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Home»Fintech»Canadian fintech investment plummets
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Canadian fintech investment plummets

September 8, 2022No Comments2 Mins Read
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After a record-breaking yr in 2021, funding in Canadian fintech dropped by greater than 50% within the first six months of 2022, in keeping with a KPMG report.

Canadian fintech corporations noticed US$810 million in whole funding throughout 85 offers within the first half of 2022, down from US$1.9 billion within the second half of 2021.

The drop from the primary half of 2021 was much more marked, though that interval was an outlier, seeing a bumper US$5.4 billion in funding throughout 108 offers.

Nearly all of fintech funding in Canada within the first half of the yr got here from enterprise capital. Damaged down by deal kind, 25 have been seed spherical investments, 23 have been early-stage and 17 have been later-stage funding rounds.

Regardless of a downturn within the crypto house, 29 of the 85 offers concerned companies on this sector, with eight offers for funds corporations and eight offers for regtech gamers.

Geoff Rush, nationwide trade chief, monetary providers, KPMG in Canada, says: “The market downturn and ensuing decrease tech valuations brought about buyers to hit the ‘pause button’ over the previous few months, however with a lot funding flowing into fintech final yr, we see it as a re-balancing of expectations, or a sector reset if you’ll.

“We count on fintech to proceed to attract curiosity within the second half of the yr, however buyers can be extra selective about the place they deploy capital.”

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Canadian Fintech Investment plummets
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