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Canadian fintech firms have been waiting with bated breath for the first phase of open banking that was set to launch later this year. Instead, many in the…

Critics are concerned reform initiatives will become unmanageable

Why Did Drake Just Invest in This $5 Billion Canadian Tech Company? More on: Image source: Getty Images A Canadian fintech startup has plenty of star power. The valuation of Toronto-based Wealthsimple soared to $5 billion after raising $750 million in investments from venture capital investment firms and celebrities on May 3, 2021. Among the star-studded investors were rapper Drake, Green Lantern star Ryan Reynolds, and Back to the Future lead actor Michael J. Fox. Wealthsimple is the firm behind some of the leading digital financial products in Canada. Furthermore, it ...

Toronto-based Wealthsimple has launched its previously-announced Shariah-compliant exchange-traded fund (ETF) on the NEO Exchange. This represents the first NEO-listed ETF by Wealthsimple. The NEO Exchange was founded in 2015 and claims to be the third most active marketplace in Canada, representing approximately 13 percent of all volume traded in Canadian-listed securities and almost 100 public listings. The Wealthsimple Shariah World Equity Index ETF marks NEO’s 100th fund listing. “We applaud Wealthsimple for providing an investment product that addresses the under-serviced but importa...

Fiona Collie Canada’s wealth management fintech space, like a gangling teenager, has undergone a noticeable change in recent years. Since the launch of robo-advisors in Canada more than five years ago, the fintech space has grown as companies have found their niches — either in the B2B or B2C market — and hired employees with skills and knowledge of the investment industry. “I think the bench strength of these companies has improved,” said Rob Baldassare, senior advisor, fintech, with MaRS Discovery District in Toronto. He said fintechs have benefited from both organic growth and hi...