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Total investment in Canadian fintech from venture capital, private equity and mergers and acquisitions was US$2.4 billion across 113 deals in 2025, compared to US$9.9 billion from 161 deals in 2024, according to data compiled by PitchBook for KPMG in Canada. (The Logic)
Talking point: A release from KPMG noted the decline isn’t as dramatic as it sounds, given that 2024’s total was boosted by two megadeals: the US$6.3-billion buyout of payments firm Nuvei, and a US$1-billion private equity investment in Montreal’s Plusgrade. In the release, KPMG Canada partner and fintech specialist Dubie Cunningham said she expects Canada’s open banking framework, which Ottawa has pledged to launch this year, will benefit challenger banks and drive more investment in 2026. In October, Toronto fintech Wealthsimple raised $750 million at a $10-billion valuation, double the amount it was last valued at a year earlier.
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