Fathom4sight Newsletter: Weekly FinTech news curated by Fathom4sight!
Friday January 17, 2024
Top FinTech News Headlines this Week
?? Toronto-based SME challenger bank Float raises $70M CAD in Series B
?? Montreal-based revenue architecture platform Vasco raises $11.5M CAD to help startups manage revenue trajectory with AI
???US-based payment orchestrator Transcard enters Canadian Market
?? Toronto-based CapIntel celebrates successful rollout with Canada Life, paving the way for elevated client-advisor experiences
?? Adyen announces the launch of Adyen Uplift - an AI-powered payment optimization suite
???Toronto-based Ratehub launches new personal loans marketplace to empower Canadian borrowers
???Square partners with Ottawa-based open banking platform Salt Edge to offer Open Banking capabilities to UK-Based SMEs
???BMO and Florida-based alternative asset management firm Canal Road Group (CRG) form strategic partnership aimed at providing direct lending to upper middle-market companies
?? TD Bank wins 2025 Business Intelligence Group (BIG) Innovation Awards for fourth consecutive year
?? J.P. Morgan Payments unveiled two new proprietary payment terminals that integrate in-store biometric authentication with payment capabilities
Challenger Banking
The round was led by Growth Equity at Goldman Sachs Alternatives, with participation from OMERS Ventures, FJ Labs, Teralys and existing investor Garage Capital. The company intends to use the funds to to further broaden its product suite, hire talent and expand its leadership in the Canadian market. | BetaKit
Lending
Ratehub expanded its suite of financial tools with the launch of its new personal loans marketplace, aiming to simplify borrowing for Canadians. The move aligns with Ratehub’s broader mission to provide consumers with comprehensive financial solutions and guidance. | Fintech.ca
Klarna is reportedly selling a portfolio of installment loans as it prepares to go public. | PMYNTS
Financial Institutions
The partnership aims to enhance access to private lending capital, combining BMO's client reach and capital markets expertise with CRG's investment management capabilities, while holding a non-voting minority stake in CRG's management company. | BMO
TD wins in two award categories for TD Invent and TD Immersive Learning. For the fourth consecutive year, TD Bank Group (TD) has been recognized by the Business Intelligence Group (BIG) through the 2025 BIG Innovation Awards, for providing immersive and inclusive experiences and driving forward-focused enterprise innovation.?| TD
The regulator in the United States has charged a unit of the Bank of Montreal (BMO) more than US$40 million for selling mortgage-backed bonds that it says offered misleading metrics and did not accurately describe the characteristics of the collateral backing the bonds. | Financial Post
RBC and City National Bank donate $3M to aid wildfire victims in Southern California, supporting organizations like the American Red Cross, World Central Kitchen, and United Way of Greater Los Angeles, including $250K to the ARC Disaster Responder Program. | RBC
CIBC announced it is donating US$100,000 to the American Red Cross to support wildfire relief efforts in Southern California. | CIBC
Payments
领英推荐
Transcard launches in Canada, integrating local payment rails and supporting Canadian French. The company focuses on client needs, market demands, and regulatory compliance. | The Paypers
It aims to help streamline and simplify payment operations for sellers in the UK. | Fintech Finance News
It aims to help businesses increase payment conversion, simplify fraud management, and reduce the cost of payments. Adyen’s customers can utilize data-driven, tailored performance recommendations and opportunities to test different payment configurations to maximize performance. | Fintech Finance News
The terminals — a payment tablet called J.P. Morgan Paypad and a payment pin pad called J.P. Morgan Pinpad — are scheduled to be released in the United States in the second half and rolled out internationally after that. | PYMNTS
Apple is reportedly in talks with Barclays and Synchrony Financial to replace Goldman Sachs as its credit card partner. This potential shift comes as Goldman reassesses its consumer finance ambitions, signaling a possible early termination of its Apple Card partnership, originally set to run through 2030. | Payments Cards & Mobile
The Consumer Financial Protection Bureau (CFPB) is seeking public comment on how existing laws apply to emerging consumer payment mechanisms offered through tech companies and video gaming platforms as well as to stablecoins and other digital currencies.?| PYMNTS
Crypto & DeFi
BlackRock launches the iShares Bitcoin ETF (IBIT) on Cboe Canada, offering Canadian investors convenient access to bitcoin through brokerage accounts.?| Fintech Finance News
Insurance
Cal LeGrow Insurance and Financial Group merges with MacLeod Lorway Financial Group to create Atlantic Canada’s largest independent insurance broker, with over $130M in combined premium volume. | Insurance-Canada.ca
The merger of the three major Québec general insurance firms is an ambitious venture that will give these historically rich companies an even stronger and more engaged presence in the communities where they all have been established for decades. | Insurance-Canada.ca
Wealth Management
Companies working together to enhance client engagement, streamline workflows, and improve portfolio analysis.?| Business Wire
Others
Vasco’s revenue management platform aims to solve go-to-market challenges and eliminate revenue blindspots for startups so they can scale effectively. The company says the funding will go towards enhancing the platform’s AI solutions and expanding its client base globally.?| BetaKit
Intuit is currently recruiting in Toronto to help build an AI platform designed to solve financial challenges for approximately 100 million global customers. Drawing on four decades of Intuit’s data, the platform uses AI to simplify and improve how individuals and businesses manage their money.?| BetaKit
League reports 160% year-over-year growth, reaching 40M users under contract. A $100M credit facility with RBCx will fund platform development, sales expansion, and M&A opportunities.?| RBCx
It looks to hire talent for its new San Francisco home. The company, which develops an artificial intelligence (AI)-powered workflow automation platform, raised the all-equity round from round leader Nexus Venture Partners with participation from return investors First Round Capital and Y Combinator.?| BetaKit
Stellar lineup of fintech players! Thanks for the shout-out Fathom4sight