Investment in fintech startups totalled almost $221 million in 25 deals throughout 2018. Despite the growth, the Toronto region holds a smaller share of global fintech investment in terms of the number and size of deals when compared to other major financial centres like San Francisco, London and New York. (BetaKit)
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Investment in fintech startups totalled almost $221 million in 25 deals throughout 2018. Despite the growth, the Toronto region holds a smaller share of global fintech investment in terms of the number and size of deals when compared to other major financial centres like San Francisco, London and New York. (BetaKit)
Talking point: This new report from Toronto Finance International follows one from KPMG which looked at fintech investment in the first half of 2018 and found that, while Canada’s fintech sector saw what it called a high volume of deals, their value declined from $510 million in the second half of 2017 to $263 million in the first half of 2018. The federal government was expected to make changes to the Bank Act in 2019 to mandate some level of open banking, which could spur further investment in the sector. The government’s consultations on open banking ended in February, which doesn’t leave a lot of time to mandate the changes that might benefit fintech startups by the end of this year.
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