Communitech this month unveiled the first ever Team True North.
The Kitchener-based hub for entrepreneurship created the list to spotlight “the best of Canadian tech”—which by their measure is defined as high-performing tech firms “tracking to $1 billion in annual revenue with growth rates that match the top 1% of companies in the world.”
“Why did we form Team True North? Because it is Canada’s time,” the company believes. “This is the best place on the planet to work in tech, invest in tech and build amazing things.”
The list was determined through data from Silicon Valley Bank using a model developed by New York data science firm Two Sigma designed to assess company potential.
There are five financial technology firms on the list, all from Ontario, a global fintech hub. They are:
- Toronto’s ClearCo provides equity-free capital solutions to e-commerce businesses. ClearCo raised a big round of funding last year.
- Toronto’s Flexiti Financial provides flexible financing at point-of-sale to help customers finance purchases through instant approvals. Flexiti was last year ranked The Globe and Mail’s top fintech startup to watch.
- London’s Paystone provides integrated payment processing, customer loyalty programs, and reputation marketing software. The company has made several acquisitions of Canadian startups.
- Toronto’s FreshBooks has helped transform the field of business accounting through automated cloud software. With a staff of nearly 400 FreshBooks was recently named one of the best Canadian fintech employers.
- Toronto’s Ledn provides financial products for digital assets to help customers build wealth for the long term. The cryptocurrency lending platform raised $30 million last year.
Through Team True North, Communitech says it will continue to support these companies with access to talent, customers, and capital.