Canadian Fintech Sector Overshadows its US Counterpart in 2016
Investments received by Canadian fintech firms in the year of 2016 has surpassed that of the United States, United Kingdom, and Singapore. Canada is surpassing the United States in the fintech sector. The changing status quo is quite evident from the scale of investments received by Canadian fintech startups compared to their counterparts in the United States. It is reported that the Canadian fintech sector in 2016 received the highest amount of venture capital backed funds since the past two decades. The funds raised by Canadian blockchain and fintech companies is said to have increased....
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U.K. FinTech startups raised $173 million across 16 deals in Q4 2016, an increase of $95 million from Q3, according to a report from CB Insights. The report, The Global FinTech Report Full Year 2016, from the company which tracks venture capital investment, looked at FinTech venture capital across markets in Europe, Asia and North America. The results found that investment within financial technology firms had risen by 122 percent between October and December 2016 with the number of deals taking place increasing by 33 percent. Despite an increase in U.K. financial technology investment....
Investment in Chinese FinTech continued at a pace in 2016 despite markets in other countries experiencing a slowdown in the sector. It’s reported that during the first nine months of 2016, FinTech investments doubled in China, which was partly due to funding rounds completed by Ant Financial, JD Finance and China’s Lufax, reports the China Money Network. The report states that in the first three-quarters of 2016, global financial technology investments accounted for US$18 billion, just down from the US$19 billion that was invested in the previous year. According to a report by City Asia....
The emerging fintech and cryptocurrency industry in Asia received a major portion of total VC funds during the thrid quarter of 2016. Asia is an emerging economic power, thanks to the growth of some of the major countries in the continent. Staying true to its economic progress, the continent is also turning out to be an attractive market for the fintech industry. According to a recent report published by KPMG – one of the “big four” audit firms in the world, the Asian continent was the largest recipient of venture capital in the fintech and cryptocurrency technology sector during the third....
A new report by Innovate Finance and Pitchbook has found that investment in FinTech in the U.K. fell in 2016 to 33.7 percent while China and the U.S. dominated the sector. According to the report, The 2016 VC FinTech Investment Landscape [PDF], which was published this month, the U.K. received VC funding amounting to $783 million in 2016 compared to the $1.2 billion in 2015. This was largely attributed to the uncertainty circulating Brexit as well as geo political and macro-economic factors. While total deals post-Brexit amounted to $368 million in 2016, year on year investment decreased....
Canada’s central bank, the Bank of Canada, and five other Canadian banks (like a growing number of banks around the world) are experimenting with blockchain technology and a possible digital dollar as the growing demand for digital fintech payment systems puts the squeeze on the traditional banking sector. At a recent IMF/World Bank conference hosted by the U.S. Federal Reserve, an estimated 90 central banks, including the Bank of Canada, came forward to talk about their research into and experiments with distributed ledger technology (DLT), the blockchain and digital currencies. The big....