1st Canadian Fintech Soft Landing Expedition to Madrid
28 May 2020
The Embassy of Canada and Finnovating hold the 1st Canadian Fintech Soft Landing Expedition to Madrid
Ranked as having the most stable banking system in the world, Canada is also hotbed of ingenuity and tech expertise spanning financial services, insurance, e-commerce, wealth management, cybersecurity, crypto currencies, quantum computing, and more. A global leader in the development of artificial intelligence, the technology behind many fintech innovations, Canada ranks as the most educated workforce in the OECD countries.
Fueled by the country’s strengths—ICT is Canada’s fastest-growing sector, and Canada is home to the second-largest financial center in North America—fintech in Canada also benefits from a world-leading AI and blockchain ecosystem that includes research and startups. Of the country’s 995 fintech companies, which employ more than 31,000 people, 81% have Canadian headquarters. Almost 85% of Canadian fintech companies are startups. In terms of sub-categories of the Canadian fintech, over 23% of Canadian firms in the sector operate in the paytech space, while companies involved in the fIntech, lendtech, wealthtech, regtech and insurtech subsectors reflect 46% of Canada’s fintech companies.