Canadian AI search tool Coveo raises $172m to hit unicorn status
Coveo is now “well above” US $1 billion in valuation.
Canada
Desjardins Group data breach affected all 4.2 million members
Internal leak forced change in government policy.
National Bank of Canada launches Innovation Competition
NBC invites start-ups, developers and students to participate.
Luge Capital raises $85m to invest in Canada’s start-ups
Investments will range from $150,000 to $2 million.
National Bank of Canada goes live with Murex’s MX.3 Risk and Regulatory Suite
Bank aims to meet future FRTB obligations.
DUCA Financial Services Credit Union picks Fiserv DNA as new core system
Celero will be providing implementation support.
Revolut reveals new agreement with Visa, set to hire 3,500
Revolut is eyeing up several new markets in 2019 and 2020
National Bank of Canada chooses CGI’s All Payments platform
The bank is modernising its payments ecosystem.
Insurtech Cover Genius forms ‘first of a kind’ partnership with ShipStation
The partnership will effect UK, Canadian and Australian merchant customers.
Barclays and JP Morgan Chase invest in TouchBistro
TouchBistro leads “a technology renaissance” for restaurants.
Trulioo raises $70m with Goldman Sachs, Citi and Santander
Another CAD 10m was raised in a separate round.
Element AI raises CAD 200m in Series B funding round
Element AI has raised CAD 340 million in total so far.
Fintech start-up PayBright raises $34m from goeasy
Leading the round was Canadian Business Growth Fund.
How Laybuy seeks to attract global Gen Z market
Laybuy asks for no interest and brands itself as “ethical”.
Student lender MPOWER secures $100m from Goldman Sachs
Goldman Sach’s total loan financing capital for MPOWER is $200 million.
Alterna Bank partners with nCino
The agreement marks nCino’s first Canadian credit union customer
Lending platform SellersFunding expands to UK and Canada
The platform offers pre-approved funding for online sellers.
Monarch creates first recurring crypto payments system
The solution will enable the likes of Netflix and Hulu to accept crypto.
JP Morgan Chase invests in accounting software platform FreshBooks
A JPMC representative will be joining FreshBooks’ board.
RBC launches student experience on mobile app
The ‘Mobile Student Edition’ is designed to tap into the Gen Z market
InComm makes third-acquisition this year with purchase of Meridian Loyalty
The amount of the acquisition was undisclosed.
JCB and Interac Corp agree Canadian ATM deal
JCB cardholders can withdraw cash at machines throughout Canada.
Visa and PayPal’s new deal
While the US service is powered via a partnership with JPMorgan Chase, PayPal’s Instant Transfer in Canada is powered by Visa’s push payments system, Visa Direct.
Manulife Bank deploys Kasisto’s AI chatbot
Talk with a robot for all your banking needs.
Desjardins announces internal security breach
The personal information of 2.9 million members was disclosed.
Canada’s Stack teams up with Payment Source
The partnership aims to target millennials.
CGI makes £78.9m all-cash offer for SCISYS
The deal would expand CGI’s reach in European space and defence markets.
Challenger banks in Canada: who’s who and what’s their tech
A comprehensive list of challenger banks and banking services in Canada and the tech they are using.
H&R Block acquires Wave Financial for $398m
It follows Wave’s recent acquisition of Every.
Bank Leumi, CIBC and NAB launch online portal for fintechs
The platform provides a simple and easy process for fintechs to help connect them into the bank.
Purpose extends digital portfolio by acquiring CreditGenie
Toronto-based CreditGenie aims to disrupt point-of-sale financing.
Case study: ATB Brightside – shining a light on digital banking
All about the new challenger bank in Canada and its tech.
Digital investing service Wealthsimple raises $100m
Allianz X led the investment round.
Meridian CU first in Canada to take MX Pulse financial wellness tool
If you’re going to bring your new, self-guided financial wellness tool to Canada, you might as well start big.
KOHO closes $42m for alternative fintech
Led by Portag3, who supported its Series A.
Canadian CIBC launches platform for SMEs
It allows users to manage accounting and payroll insights.
IBM chosen to support Canada’s RTGS platform
Lynx is part of Payments Canada’s multi-year modernisation initiative.
Three Canadian credit unions take Fiserv DNA
These are Carpathia Credit Union, Estonian Credit Union and Parama Credit Union.
Blockchain-based ID verification system goes live in Canada
SecureKey’s Verified.Me is backed by several major financial institutions.
RBC adds budgeting tool to mobile app
It tracks and budgets expenses in five areas.
