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Five Fintech Firms Hiring Canadian Tech Talent Today

August 23, 2022 by Knowlton Thomas Leave a Comment

The past several years have been good to the global startup economy. 2021 set many records for startup financing in Canada.

The year included many sizeable FinTech rounds, such as $61 million for Propel Holdings; $64 million for Neo Financial; $44 million for Properly; $72 million for Bench; and nearly $300 million for Fraction Technologies in Vancouver.

Now a different picture is being painted, especially as we move into the second half of the year. In the middle of 2022, the bigger news became layoffs, with Canadian tech darlings having to trim some of their fat. Some, like Thinkific, were hit particularly hard, laying off up to 20% of their total workforce. Even Shopify took a major hit.

Not every company is in the same situation. While some have entered survival mode, others are doing fine—quite well, actually.

Let’s take a look at some actively hiring tech fintech companies in Canada.

Wealthsimple

Despite laying off 13% of their staff earlier this year due to market volatility, the well-funded Toronto-born unicorn is still hiring. The company, known for its all-in-one fintech super-app, offers a flexible remote work policy.

“As long as you have internet access, you can work from anywhere in Canada,” the company states, with full-time employees allowed to work internationally for up to 90 days per year. “Choose your working style: remote, in-office, or a mix of both.”

Wealthsimple offers an in-depth Culture Manual, which explains what the company does and why, to cultivate cohesion among a distributed workforce.

Rocket Mortgage

A US-based mortgage Goliath entered the Canadian market this year via an Ontario upstart—and it’s hiring. Rocket Mortgage subsidiary Edison Financial, based in Windsor, is now Rocket Mortgage in Canada.

“Our mission when we launched over two years ago was to use technology to improve the mortgage experience in Canada, making life easier for homebuyers and homeowners,” stated Hash Aboulhosn, president of Rocket Mortgage in Canada.

Rocket’s expansion comes amid a potential slowdown in Canada’s housing market. It previously acquired Lendesk, a Canadian fintech company.

Shakepay

Montreal’s Shakepay is a leading Canadian bitcoin technology company enabling customers to buy and earn bitcoin through financial applications. Earlier this year Shakepay secured a $44 million Series A investment round.

The world’s fiat monetary system incentivizes us to borrow and spend for today, rather than saving for the future. Bitcoin is a return to a proper savings account. Its limited supply allows us to save and build wealth, enabling us to build and think further into the future, Shakepay says.

Employees of Shakepay enjoy remote work flexibility, mandatory vacation time, and can choose to take a percentage of their salary in Bitcoin.

Financeit

Financeit is Canada’s leading point-of-sale financing provider for the home improvement industry and powers sales transactions for merchants in home services, recreational vehicle, and retail with technology-driven customer payment plans.

In 2021, Financeit added over 1,100 new merchant partners, processed over 115,000 loan applications, and funded a record $534 million in loan originations. The company is hiring and promises benefits beyond “just the basics,” including a lifestyle spending account to help cover the tab for healthy pursuits like yoga.

“Even with our incredible growth to date, management fundamentally believes that our greatest growth is still in front of us,” stated Financeit CEO Michael Garrity earlier this year. “We will strengthen our position as the leading provider of point-of-sale consumer credit, while also expanding our range of products and adding new industry verticals to our point-of-sale channel.”

Neo Financial

Actively hiring Canadian digital bank Neo Financial raised a $185 million Series C round led by Valar Ventures earlier this year, which brought Neo’s total funding to $299 million since its 2019 inception and valued the company at over $1 billion, making Neo one of the fastest Canadian companies to reach the coveted ‘unicorn’ status.

Neo Financial offers a variety of products to its customers, including cash-back rewards and savings. It expanded into investing in April with a private wealth management product, and plans a mortgage offering for later this year as part of its effort to be a “one-stop shop for all financial services for Canadians and retailers.”

“We started Neo to take on a massive challenge—to reimagine financial services for all Canadians. In an industry where the incumbents make up 90%+ of the market, we’ve been able to rapidly earn the trust of over one million Canadians and 7,000 retailers across the country,” wrote co-founder Andrew Chau on LinkedIn.

Filed Under: News Tagged With: FinanceIt, Neo Financial, Rocket Mortgage, Shakepay, Wealthsimple

Goldman Sachs Sells Toronto Fintech Financeit To Wealth Fund For $350+ Million

February 11, 2022 by Fintech Newsdesk Leave a Comment

Wafra Capital Partners (WCP) has acquired Toronto-based Financeit from Goldman Sachs Asset Management.

Financeit is Canada’s leading point-of-sale financing provider for the home improvement industry and powers sales transactions for merchants in home services, recreational vehicle, and retail with technology-driven customer payment plans. [Read more…] about Goldman Sachs Sells Toronto Fintech Financeit To Wealth Fund For $350+ Million

Filed Under: News Tagged With: FinanceIt

Canada’s Role In The International Fintech Community Is Dependent On The Friends We Make Here At Home

October 20, 2021 by Michael Garrity Leave a Comment

It’s been over a year and a half since COVID-19 first emerged, disrupting everything in its path in one way or another. While all industries were forced to shift aspects of their business model, few were hit as drastically as those within fintech. [Read more…] about Canada’s Role In The International Fintech Community Is Dependent On The Friends We Make Here At Home

Filed Under: Thought Leaders Tagged With: FinanceIt

10 High-Growth Canadian Fintech Companies To Watch

September 28, 2021 by Fintech Newsdesk Leave a Comment

The Globe and Mail has published their third annual ranking of Canada’s Top Growing Companies and the list of 448 businesses sprawl across sectors, from fashion to finance, and manufacture everything from medical testing devices to organic pasta. [Read more…] about 10 High-Growth Canadian Fintech Companies To Watch

Filed Under: News Tagged With: Beanworks, Borrowell, Canalyst, FinanceIt, Flexiti, Fundthrough, Lightspeed, Paystone, Sensibill, Zensurance

Financeit Reaches New Milestone With $2 Billion In Loans

June 23, 2021 by Fintech Newsdesk Leave a Comment

Toronto’s Financeit, Canada’s leading point-of-sale financing provider in the home improvement sector, has reached another funding milestone as they have officially exceeded $2 billion in loan originations. [Read more…] about Financeit Reaches New Milestone With $2 Billion In Loans

Filed Under: News Tagged With: FinanceIt

Buy-now-pay-later Leader Financeit Strikes $500 Millon Partnership With RBC

March 20, 2021 by Fintech Newsdesk Leave a Comment

Financeit has entered into a new strategic consumer lending agreement with the Royal Bank of Canada (RBC) to solidify its position as Canada’s leading point-of-sale financing provider. [Read more…] about Buy-now-pay-later Leader Financeit Strikes $500 Millon Partnership With RBC

Filed Under: News Tagged With: FinanceIt, RBC

Meet Your Favourite Fintechs at Startup Open House

September 10, 2018 by Fintech Newsdesk Leave a Comment

Startup Open House returns later this month for its 6th time and promises to be the biggest tech community event in Canada. [Read more…] about Meet Your Favourite Fintechs at Startup Open House

Filed Under: News Tagged With: Beanworks, Bench, Borrowell, Clearbanc, FinanceIt, Flinks, Holt Accelerator, Mobeewave, Mogo, Nest Wealth, Ophelia, Planswell, Procurify, Savvyy, Sensibill, Street Contxt, Upgrade, Wealthsimple

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