As one of the world’s largest financial technology hubs, Toronto is duly associated with Canadian fintech.
But other regions of the country have their own fintech fitness, such as Vancouver.
And Calgary is no exception. A recent report found the region to have Canada’s second-fastest growth rate for tech talent.
Below, Calgary.tech highlights a handful of Alberta fintechs making waves in 2023.
Calgary-grown financial technology firm Katipult catapulted into the limelight recently by clinching the prestigious “Workflow Tech of the Future” accolade at the Banking Tech USA Awards.
The award recognized Katipult’s role in transforming and digitizing capital markets, helping firms facilitate the creation, launch, and closing of private transactions.
At the heart of Katipult’s success lies their innovative DealFlow product: a platform that delivers efficiencies, cost savings, and enhanced customer experiences for investment dealers, wealth management firms, and banks. It’s a “smarter way to raise capital,” according to the company.
Operating at the forefront of the financial services industry, Katipult’s DealFlow offers a one-stop platform for alternative investments. The platform has been designed to streamline the process of buying and selling securities, with compliance workflows and eSignature technology embedded within the platform. This combination ensures transparent documentation and Know Your Customer checks.
The platform supports a range of investment vehicles, from Real Estate Investment Trust funds to Private Equity and Commercial Real Estate. DealFlow’s capabilities extend to both accredited and retail investors, delivering a frictionless user experience with smart forms for quick onboarding.
Founded by Brock Murray and Pheak Meas in 2015, Katipult is a public company listed on the Toronto Venture Exchange under the ticker symbol FUND.
Finofo is a Calgary-based financial technology startup that wants to reduce the headache and complexity around foreign exchange rates for cross-border businesses.
Finofo raised capital after being conceived from “firsthand encounters with the challenges businesses face in financial operations,” according to the founders. The Canadian fintech drew investment from Motivate Venture Capital, SaaS Venture Capital, Desjardins Financial Holding, Sweet Spot Capital, and angels.
Alongside the funding, Finofo has officially launched its platform, which enables businesses to send and receive money globally, convert currencies, and automate accounts payables.
The FX-oriented platform will continue to develop with new features following the pre-seed capital. Finofo wants to become a financial “super app” for business operations, according to cofounder Charles Maranda. His mission is to “build the only financial platform businesses should ever need.”
“Business finance teams currently have to piece meal a solution for their diverse needs,” he laments. “Our goal is to exponentially improve how finance teams transact, plan, and strategize their financial operations by offering a unified and integrated platform.”
In the world of academia, students face a multitude of challenges. One often-overlooked challenge of uni life is the struggle to find suitable and affordable off-campus housing solution.
Three determined University of Alberta students—Kevin Mpunga, Jean Bruce Koua, and Kwasi Boateng—recognized this predicament and decided to create Elev, a digital platform designed to turn a difficult task into a seamless experience. The entrepreneurs are united in their mission to ensure students found their ideal “Home away from Home,” striving to improve the way students navigate their housing journey.
Elev provides a blend of features that makes the process of finding the right off-campus housing easy and efficient. For example, whether the student is looking for an apartment that allows pets or needs a place with a garage, Elev has a customizable search option to match preferences. And in addition, the platform ensures automatic payments through Stripe integration. Other built-in features and services, such as booking viewings and signing leases, all happen within the app, saving students time and money.
For hosts, Elev has a comprehensive suite of features, from listing and showcasing properties to scheduling viewings, managing tenant applications, creating and signing leases, and even handling maintenance issues. Built-in messaging allows for communication between hosts and tenants.
Fintech Award + Fillip & Woveo
The award application, initially open only to Calgary-based fintech startups or those looking to expand into the city, was this year broadened to include all Canada-based fintech companies without a requirement to relocate or be based in Calgary.
The award competition selects a total of 25 startups to participate in a rigorous 6-week program featuring interactive workshops, leadership panel discussions, coaching, mentorship from industry experts, and networking opportunities.
The winners will be unveiled during an Award Gala scheduled for October 2023 in Calgary, Alberta.
Neo, Helcim, and More
These companies and so many more hustle hard to anchor and grow and the region’s financial technology sector.
“Calgary was named one of the top Fintech ecosystems in North America in 2022,” pointed out Terry Rock, chief executive of Platform Calgary, in May.
There has “never been a more exciting time to be in tech in Alberta than today,” Nate Glubish, the Minister of Technology and Innovation for Alberta, stated recently.
With more tech companies and workers than ever before, and the traditional finance sector still ripe for technological disruption, Calgary’s fintech ecosystem is expected to continue on a trajectory of growth.