Top 10 Fintech Companies In Canada (2024)

What are Fintech companies? ‘Fintech’ is the combination of the words- finance and technology. That should give you at least, a little knowledge about what the term entails. Fintech refers to computer programs and other technologies that are utilized to support or enable banking and financial services. Fintech companies are organizations that specialize in the development of technologies for financial intermediation and transaction execution. The Fintech industry is one of those sectors that are gaining more popularity and attention in the modern world. 

Canada is one of the most developed countries on the globe. Besides, the Fintech industry in the country isn’t bad at all. Several Fintech companies in Canada are known and used worldwide. Moreover, in this article, we will provide you with the top ten Fintech companies in Canada. If you want to know the best Fintech companies in the company, then, you at the right place. Check below to view the list of the best ten Fintech corporations in the country. 

Top 10 Fintech Companies In Canada

1. Shopify

Shopify was founded by Thobia Lutke, Daniel Weinand, and Scott Lake in 2004. The company is located in Ottawa, Ontario, Canada. Shopify is a Canadian e-commerce corporation that creates software online retail point-of-sale systems and stores. The corporation provides its customers with a wide variety of services such as marketing, shipping, payments, and customer engagement solutions. As of January 2021, the company claims that it has over 1,000,000 businesses from all across the world utilizing its services. Shopify maintains its aim in making commerce better for everyone. The company helps people achieve independence by making it easier to start, run and grow a business. Shopify believes the future of global commerce is bright and full of opportunities. The company is always ready to bring those opportunities closer to people. 

2. Financeit

Financeit is a privately held fintech company that was founded in 2011 by Michael Garrity. The company is located in Toronto, Ontario, Canada. Financeit claims to offer a large and comprehensive suite of tools and technologies that can assist in simplifying the complex sales transaction for businesses and their customers.

Financeit helps businesses of any size to achieve more sales by offering clients affordable monthly payment options for their next big home improvement, vehicle, or retail purchase. The company works with great values such as fairness, drive, excellence, personality, trust, and service. The company works to ensure that business organizations achieve sales improvement anywhere, anytime with amazing financial options.  

3. Zaffin

Zaffin is a privately directed company that was founded in 2002. The corporation is located in Toronto, Ontario, Canada. Zaffin mainly deals with the provision of SaaS Cloud-native products and services. The company separates product and pricing from core processing to accelerate progressive modernization, enable digital transformation, and provide world-class business personalization.

A Zafin installation integrates easily with most back-end systems and customer-facing channels to improve product and pricing efficiency and agility, drive interest and non-interest income, and deliver a positive ROI—most times, in one year or less.  Banks on the Zafin platform innovate freely and serve fully, executing product and pricing solutions in half the time while offering market-leading value propositions that recognize and reward customers for the full extent of their financial relationships.

4. Blockstream

Blockstream was founded in 2014 by Gregory Maxwell and Adam Back. Blockstream is a blockchain technology company. The corporation develops bitcoin software as well as other applications. Blockstream claims to be the leading provider of blockchain technologies and has remained at the forefront of work in cryptography and distributed systems.

The main mission of Blockstream is to create the financial infrastructure of the future. With a long-term outlook on delivering robust and scalable services, Blockstream invests greatly in research and development to strengthen the Bitcoin ecosystem and protocol. The core values with which the company offers its services include; innovation, opportunity generation, and verification. 

5. Verafin

Verafin was founded on November 19, 2003, by Bredan Brothers, Raymond Pretty, and Jamie King. The three founders were engineers that involved themselves in artificial intelligence and decision-making systems. The company is located at St. John’s, Newfoundland, and Labrador, Canada. Verafin as one of the top fintech companies in Canada, is an industry pioneer in anti-financial crime management solutions, with a mission to develop the world’s most effective crime-fighting network. The company works consistently to ensure that provides the best financial crime management services. Verafin was built on a foundation of caring, innovation, and teamwork. The corporation’s team members are positive about the solutions that they render and they are always looking forward to improving them. 

6. SnapFinancial

SnapFinancial is a private organization that was founded in 2006 and is located in Vancouver, British Columbia, Canada. The company assists other businesses to grow by providing them with turnkey and customs financing programs. SnapFinacial claims to have worked with reputable home improvement service providers, commercial equipment dealers, and insurance brokers.

SnapFinancial utilizes seamless loan origination systems, world-class training support, and responsive reviews to help customers successfully integrate financing into sales and marketing. The company always works to ensure that its partners; business administration improves by helping their customers win. The company’s team provides services to people in Canada and the United States. 

7. FundThrough

FundThroug was founded in 2014 and is located in Toronto, Ontario, Canada. The company works mainly to assist its customers to achieve unlimited capital based on the values of their outstanding customer invoices.  The platform allows businesses to connect their accounting software and directly submit invoices for funding. The company serves customers across the United States and Canada.

8. PayFirma

PayFirma is a private corporation that was founded in 2011. The company was created by Michael Gokturk and is located in Vancouver, British Columbia, Canada. PayFirma is a payment company that makes it easy for businesses to accept credit and debit cards online, in-stores, and on mobile devices.

9. WealthSimple

WealthSimple was founded in 2014 by Michael Katchen. The company utilizes the internet to provide investment that is affordable to manage, safe, and predictable. The company gives each customer an investment advisor who helps match investment to the customer’s risk tolerance and long-term goals. 

10. Grow

This organization provides a better way to borrow for their customers: one that is faster, cheaper, more convenient, and less expensive than obtaining a loan through a bank. They have best-in-class technology that connects borrowers and private investors through an easy-to-use web platform that ensures prompt service and competitive rates. 

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Conclusion

Fintech is highly important for any business that is willing to improve sales and general administration. The services of Fintech companies bring about more alternatives, greater speed and convenience, increased transparency, and world-class security. Moreover, Canada is a country with lots of Fintech companies. Besides, in this article, the list of the top ten ones has been provided. Check above to view these companies.