Toronto-based FinanceIt, a leading point-of-sale financing provider, will be broadening their service offering with a recent closing of investment round by Goldman Sachs (one of their existing shareholders). The company has a strong track record of success (over 7000 merchant partners, and processed over $1.9 billion USD in loan applications) and there are no plans of slowing down in 2018 with their strong shareholder support and innovative team.
Bonus: Check out FinanceIt’s Director of Finance talking about start-up life here.
Vancouver’s Bench Accounting, a start-up that helps small to medium-sized businesses with all of their accounting operations, saw its revenue increase 12,814% – or 128 times – over the past four years. This makes it the tech company with the fourth highest growth in Canada, according to Deloitte Technology’s Fast 50.
League had an incredible 2017. As one of the best Canadian fintech success stories around, League continues to revolutionize the employee benefits game. After raising one of the largest Series A venture capital funding rounds in Canadian tech history ($33-million investment lead by OMERS Ventures in 2017), and expanding into the U.S., League is on top of it’s game.
Overbond was featured on our last fintech list, and their recent announced expanding presence in the US brought it back on our radar for a second time. The company, which gives investment banks and institutional investors access to the primary fixed income market, is looking to extend their functionality through desktop and mobile applications for all operating systems. Overbond’s growth will be exciting to watch in 2018.
5HIVE and other Cryptocurrency-oriented companies
The final months of 2017 saw the rise of cryptocurrency and the blockchain, and HIVE is one of the Canadian start-ups leading the charge. In December they announced a plan to raise as much as $100 million to buy more digital currency mining hardware. There are countless smaller start-ups emerging tackling similar feats. However, it’s been well predicted that the cryptocurrency bubble is just waiting to burst open (although no one has an idea of when). The journeys of cryptocurrency and blockchain-centric companies will be one of the most fascinating fintech stories of 2018, either for good or bad.