Over $800m raised in this week's 24 FinTech deals

Over $800m raised in this week's 24 FinTech deals

Top Story of the Week

What 2023 will mean for FinTech

Last year was quite the rollercoaster. As 2023 kicks off, what will the biggest developments and trends will be? Here is a look at some of those. The financial market has taken a beating over the past year, and everyone is back into a situation of survival. The effects of this are already being felt across the FinTech sector.

Read the full story?here.


Research highlight

Strong Q4 can’t save Canadian FinTech in 2022 as deal activity drops 29% YoY

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? The last quarter of 2022 saw an uptick in Canadian FinTech deal activity reaching 59 deals, a 40% increase from the previous quarter. This brought total FinTech transactions for the year to 208. FinTech investment in Q4 also increased reaching $530m, a 90% increase from Q3 although overall FinTech investment in the country dropped in 2022 to $2.9bn, a 27% reduction from 2021.

? TouchBistro, an All-in-One Restaurant Management System that offers a point-of-sale system for restaurants, was the largest FinTech deal in Q4 2022 raising $110m in their latest Private Equity funding round led by Francisco Partners. The funds will be used by TouchBistro to accelerate the company’s growth initiatives, including expanding product offerings, core services, and strategic acquisitions as it continues to meet the evolving needs of its customers.

? The Canadian federal government is expected to roll out an open banking system by early 2023, with working groups under way in summer 2022. Supporters claim this system will give Canadians access to a wider range of financial products and services, which include: making it easier to switch financial institutions, reducing fees on transactions and making the financial system more equitable for marginalized Canadians. That includes the millions of consumers without a bank account or who aren’t adequately served by mainstream financial services. The Canadian Prepaid Payments Organization (CPPO) estimated 10 to 20 percent of Canadians are either unbanked or underbanked in 2021. Data collected by Mambu stated that 57% of Canadians see data sharing as their biggest concern with open banking and 42% believe that it is a dangerous use of data sharing.

Read more of our research?here.


Weekly FinTech deal roundup

FinTech sector gathers momentum - The FinTech sector gained momentum this week with a total of 24 deals and over $800m raised.

Read the full story?here.


RegTech news

  • Don’t switch off unified communication tools for compliance?- Unified communication tools have transformed how businesses communicate, but they come with greater compliance challenges. Theta Lake director of global marketing Gareth Landers believes the business benefits of unified communication tools outweighs the challenges. Read the full story?here.
  • The RegTech trends to watch out for in 2023 - Hybrid work has split teams across multiple locations, but teamwork and collaboration are still the core of any organisation. The speed information can be shared across an organisation can make or break the company. Read the full story?here.
  • New alliance forms to guide UK’s digital currency - Five associations have formed an alliance to help guide the UK’s digital currency future, through better policies, practice and regulation. Read the full story?here.


Don't Miss Out - AML & FinCrime Tech Forum will be hosted on 31st January 2023!

Join us at the 3rd annual AML & FinCrime Tech Forum to learn about the latest frauds and threats in financial services and how financial institutions are partnering with tech companies to combat them. Find out more?here.


InsurTech news


WealthTech news


CyberTech news


Don't Miss Out - Financial Services CyberTech Forum will be hosted on 21st February 2023!

We are excited to announce that the?CyberTech Forum?is returning again for its 4th annual edition as a physical event. Find out more?here.


ESG FinTech new


Other FinTech news



Michael Dibia Nwaobi

Student at Teesside University

2 年

You are just blocking more ways for your future generations and by the time you IT are gone then your generation will pay heavily for your evils.

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