Canada’s financial technology sector attracted US$2.4 billion across 113 deals in 2025, PitchBook data shows, down from 2024’s record but buoyed by major transactions including Converge Technology Solutions’ US$898-million buyout, Wealthsimple’s US$536-million raise and Ripple’s US$200-million acquisition of Rail.
KPMG partner Dubie Cunningham said investors now favour mature firms with scalable platforms and customer traction, a trend expected to continue through 2026 as challenger banks expand and open banking launches. AI fintechs led activity with 29 deals, ahead of crypto and blockchain at 26. Kareem Sadek said clearer rules for stablecoins and governance will boost confidence in digital assets and automation-driven services.
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