Brussels – The FinTech scene in Canada is booming ahead of this year’s Sibos.
According to figures highlighted by the Toronto Financial Services Alliance (TFSA), Canadian investment activity in the FinTech sector from angel investors, Venture Capitalists (VCs) and corporate VCs increased from US$87.21 million in 2012 to US$367.51 million in 2016.
This doesn’t come as a surprise – the country has long been a pioneer in the digital arena. This extends back to the creation of the first truly smart smartphone, and the establishment of the world’s first Bitcoin ATM in Canada in 2013.
There are now hundreds of innovative FinTech companies, spread across Canada’s major FinTech hubs – Toronto, Calgary, Montreal and Vancouver.
These hubs are making a name for themselves on the world stage. For example, Vancouver has moved up 16 spots on the Global Financial Centres Index (GFCI) from #33 in 2008 to #17 in 2017. And in 2016, The Banker magazine ranked Toronto second amongst North American financial centres and 8th in the world.
Meanwhile in Montreal, over 2,000 students graduate each year with degrees in Finance, adding to the nearly 100,000-strong talent pool that drives financial services in the city. And there are 1,556 financial services businesses in Calgary, where the Top 10 investment banks all have a presence.
To help some of the best local FinTechs showcase their solutions to a global audience, the Canada Lounge at the Metro Toronto Convention Centre (MTCC) will host 32 Canadian FinTech startups throughout Sibos week. The Canada Lounge will be located in the Discover Zone (Level 600).
The startups will rotate throughout the week. Each day, there will be eight startups present in the Canadian FinTech Corner section of the Canada Lounge. Delegates will be able to interact with them to learn more about their offering, and how they may be able to help your business.
Chosen following a competitive, nationwide selection process, the participating startups are active in payments technology, securities markets, cybersecurity and RegTech.
They will also benefit from boot camps with leading FinTech advisers and on-site support from the Canadian Government, which will help them to perfect their propositions.
Sven Bossu, Head of Sibos, says: “There is so much talent across the Canadian FinTech ecosystem. We felt that it was important to create a dedicated space where they could connect with decision makers from around the world to network and build new relationships. I encourage all delegates to make time to visit the Canada Lounge at Sibos 2017. It offers a unique opportunity to meet with the host country’s brightest and most innovative FinTech startups – and you may meet your next business partner there.”