This week’s version of Finovate International showcases latest fintech information from Canada.
Royal Financial institution of Canada acquires mortgagetech Pinch Monetary
The Royal Financial institution of Canada (RBC) has acquired Toronto-based mortgagetech Pinch Monetary. Phrases of the transaction weren’t disclosed, however the transfer is designed to speed up the decisioning course of for mortgage debtors all through the nation.
“This acquisition helps us ship on our dedication to carry one of the best options to shoppers on their path to residence possession,” RBC SVP of Dwelling Fairness Financing Janet Boyle stated in a press release. “Pinch’s expertise will assist us speed up our digital roadmap to ship a faster, extra streamlined mortgage expertise for Canadians.”
Based in 2016, Pinch Monetary provides banks, lenders, and different monetary companies suppliers a platform that permits them to confirm information and automate mortgage purposes. The corporate’s expertise verifies identification, revenue, belongings, liabilities, supply of the down fee, and creditworthiness to ascertain whether or not a borrower meets the necessities—from TDS and FICO to LTV and internet price—for price and underwriting eligibility.
RBC already performs a serious function in Canada’s mortgage market. The acquisition of Pinch Monetary will assist the financial institution serve clients preferring to use for residence loans on-line as an alternative of in-person at a department.
“We began Pinch to make mortgages extra related and acquainted for digital-first customers—making the qualification course of sooner, easier, and extra clear for debtors,” Pinch Monetary CEO Andrew Wells stated. “This acquisition provides us the chance to carry our expertise to extra Canadians whereas being a part of a group that shares our imaginative and prescient for innovation in monetary companies.”
Canada’s largest financial institution by market capitalization and belongings—and one of many largest banks on this planet—RBC serves greater than 19 million shoppers in Canada, the US, and 27 different international locations. Headquartered in Toronto, Ontario, and boasting greater than 101,000 workers, RBC reported whole belongings of $1.9 trillion CAD as of October 31, 2025. Dave McKay is President and CEO.
Wealthsimple turns into first Canadian fintech to hitch SWIFT
Canadian fintech Wealthsimple has secured an enormous “first” and an enormous “second” this week. The agency turned the primary Canadian fintech and the second non-bank fintech on this planet to change into a member of the SWIFT world monetary messaging community. The corporate is presently finishing last technical integration and safety certification forward of a full launch with shoppers anticipated later this spring.
“Many Canadians depend on worldwide wire transfers, and but so far, the expertise has been clunky and costly. We need to repair that,” Wealthsimple VP of Cost Technique Hanna Zaidi stated. “Our SWIFT membership goes to unlock sooner, easier, and extra clear worldwide cash transfers for the greater than three million Canadians who belief Wealthsimple.”
SWIFT’s worldwide messaging community serves 11,000 monetary establishments world wide, facilitating trillions of {dollars} in fee quantity. SWIFT makes the sending and receiving of worldwide cash transfers extra seamless and environment friendly, whereas additionally offering end-to-end monitoring visibility with real-time standing updates.
Wealthsimple’s SWIFT membership is a part of the corporate’s total technique to decrease prices and increase effectivity for cash motion in Canada. Wealthsimple additionally introduced that it is going to be an early adopter of the nation’s pending Actual-Time Rail (RTR) fee system, making its shoppers among the many first to learn from on the spot cash motion between establishments.
Based in 2014 and headquartered in Toronto, Canada, Wealthsimple provides a variety of monetary services, together with managed investing, do-it-yourself buying and selling, cryptocurrency, tax submitting, spending, and saving. The corporate serves greater than three million Canadians and has greater than $100 billion in belongings underneath administration. Co-founder Michael Katchen is CEO.
KPMG: Canada fintech funding “moderated” in 2025
The dangerous information is that funding in Canadian fintech slowed in 2025. The excellent news is that this moderating tempo comes on the heels of report highs notched in 2024.
KPMG Worldwide just lately unveiled its Pulse of Fintech H2’25 and FY25 report. The doc depicts a fintech funding panorama in Canada that has returned to extra historic ranges, with “sustained curiosity in later-stage corporations, platform acquisitions, and strategically vital fintech subsectors equivalent to synthetic intelligence and digital belongings.”
Particularly, the comparability is $2.4 billion throughout 113 offers in 2025 versus $9.9 billion throughout 161 offers in 2024. The report notes that a lot of the deal worth in 2024 got here from two sizable transactions: Nuvei’s $6.3 billion public-to-private buyout and Plusgrade’s $1 billion personal fairness deal. In 2025, the 2 largest investments in Canadian fintech had been the $898 million personal fairness buyout of Converge Expertise Options and Wealthsimple’s $536 million fairness increase.
The report notes that funding exercise within the sector picked up within the second half of 2025, particularly with regard to beneficial properties in common deal worth. Dubie Cunningham, a companion in KPMG Canada’s Banking and Capital Markets Follow specializing in fintech, indicated that she believed the energy within the second half of 2025 augured properly for energy in 2026. “The funding urge for food for Canadian fintechs will proceed to develop in 2026, as buyers prioritize high quality, scale, and strategic match, signaling a market that’s maturing and aligning extra carefully with long-term worth creation,” Cunningham stated.
Learn the total KPMG report for far more.
Right here is our take a look at fintech innovation world wide.
Central and Southern Asia
Pakistan-based digital banking platform Zindigi unveiled what it’s billing because the nation’s first “fintech bank card.”
Indian fintech Cred secured approval from the nation’s central financial institution to function as a fee aggregator.
IBS Intelligence checked out how fintech innovation in India is evolving from transaction rails to monetary information rails.
Latin America and the Caribbean
Asia-Pacific
Cross-border funds platform Neema cast a partnership with China’s Alipay.
NCR Voyix agreed to promote its financial institution expertise enterprise in Japan to NTT Information.
An evaluation of the Australian fintech sector by Deloitte Entry Economics and FinTech Australia reported that the sector may develop to $71 billion in worth by 2035.
Sub-Saharan Africa
Kenya and Rwanda inked an settlement that might allow digital funds corporations licensed in a single nation to function within the different.
South African fintech PayInc and First Capital Financial institution Botswana teamed as much as launch on the spot cross-border funds.
The Fintech Occasions analyzed the fintech ecosystem of West African nation, Burkina Faso.
Central and Japanese Europe
A part of Estonia’s Iute Group, IuteBank has begun working as a regulated financial institution in Ukraine.
Lithuanian fintech PAYSTRAX introduced an main enlargement to its group, including as much as 150 new specialists.
Czech fintech Flowpay acquired Berlin, Germany-based SME financing agency Tapline.
Center East and Northern Africa
Israel-based fintech Datarails launched a brand new answer to assist corporations scale back contract and subscription waste.
Kaspersky and UAE fintech Codebase teamed as much as improve digital banking safety.
Moroccan fintech WafR secured $4 million in seed funding in a spherical co-led by LoftyInc Capital.
Photograph by Guillaume Jaillet on Unsplash
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