According to KPMG, investments in Canadian fintech companies reached $1.4 billion in 2020 alone as the global pandemic accelerated consumer demand for digital financial products. Today, the total number of fintech companies in Canada has reached 700, according to Accenture, and there continues to be opportunity for growth in the country when it comes to fintech adoption and financing rates. Moreover, a significant increase has been observed in the number of fintech incumbent partnerships.
“In 2020, we saw a lot more collaboration between Canadian fintech and the incumbent financial institutions,” said Hardbacon CEO Julien Brault. “With bank branches suddenly empty, licensing technologies from Canadian fintech or partnering with them was of increasing interest.”
To establish the top 50 ranking, Hardbacon looked at various factors including funding, website traffic and impact of each company. The first 10 Canadian fintech companies who made the cut include:
2021 Canadian Fintech Companies Ranking by Hardbacon
2. Coinberry
3. Clearco
(formerly Clearbanc)
5. Buckzy
7. Borrowell
8. Blockstream
9. Bitbuy
10. Bench
Hardbacon’s 2021 Canadian Fintech Companies Ranking including the complete list of top 50 companies can be found in more detail on Hardbacon’s blog.
Hardbacon launched as an app for retail investors and transformed into an app for all Canadians to take control of their finances at the height of the COVID-19 pandemic. Today, it is on a mission to help Canadians make better financial decisions and in turn get the bacon to lead wealthier and more financially secure lives.
Hardbacon is available for download in the App Store and Google Play Store. For more information, please visit www.hardbacon.ca.
About Hardbacon
Bacon Financial Technologies, better known by its brand name Hardbacon, is dedicated to helping Canadians make better financial decisions, get wealthier and achieve their financial goals. The company, which has secured 2.4 million in funding, markets a mobile app that links to its users’ accounts and helps them plan, budget and invest. Hardbacon also enables its users to compare different financial services such as credit cards, bank accounts, online brokers and robo-advisors. The company also markets its technology to financial institutions to help them accelerate their digital transformation.
About Hardbacon
Hardbacon is committed to helping Canadians make better financial decisions through its innovative fintech app, financial calculators, personal finance guides, and financial product comparison tools. Reaching more than 3 million Canadians on an annual basis through its app and website, Hardbacon has helped millions of users pick credit cards, bank accounts car insurance, and personal loans since its foundation in 2017.
