canada, the organization that underpins the Canadian financial system. With their membership, the companies can now apply to participate in payments infrastructure projects and rely less on third-party intermediaries to handle their transactions. The FinTech firms became eligible for membership back in October when the Bank of Canada named them in its first tranche of registered payment service providers. The new members are eligible to apply for access to new infrastructure for different payment needs, like the retail batch payment system, the high-value payment system, and the forthcoming RTR system. | BetaKit
Mastercard launches Agent Suite to ready enterprises for a new era. Mastercard Agent Suite will combine technical support with customizable AI agents, leveraging Mastercard’s extensive payments expertise, data-fueled insights, proprietary technology platforms, and 4,000 global advisors. Mastercard Agent Suite will be available in the second quarter of this year and will complement the company’s broad range of AI and agentic AI solutions – which enhance security, optimize payments, improve the user experience, and drive growth through insights – making commerce smarter, more secure, and more personal. Mastercard Agent Suite is an extension of Mastercard’s standards, programs and capabilities to help customers lead in an agentic age. | Fintech Finance News
Mercuryo, a UK-based cryptocurrency payment infrastructure provider partnered with Visa to provide fast and user-friendly crypto-to-fiat global off-ramping via Visa Direct. Mercuryo’s further coverage of Visa Direct will enhance its off-ramp services across the globe, providing the platform’s eligible user base with the ability to convert their digital token holdings into fiat on a Visa credit or debit card in near real time and at low cost. Mercuryo’s partnership with Visa enables the Visa Direct service to utilize the payment infrastructure platform’s network of leading non-custodial wallets, exchanges and payment networks. The integration will allow millions of users to obtain access to an intuitive crypto-to-fiat conversion tool without leaving the platforms that they trust. | Fintech Finance News
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Capital One entered into a definitive agreement to acquire Brex, a US-based corporate card and spend management platform, in a combination of stock and cash transaction valued at $5.15B. Upon completion of the transaction, Founder & CEO of Brex - Pedro Franceschi will continue to lead Brex as part of Capital One. The transaction is expected to close in the middle of calendar year 2026, subject to the satisfaction of customary closing conditions. | Capital One
FinDev Canada, Montreal-based bilateral development finance institution (DFI) provided a $15M loan to the Lendable MSME Fintech Credit Fund II (LMFCF II), a 7year global-focused debt fund with a target size of $250M. The fund operates in Latin America, Africa, and Southeast Asia, and has a focus on promoting financial inclusion and gender equality. FinDev Canada’s contribution will enable LMFCF II to build a diversified portfolio of loans to FinTechs supporting micro, small, and medium-sized enterprises (MSMEs), women-owned businesses, and digitally enabled, low-income consumer lenders. This will increase access to tailored financial products for underserved segments. | Africa Private Equity News
BMO launched Blue Rewards, a bold transformation of the iconic AIR MILES program, designed to deliver a rewarding, seamless and personalized loyalty experience for all Canadians. Launching in summer 2026, the AIR MILES program will transition to Blue Rewards, which will continue to be run by a subsidiary of BMO, and will offer greater flexibility, enriched benefits, expanded partnerships, and a new streamlined digital experience empowering millions of members with innovative ways to earn, redeem, and make real financial progress. Available for all Canadians through a newly designed Blue Rewards app, and for BMO clients through seamless integration with BMO's Mobile Banking app and Online Banking platform, Blue Rewards will make it easier than ever for members to unlock more value from their spending. | BMO
Shell Canada is joining the Scene+ loyalty partner network – teaming up with Scene+, Scotiabank and Tangerine to help eligible members to save and earn rewards on everyday essentials like fuel, groceries, entertainment, banking and travel. It creates more opportunities for Canadians to put rewards to work for them in places they shop every day. Scene+ is one of Canada's leading loyalty programs with over 15 million members. Co-owned by Scotiabank, Empire Company Limited and Cineplex Inc., Scene+ is fueling more rewards with Shell, making it easier for members to earn Scene+ points on everyday trips to the pump. As part of this exclusive offering, Scotiabank and Tangerine clients with eligible payment cards will unlock even more everyday value and benefits, including instant savings at the pump at participating Shell locations. | Scotiabank
Bank of Canada maintained its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. The outlook for the global and Canadian economies is little changed relative to the projection in the October Monetary Policy Report (MPR). However, the outlook is vulnerable to unpredictable US trade policies and geopolitical risks. Global financial conditions have remained accommodative overall. US trade restrictions and uncertainty continue to disrupt growth in Canada. After a strong third quarter, GDP growth in the fourth quarter likely stalled. Economic growth is projected to be modest in the near term as population growth slows and Canada adjusts to US protectionism. CPI inflation picked up in December to 2.4%, boosted by base-year effects linked to last winter’s GST/HST holiday. Monetary policy is focused on keeping inflation close to the 2% target while helping the economy through this period of structural adjustment. | Bank of Canada
RBC launched its new RBC Next Step Scholarship suite, a collection of three scholarships designed to support Canadian learners and youth at every stage of their educational and career journeys. The RBC Next Step Scholarships will award more than $1.5 million to 640 Canadians annually to prepare for first jobs, enter post-secondary education, or reskill for new careers. The RBC Next Step Scholarships include: RBC Ignite Scholarship: fueling youth skills development, RBC Elevate Scholarship: helping expand access to post-secondary education and RBC Reimagine Scholarship: supporting upskilling and reskilling opportunities. | RBC
JPMorganChase acquired WealthOS, an UK-based pensions and wealth management technology platform. The WealthOS deal give JPMorgan "access to cutting-edge technology and deep sector expertise" in the retirement planning arena, with the entire workforce staying in place. | Finextra
Desjardins Capital along with other investors funded $110M USD to Vention, a Montreal -based developer of AI-powered software and hardware platforms for automation and robotics. Other participants included Investissement Québec, certain funds managed by Fidelity Investments Canada ULC, NVentures and others. The company intends to sue the funds to accelerate Physical AI research, bring new capabilities to its software platform, expand its portfolio of pre-engineered applications, and strengthen its global footprint across North America and Europe. | FinSMEs
Standard Chartered launched its new AI-powered platform, a digital innovation designed to help bankers quickly access, tailor, and deliver high-quality transaction banking services for corporate and institutional clients. The platform automates and enhances how we access, select, and tailor client solutions – helping our bankers spend less time on manual search and more time on insights, strategy, and client engagement. The platform also serves as a single access point for the latest product and market capabilities – enabling quicker responses and more informed client conversations. The platform is built for continuous enhancement and innovation – supporting continuous innovation without disruption. Its scalable foundation and integration-ready design also make it easy to connect with other platforms and technologies – ensuring long-term value and impact. The platform enhances every stage of the client engagement journey – from understanding client needs and requirements through to creating and delivering client solutions. | Fintech Finance News
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Coincheck, Japan-based crypto asset exchange service provider to acquire 3iQ, Toronto-based digital assets managed account platform majority stake for $111.8M. The $111.8 million deal could see Coincheck take full ownership of 3iQ, a Canadian firm known for its Bitcoin and Ethereum funds traded on major stock exchanges. This transaction is expected to close in Q2 2026, subject to regulatory approval, with Coincheck also planning to offer the same terms to minority shareholders, potentially acquiring 100% ownership of 3iQ. | FinTech Futures
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Homie, a Montreal-based credit planning platform focused on first-time homebuyers, has partnered with TMG – The Mortgage Group, a Vancouver-based national mortgage brokerage to help mortgage brokers turn "maybe some day" home-buyers into mortgage-ready homeowners. Through this collaboration, TMG will offer free access to Homie via its national network, empowering buyers to create a personalized financial plan and reconnect with a broker at the right time. As part of the partnership, TMG will hold exclusive rights for Homie within the brokerage channel for the first three months following launch. | Globe Newswire
ClearScore, UK-based credit marketplace enters mortgage industry through the acquisition of Acre Platforms, UK-based mortgage & protection software. Financial terms of the deal were not disclosed. Acre marks a diversification for ClearScore, helping to deliver a home-buying experience to its 16 million-strong user base in the UK. The group will then extend its mortgage platform into the ClearScore businesses in South Africa, Australia, New Zealand and Canada. | Finextra
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Y Combinator revised its standard deal terms to exclude Canada as a permitted site of investment. Change implies Canadian startups have to incorporate in the US, Cayman Islands, or Singapore to join the prestigious San Francisco-based startup accelerator. | BetaKit
CIBC Innovation Banking provided growth financing to Recare, a Berlin-based provider of technology solutions for hospitals and care providers, as part of its €37M funding round. This funding will accelerate the company's introduction of a new AI agent to hospitals and care facilities and expand its international footprint. Recare provides its software platform to two-thirds of German hospitals and more than 26,000 care providers, helping simplify discharge management and aftercare. Recare’s AI agent enables care providers to automate administrative tasks and coordinate workflows, reducing the workload on healthcare professionals. | CIBC
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Float, a Toronto-based SMB challenger bank secured nearly $100M CAD in debt to expand credit products for Canadian businesses. The new funds, will allow it to continue offering four-percent interest on client deposits, and scale its interest-free credit product for small and medium-sized enterprise (SME) clients. It raised the debt through two facilities—$75M from Silicon Valley Bank, which is now a division of Raleigh, NC-based First Citizens Bank, and $20M from an undisclosed Canadian Schedule I bank. Float is framing its new funding as a mechanism to help its Canadian SMEs clients get more flexible with their spending. | BetaKit
Revolut Business introduces subscriptions to power full revenue operations, eliminating separate business software fees. Through an enhancement of the technical infrastructure, this tool allows merchants to build, automate and optimise subscription plans directly within their Revolut Business app, cementing the platform’s evolution from a payments processor to full revenue operations partner. | Fintech Finance News
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Acturis, Victoria, BC-based software-as-a-service provider to the general insurance industry partners with QuickFacts, Bedford-based insurtech to provide QuickFlows to strengthen broker operations. QuickFlows, part of Workflows software, gives brokers structured, customizable processes directly in QuickFacts. They reflect best practices for Broker Management Systems and can be tailored to fit each brokerage’s unique operations. These guided processes supplement the workflows already in place for brokers to navigate Acturis, helping them work more efficiently and consistently across their teams. | QuickFacts
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Borderless AI, Toronto-based AI powered HR solution platform partners with ADP, US-based HR services provider to expand ADP Marketplace presence across the U.S. and Canada. Borderless AI, is integrating with ADP Workforce Now and is now live on both the ADP Marketplace (U.S.) and ADP Marketplace Canada, making it easier for organizations to connect their core HR system to a modern platform for global employment, payroll, and contractor management. This milestone significantly expands access to Borderless AI’s EOR solution for ADP customers building international teams, supporting compliant hiring in 170+ countries with less manual work, fewer disconnected systems, and a cleaner flow of workforce data between Borderless AI and ADP Workforce Now. | Borderless AI
Billdr, Montreal-based construction management software relaunches with $4.4M CAD in seed funding to accelerate the growth of its vertical SaaS offering for small and medium-sized general contractors (GCs). The company hopes to use the funding to deliver on its plan to become “the operating system” for construction. Billdr’s all-equity, all-primary seed round, which closed this month, was led by White Star Capital with support from fellow new investor Desjardins Capital, as well as existing backers One Way Ventures, asterX, and Formentera Capital. Billdr is building an offering designed to help GCs save time and money managing customer relationships, estimates, invoicing, project and team management, and payments. With its seed funding, the company plans to execute on its AI strategy, begin developing more financial infrastructure (such as bill pay, corporate cards, lending, and insurance), and start helping its clients access real-time building material pricing. | BetaKit
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