There is a new financial technology fund in Canada.
Impression Ventures recently raised $64 million to launch Impression IV, the Canadian venture capital firm’s fourth fintech fund. Supported by both Bank of Montreal and CIBC, the Toronto- and Montreal-based Impression says that IV will invest “in seed-stage firms in the US and Canada that are leveraging technology to disrupt and enhance the delivery of financial products and services.”
Fintech investments will span all sectors of financial services including wealth management, credit and lending, retail banking, capital markets, insurance, regulatory technology, and payments, according to Impression.
The firm boasts a dedicated team which includes expertise in deep technology and financial services, which Impression believes uniquely positions the firm “to support its fintech-focused portfolio companies in their growth and development.”
Impression is co-managed by entrepreneurs Christian Lassonde and Maor Amar.
“We believe that if we want to build global champions there is going to have to be a lot of hard work in the ecosystem,” Amar told BetaKit in April. “And we’ve accepted that at the seed stage, founders are looking for partners that are not just capital partners, but also business partners that help them navigate the challenges of a startup.”