Fintech Companies in Canada 2026

For decades, Canadian banking meant five major banks, set branch hours and monthly service charges.

That has all started to change. As of June 30, 2026, Wealthsimple was managing about C$155.6 billion in client assets, a jump of 84% in a single year. KOHO reached unicorn status in June, and Float, Helcim and Neo all raised fresh funds in 2026.

Customers are driving this shift. Millions of Canadians now use fintech apps to invest, save, borrow and get paid, and thousands of small businesses rely on Canadian-built platforms for their cards, payments and bookkeeping.

So which companies should you know about? This guide looks at the top 10 fintech companies in Canada for 2026, chosen on scale, growth, product depth and verified 2026 results rather than hype.

Why Canadian Consumers and Businesses Are Turning to Fintech

Lower Fees and Better Rates

By cutting the price of financial products, many fintech companies in Canada have put real pressure on the cost of banking. Commission-free trading, chequing with no monthly fee and interchange-plus card pricing all undercut what Canadians were used to paying.

Faster, Simpler Products

You can now open an account, issue corporate cards or accept card payments in minutes, all from a phone. For small businesses, not having to wait weeks for a bank to process a basic request is a real advantage.

Access for Underserved Groups

Maybe you’re trying to build your credit score, you’re new to Canada or you’re just starting out as a business owner. Traditional banks often haven’t done much for you. Credit-building tools, prepaid cards and online lending give these groups a way in.

Data and AI Built In

Because these companies were built on cloud technology, they can offer stronger software features, from real-time spending data to automated bookkeeping and AI-driven fraud detection. In 2026, Float, Helcim and FreshBooks all rolled out new AI features.

Top 10 Fintech Companies in Canada at a Glance

Top 10 Fintech Companies in Canada (2026)

Below is a look at how the leading fintech companies in Canada stack up on scale, products and 2026 momentum.

1. Wealthsimple

Founded in Toronto in 2014, Wealthsimple started as a robo-advisor under co-founder and CEO Mike Katchen. Today it offers investing, crypto, chequing, credit cards and tax filing, and it says it serves more than four million Canadians. In October 2025 it announced a C$750 million equity round at a C$10 billion post-money valuation, co-led by Dragoneer Investment Group and GIC.

Wealthsimple has seen massive growth in 2026. It ended Q2 with about C$155.6 billion in assets under administration, an increase of 84.1% from a year earlier, and took in roughly C$17 billion in net inflows during the quarter. For the first time, it opened more new chequing accounts than investment accounts. It also launched IPO Access in May, added Business Chequing and was ranked the top Canadian brokerage for customer satisfaction by J.D. Power for the third year in a row.

Key Fintech Solutions

✔ Commission-free trading, managed portfolios and crypto
✔ Registered accounts including TFSA, RRSP and RESP
✔ Chequing, credit card and Business Chequing
✔ Wealthsimple Tax and IPO Access

Best for: Canadians who want investing, banking and tax filing in one low-fee app.

2. Nuvei

Nuvei was founded in 2003 by Philip Fayer and is based in Montreal. It lets merchants accept card payments and alternative payment methods, offers digital wallet solutions and handles stablecoin payouts. Advent International took the company private in a deal worth about US$6.3 billion that closed in November 2024, alongside Fayer, Novacap and CDPQ.

Going private hasn’t slowed Nuvei down. In June 2026 it agreed to buy Payoneer for about US$2.75 billion in cash, with closing expected in mid-2027. In April 2026 it launched direct card acquiring in Mexico, and it began processing payments for MediaMarktSaturn’s European marketplace. It also operates as a direct acquirer in Canada. In September 2026, the U.S. Federal Trade Commission filed a complaint over how its U.S. operations screened merchants, with a proposed order requiring US$4.85 million in consumer redress.

Key Fintech Solutions

✔ Global card acquiring and alternative payments
✔ Digital wallets, recurring billing and payouts
✔ Stablecoin settlement under an EU MiCA licence
✔ Risk and fraud management tools

Best for: Enterprise and high-growth merchants selling across borders.

3. KOHO

KOHO started in Vancouver in 2014 and moved its headquarters to Toronto in 2017. Founder and CEO Daniel Eberhard built it around a prepaid Mastercard spending and savings account with cashback, and it now has more than 2.5 million customers across Canada. KOHO also offers credit-building tools, Cover overdraft protection, RoundUps, international money transfers and, more recently, crypto.

KOHO became a unicorn in June 2026, raising C$130 million at a C$1.33 billion valuation. Mubadala, Savano Capital, Shopify CEO Tobi Lütke and Affirm COO Michael Linford joined as new investors, while existing backers such as Portage Ventures, Drive Capital, BDC Capital and HOOPP also took part. KOHO has now raised C$507 million in total. The round gives it the initial capital base for a federal bank licence, which still needs ministerial approval.

Key Fintech Solutions

✔ Spending and savings account with prepaid Mastercard
✔ Credit building and Cover overdraft protection
✔ RoundUps and cashback
✔ International transfers and crypto

Best for: Everyday Canadians who want low-fee banking and help building credit.

4. EQ Bank

EQ Bank is the branchless digital bank of Equitable Bank, which its parent EQB describes as Canada’s seventh largest bank by assets. Based in Toronto, EQ Bank offers everyday banking and savings with no monthly fee, and its deposits are CDIC-insured through Equitable Bank.

EQ Bank had 659,000 customers at the end of Q2 2026, an 18% increase from a year earlier, along with C$10.02 billion in deposits. EQB closed its purchase of PC Financial from Loblaw on July 1, 2026, for C$234.5 million in cash plus 7.2 million EQB shares. PC Bank is now a subsidiary of Equitable Bank, EQB is the exclusive financial services partner for PC Optimum, and the enlarged group serves nearly 4 million Canadians.

Key Fintech Solutions

✔ No-monthly-fee everyday banking and savings
✔ CDIC-insured deposits through Equitable Bank
✔ Branchless, app-first account opening
✔ Backed by Equitable Bank’s wider lending business

Best for: Savers who want a no-monthly-fee, CDIC-insured account without a branch.

5. Float

Float is a Toronto-based business finance company led by co-founder and CEO Rob Khazzam. It started with corporate cards and now offers a much wider set of products: corporate cards in CAD and USD, expense management, high-yield business accounts, next-day bill pay, working capital credit and cross-border payments.

In June 2026, Float raised a C$85 million all-equity Series C led by Inovia Capital, with Goldman Sachs Alternatives, BDC Capital and Northleaf also investing, at a valuation up 70%. It has raised about C$300 million since inception. More than 7,500 Canadian businesses now use Float, double the count at its Series B, and revenue has grown more than 120% over the same period. Customers include Cohere, Knix and Jane, and the Globe and Mail named it the fastest-growing fintech in Canada on its Top Growing Companies list.

Key Fintech Solutions

✔ Corporate cards in CAD and USD
✔ Automated expense management and bill pay
✔ High-yield business accounts and working capital
✔ Float Intelligence AI for finance workflows

Best for: Canadian startups and mid-sized companies replacing bank cards and manual expense reports.

6. Nasdaq Verafin

Verafin was founded in 2003 in St. John’s, Newfoundland and Labrador, by Jamie King, Brendan Brothers and Raymond Pretty. It provides cloud-based fraud prevention and anti-money-laundering software to banks and credit unions. In December 2019 it raised C$515 million, then the largest venture deal in Canadian history, and Nasdaq acquired it for US$2.75 billion in a deal that closed in February 2021.

Verafin is still based in St. John’s under the Nasdaq umbrella. Its platform is now used by more than 2,750 financial institutions with combined assets of over US$11 trillion. In March 2026, Nasdaq Verafin released a global financial crime report estimating US$4.4 trillion in illicit financial activity in 2025.

Key Fintech Solutions

✔ Fraud detection and payment fraud prevention
✔ AML and counter-terrorist-financing compliance
✔ Cloud-based financial crime management
✔ Built for small and mid-sized institutions

Best for: Banks and credit unions that need stronger fraud and AML controls.

7. Helcim

Helcim is a Calgary-based payments company founded in 2006 by its CEO, Nic Beique. It serves small and mid-sized merchants with in-person and online payments, smart terminals, invoicing and online checkout, all at transparent interchange-plus rates with volume discounts.

In August 2026, Helcim raised a C$53 million Series C led by BDC Capital’s Growth Venture Fund. That valued the company at C$250 million, up from C$97 million at its 2024 Series B. It now has more than 22,000 active merchants across Canada and the U.S., annual recurring revenue above C$150 million and is on pace to process nearly C$10 billion in yearly payment volume. In January 2026 it launched an AI-powered Payment Extension that lets merchants add Helcim to software they already use.

Key Fintech Solutions

✔ Interchange-plus card processing
✔ Point-of-sale terminals and online checkout
✔ Invoicing and recurring billing
✔ AI-powered Payment Extension for embedded payments

Best for: Small businesses that want clear, low processing fees without long contracts.

8. Neo Financial

Neo Financial was founded in Calgary in 2019 by Andrew Chau, Jeff Adamson and Kris Read, the team behind SkipTheDishes. It offers cashback Mastercard credit cards, including the Hudson’s Bay Mastercard, along with a high-interest savings account, ETF investing and digital mortgages. Its deposit accounts are provided by Peoples Bank of Canada, a CDIC member, and Neo has more than one million customers and over 10,000 partner merchants.

Neo’s funding has had its ups and downs. Its 2024 Series D, led by Tencent, came in well below its earlier unicorn valuation. In February 2026, it closed a C$68.5 million Series D2 at a higher valuation, backed by more than 100 Canadian investors, including Alberta Investment Management Corporation and Northleaf Capital Partners.

Key Fintech Solutions

✔ Cashback and secured Mastercard credit cards
✔ High-interest savings account
✔ Neo Invest ETF portfolios
✔ Digital mortgages

Best for: Canadians who want rewards cards and digital-first borrowing.

9. Propel Holdings

Propel Holdings is a Toronto-headquartered, TSX-listed online lender that uses AI-powered underwriting to serve consumers who are underserved by traditional banks. Its brands include MoneyKey, CreditFresh, Fora Credit and QuidMarket, and it also operates Propel Bank and a Lending-as-a-Service business for bank partners. Propel reports in U.S. dollars, since much of its lending is in the U.S. and the UK.

Propel posted record numbers in Q2 2026, with revenue of US$179.6 million, up 26%, adjusted net income of US$24.8 million, up 29%, and record originations of US$243.4 million. Its UK unit grew revenue by 53%, and Lending-as-a-Service revenue rose 150%. The board raised the quarterly dividend to C$0.255 a share, its twelfth consecutive increase.

Key Fintech Solutions

✔ AI-driven credit underwriting
✔ Consumer credit through MoneyKey, CreditFresh and Fora Credit
✔ Lending-as-a-Service for bank partners
✔ Propel Bank operations for U.S. lending

Best for: Investors watching profitable Canadian fintech, and banks looking for an AI lending partner.

10. FreshBooks

FreshBooks is a Toronto-based cloud accounting company co-founded by Mike McDerment, Levi Cooperman and Joe Sawada. It began with online invoicing for small business owners and now covers expenses, time tracking, payments, double-entry accounting, payroll integrations and project tools. It says more than 500,000 small businesses have used FreshBooks, with users in over 160 countries. Don Epperson has been CEO since 2021, and the company’s 2021 funding round valued it above US$1 billion.

FreshBooks has signed a string of partnerships. It expanded its lending in April 2026, teamed up with Ownr in June to help Canadian entrepreneurs start and run their businesses, and partnered with Bluevine and Grasshopper in the U.S. Late in 2025 it added Affirm buy-now-pay-later options for its small business customers. In September 2026 it announced AI options for solopreneurs that connect to Anthropic’s Model Context Protocol.

Key Fintech Solutions

✔ Invoicing and online payments
✔ Expense and time tracking
✔ Double-entry accounting and reports
✔ Small business lending and AI tools

Best for: Freelancers, solopreneurs and service businesses that bill clients.

Also read: Interior Designing Companies in Canada

How to Choose the Right Fintech Partner in Canada

Check Regulation and Deposit Protection

Find out who is actually holding your money. Some fintech companies in Canada are banks, while others work through partner institutions or prepaid card programs, so check whether CDIC coverage applies and through which member.

Compare the Full Cost

Look past the headline rate. Monthly plans, foreign exchange markups, processing fees and early-exit charges can change the real cost, especially for payments and lending products.

Match the Product to Your Stage

A freelancer doesn’t need the same tools as a company with 200 employees. Pick a platform built for your size, and make sure it can grow with you before you migrate your data.

Look at Integrations

Look for fintech tools that connect with your current accounting, payroll and e-commerce systems.

Review Security and Support

Ask about fraud monitoring, two-factor sign-in and how disputes are handled. Responsive customer support matters when a payment fails or an account is frozen.

Frequently Asked Questions About Fintech Companies in Canada

Which is the biggest fintech company in Canada?

By client assets, Wealthsimple is the largest consumer fintech in Canada, with about C$155.6 billion in assets under administration as of June 30, 2026. Nuvei is one of the largest by payment revenue, though it is now privately held.

Are Canadian fintech apps safe to use?

Most are regulated and use bank-grade security, but protection varies. Some are banks, while others hold your funds through partner institutions, so check whether deposits are CDIC-insured and whether the company is registered with the relevant regulator.

Which Canadian fintech companies are pursuing bank licences?

KOHO is actively pursuing a federal bank licence and raised capital in 2026 for that purpose, though approval is still pending. EQ Bank already operates under Equitable Bank’s licence.

What is the best fintech company in Canada?

There is no single best option for everyone. Wealthsimple suits investors, KOHO and Neo suit everyday spending, while Float, Helcim and FreshBooks are built for businesses.

Conclusion

Canada’s fintech industry is bigger and more mature than ever in 2026. Wealthsimple is taking on the big banks directly, KOHO is working toward a bank licence, and Float, Helcim and Neo are raising fresh capital to grow.

The fintech companies in Canada on this list show that local platforms can compete on price, product and scale. Whether you’re trying to save money or run a business, there is now a Canadian-built option worth a close look.