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KPMG Report: Canadian Fintech Investment Slumps as Macro Worries Weigh

August 17, 2023 by Newsdesk

Canadian fintech investment has declined threefold in H1 2023, mirroring a slide in valuations not seen since COVID-19’s onset.

KPMG Canada reveals a drop in investment to $353.7 million across 57 deals, down from $1.09 billion across 87 deals in H2 2022 and $834.1 million across 109 deals in H1 2022.

Macro concerns drive the decline, affecting valuations and geopolitical confidence. Venture capital investments sank to early pandemic levels, with early and seed-round deals indicating support for innovative startups at reasonable valuations.

While challenges persist, positive signs for Canada’s fintech ecosystem remain in young companies securing early financing.

Want to know more? Check out the source code on Fintech.ca.

Filed Under: News Tagged With: KPMG

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