Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
Fintech is not just an emerging domain, it’s a revolution. It’s changing the way we have been dealing with our assets. While changing the global landscape, it also brings convenience to people’s lives. With fintech-based solutions, individuals and businesses are becoming more efficient. The result of all these merits reflects in the stock prices of fintech companies. In recent years, Canada has emerged as a hub of such enterprises.
These enterprises have proven their worth by bringing forth innovative applications. Through their pioneering solutions, these Canadian firms have established themselves. By investing in them, market participants secure limitless growth and profits.
Canadian Fintech Stocks That Investors Must Know About
The following companies performed well on all fronts. They’ve emerged as a promising stock option for investors.
1. KOHO Financial
KOHO was founded by renowned leaders in the finance industry. Mike Benna, Jonathan Bixby, and Daniel Eberhard laid its foundation in 2014. It received a whopping $50 Million in its funding round. The company aims to simplify financial products with an application-based banking platform. It enables banks to manage cash flow, categorizations, and manage goals. Furthermore, it issues premium cards to users.
2. Borrowell
Andrew Graham and Eva Wong established Borrowell with an amassed capital of $72.2 in 2014. Companies like Silicon Valley Bank, Freycinet Ventures, DMZ, Portag3 Ventures, RFI, Hedgewood, Clocktower Technology Ventures, GAingels, and some other investors invested in it. Borrowell bridged the gap between lenders and borrowers. It brought financial stability and enabled users to maintain a healthy credit score.
3. Neo Financial
Andrew Chau and Kris Read founded it in 2019. Backed by Valar Ventures, Thomvest Ventures, Inovia Capital, and FJ Labs, the company raised CA$ 50M. It provides savings, spending, and reward programs to improve the financial experience. Neo also collaborated with leading financial institutions to improve their services. It provides CDID deposit protection along with a credit card supported by the Mastercard network.
4. Hardbacon
Julien Brault co-founded this with the aim to consolidate all the tools. Founded in 2017, the company helps users make financial decisions. It provides insights about the markets and lets people understand their impact. The application ties up with investment accounts, credit cards, and bank accounts. It also assists users in planning and budgeting while tracking data on stock markets, ETFs, stocks, and mutual funds.
5. FundThrough
FundThrough helps small enterprises overcome cash flow challenges. It solves these problems by offering loans and generating revenue by collecting fees. With this feasible stopgap solution, it helps a large number of enterprises in many domains. Moreover, it does not bind them with long-term commitments. Most businesses that have worked with FundThrough flourished in their operations.
Conclusion
Canadian fintech stocks can pave the way for endless profits. They don’t just beef up the portfolio, they raise its overall value. By adding them to their holdings, investors seize some great opportunities. Besides profits, they also get sustenance and support. Financial technology gives them some exclusive benefits. It lets the investor set new benchmarks for gaining stupendous returns.
Source: https://www.thecoinrepublic.com/2023/08/10/top-5-fintech-stocks-in-canada-that-will-yield-profits-in-2023/