Media Advisory: Finalists announced for Canada’s FinTech Cup

Ten Canadian startups to compete for cash prizes at the Payments Canada SUMMIT in Toronto

May 17, 2017, Ottawa: The Payments Canada SUMMIT will again play host to a competition between some of Canada’s most innovative FinTech, PayTech, AI and RegTech startups. The FinTech Cup, a collaboration between Payments Canada, 500 Startups, The Digital Finance Institute and sponsored by Paysafe and CIBC, is intended to foster innovation and talent in the payments ecosystem and drive awareness and funding for the finalists.

From more than 40 submissions, the following ten startups were selected to pitch to an esteemed panel of judges in a head-to-head Dragon’s Den-style competition at Toronto’s Westin Harbour Castle, May 24 – 26, 2017:

  • A white-label virtual banking assistant, powered by AI
  • Payment Rails: Helps simplify global business payouts to any individual or company worldwide
  • Zighra: Protects mobile user interaction and data against remote and automated attacks
  • Nuco: Bridges the gap between blockchain technology and mainstream enterprise
  • Helps mortgage lenders acquire, onboard and retain profitable customers
  • Lending Arch: Online POS lender for healthcare and home improvement purchases
  • Branche: A decentralized micro-credit and financial services platform
  • POPcodes: POPcodes increases loyalty and profitability in the retail and payment value chains
  • MindBridge AI: Minimizes financial risks using AI to detect anomalous transactions
  • Cerebri AI: Monetizes customer journeys for decision insights and revenue growth

The judging panel includes representatives from 500 Startups, Omers Ventures, Information Venture Partners, CIBC, Paysafe, Payments Canada, as well as Joi Ito (venture capitalist and Director of the MIT Media Lab).

Contest details

Each of the ten finalists will pitch their startup on May 25 at the Payments SUMMIT. Four companies will advance to the finals on May 26.

The FinTech Cup Grand Prize ($20,000), People’s Choice Award First ($10,000), Second ($5,000) and Third ($2,500) will be announced during the closing remarks at 11:50 AM on May 26, Metropolitan Ballroom, Westin Harbour Castle, Toronto.

Media are welcome to attend The Payments Canada SUMMIT and/or schedule interviews with the finalists.

For media inquires, please visit the Media Centre.

About Payments Canada

Payments Canada ensures that financial transactions in Canada are carried out safely and securely each day. The organization underpins the Canadian financial system and economy by owning and operating Canada’s payment clearing and settlement infrastructure, including associated systems, bylaws, rules and standards. The value of payments cleared and settled by Payments Canada in 2016 was C$51 trillion or C$201 billion every business day. These encompass a wide range of payments made by Canadians and businesses involving inter-bank transactions, including those made with debit cards, pre-authorized debits, direct deposits, bill payments, wire payments and cheques