What are the best finance startups in Toronto? What type of services do they offer? Here is everything you need to know about these companies!

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Best Finance Startups in Toronto

Finance companies in Toronto follow an innovative approach and incorporate the latest technologies to streamline financial services and make them more accessible to the public and businesses.

These companies offer various services, including investments, savings, loan processing, and digital solutions. Let us give you a list of the best finance startups in Toronto. Read on!

1. Wealthsimple:

Sector: Robo-Advisor, Investment Management.

Overview: Wealthsimple is renowned for its user-friendly platform that simplifies investing for users of various experience levels. The platform offers services like automated investing, commission-free trading, and crypto trading. It is designed to make financial planning, investing, and retirement savings accessible and straightforward. They offer a diverse portfolio, including ETFs for responsible investing.

2. Borrowell:

Sector: Credit Score & Reporting, Personal Finance.

Overview: Borrowell provides free credit score checking, financial education, and personalized financial product recommendations. It aims to empower consumers to improve their financial well-being by providing tools and information that help them understand and manage their credit effectively.

3. League:

Sector: Health Insurtech.

Overview: League is revolutionizing employee health benefits. It offers a health insurance platform with flexible and personalized plans, helping businesses attract and retain talent. Their platform also provides health accounts, lifestyle spending accounts, and a marketplace for health services and products.

4. Wave:

Sector: Small Business Financial Software.

Overview: Wave targets small business owners and entrepreneurs with its suite of financial services and software solutions. The platform offers free accounting, invoicing, and receipt-scanning software, with additional paid services like payment processing and payroll. It supports businesses in managing their finances efficiently.

5. SecureKey Technologies:

Sector: Identity Verification, Blockchain.

Overview: SecureKey leverages blockchain technology to offer secure and efficient identity verification solutions. Their services are utilized by various organizations, including banks, telecom providers, and government bodies, to facilitate secure online transactions and identity verification while protecting users’ privacy.

6. Coinsquare

Coinsquare is a cryptocurrency trading platform. It allows users to sell, buy, and trade digital assets. Users can deposit funds through bank wire transfer and trade multiple cryptocurrency pairs.

In addition, it provides market data related to cryptocurrencies and digital assets. It allows users to transfer funds from their wallets to other users. It also allows users to view the history of past transactions and transfers. The app is available on Android and iOS platforms.

7. LEDN

LEDN is a lending platform using blockchain and cryptocurrency. It offers loans secured by bitcoins. The company provides an independent wallet address with real-time confirmation of the reserve on the chain.

The company also offers loans to individuals and businesses at a low-interest rate. It enables enterprises to leverage the power of technology, increase their revenues, and improve their company’s bottom line.

8. Fresh Books

Fresh Books offers accounting software and cloud-based billing for businesses. It has various solutions for bookkeeping, invoicing, timekeeping, project management, online payments, financial reporting, expense management, and more. Small businesses, freelancers, and small teams use the company’s platforms to improve their financial stability.

9. Loopio

Loopio offers a contract management solution for businesses. It provides companies with tools to automatically create and exchange contracts with potential clients. The company’s RFP Software product provides solutions for content management, collaboration, and automation of RFPs.

Moreover, it allows users to aggregate and organize content, set up content validation, assign tasks, and track team progress. Its product, Proposal Management Software, provides solutions for proposal creation and development. It lets you create and develop interactive and updatable proposals.

10. League

The League offers a SaaS digital platform for employee benefits. The platform allows employers to easily manage their benefits programs and provide health care services to their employees.

The web-based application allows the creation of individual medical expense accounts and tracks employee usage. It also provides personalized offers for employees provided on-site by leading healthcare providers.

11. KOHO

Koho is an online bank for individuals. It offers deposit accounts, savings, and NFC-enabled prepaid cards for online and offline shopping and other services. You can track your spending and savings.

In addition, it categorizes expenses paid with the card. It has a saving module that automatically saves money and helps users save money. The company’s platform is available for Android and iOS devices.

12. Planswell:

Sector: Financial Planning.

Overview: Planswell aims to provide effortless financial planning. The platform allows users to build free financial plans, guiding them towards more informed decisions regarding investments, insurance, and mortgages. Planswell focuses on offering a simplified, holistic approach to personal finance.

13. Finaeo:

Sector: Insurtech.

Overview: Finaeo is an insurtech startup designed to assist insurance advisors. The platform provides a digital assistant that aids in administrative tasks, client management, and policy organization, streamlining the process for advisors and enhancing the customer experience.

14. Overbond:

Sector: Fixed Income and Bond Market.

Overview: Overbond is a digital platform specializing in the bond issuance market. It offers solutions that bring transparency and efficiency to the primary bond issuance process, serving corporate issuers, investment bankers, and institutional investors.

15. Sensibill:

Sector: Receipt Management, Expense Reporting.

Overview: Sensibill offers a receipt management solution designed for freelancers and small business owners. The platform allows users to easily capture, organize, and report their expenses, simplifying the tax preparation and expense tracking process.

16. Dream Payments:

Sector: Payments.

Overview: Dream Payments is a fintech company that facilitates digital and mobile payments for businesses of all sizes. With solutions for insurers, financial institutions, and merchants, the platform supports various payment types, including debit and credit transactions.

Final Words

Finance startups in Toronto simplify financial transactions for individuals and businesses, making them more accessible and affordable. In addition, these companies provide AI, big data, blockchain technology, and related services to businesses and ensure the security of their financial data.

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• Article based on personal opinion, experience and research.
• Photos from Unsplash & canva.