• MeetAmi Innovations, a provider of digital asset investing products and services for wealth management advisors, was the largest FinTech seed deal in Canada in H1 2022 raising a sizeable $29m from Private International Consulting. MeetAmi Innovations will use the fresh funding to accelerate the development of its technology platform and features needed by advisors to transact and manage Digital Asset portfolios.
• The Blockchain & Crypto sector attracted the highest number of seed deals in Canada accounting for three of the top ten deals and 28% (10 deals in total) of all FinTech seed deals in Canada for the first half of 2022. In total there were 35 FinTech seed deals in Canada during the first half of 2022 raising a combined total of $113m.
• Canadian Blockchain & Crypto regulation has taken a centralised approach to a decentralised market, not outright banning usage but classifying crypto as general commodities rather than legal tender meaning every transaction is taxable. The Bank of Canada has stated that “it is actively assessing the outcomes of introducing a central bank-regulated digital currency (CBDC)”. Compared to conventional cryptocurrencies, the bank has also stated that “stablecoins” are better for widespread adoption and potential financial revolution in the world of money and payments.
The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2022 FinTech Global