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Funding and advertised pay are reported in USD; filed accounts retain their stated source currency and basis.

Exchange-rate basis

Indicative conversions use ECB reference rates dated 2026-09-14, applied consistently across all periods. They are not historical exchange rates. Indian rupees may use crore (1 crore = 10 million); other currencies use K, M and B. CSV downloads, source documents and quoted news headlines retain their original currencies.

THE TORONTO EDITION 2026

Toronto’s
fintech industry,
in focus.

The companies, capital and talent shaping fintech in Toronto. Find the leaders. Understand the segments. See where the activity is.

Explore in Radar Read the key signals
Snapshot: Funding in USD
Illustrated cover for Fintech Industry Landscape of Toronto
CA
COMPANIES · CAPITAL · TALENT

An industry ecosystem,
measured in context.

Fintech illustration
Companies tracked 790Fintech ecosystem in Toronto Disclosed funding $7.96B143 companies · all recorded rounds Companies hiring 72With open roles at the snapshot Tracked open roles 2522 employers posted in the preceding 30 days
MEET THE COMPANIES

Explore Toronto’s fintech leaders

24 featured companies from the funding, hiring, revenue and team-size leaderboards.

Expand panel +
Explore the full landscape
Fintech company highlights in Toronto, snapshot 1 September 2026
Company
Wealthsimplewealthsimple.com$1.29B—29—
Pineapplegopineapple.com$1.18B—259Financial figure available in RadarView in Radar
Clearcoclear.co$1.02B—315—
Flexitiflexiti.com$858.47M—418—
KOHOkoho.ca$494.08M—270—
Leagueleague.com$241.95M—136—
Properlyproperly.ca$159.75M—66—
Lednledn.io$154.25M—54—
Financeitfinanceit.io—11 roles255—
Monerismoneris.com—11 roles126—
RateHubratehub.ca—11 roles180—
Paramount Commerceparamountcommerce.com—10 roles——
Interacinterac.ca—9 roles——
Tangerinetangerine.ca—9 roles——
Securian Canadasecuriancanada.ca—8 roles273—
EQ Bankeqbank.ca—7 roles1,700—
BOXX Insuranceboxxinsurance.com——43—
Fincrafincra.com——70—
LendDirectlenddirect.ca————
Magical Creditmagicalcredit.ca————
PolicyMepolicyme.com——2,802—
Propel Holdingspropelholdings.com——419—
PureFactspurefacts.com——123—
Relayrelayfi.com——128—
24 featured companies

Locked revenue figures are available in Radar; the eight company financial previews stay the same throughout this page. A dash means the figure is outside these featured lists. Revenue years vary by company; the figures are not a like-for-like revenue comparison. Compare annual accounts ↗

Company discovery

Recorded evidence only

Explore the live startup set in Radar

No company example met every recorded classification, independence and public-profile gate in this snapshot. The live directory may have newer qualifying companies.

Explore classified startups in Radar ↗
THE KEY SIGNALS

Fintech industry KPIs in Toronto

A few useful ratios bring the size of this ecosystem into perspective.

1 September 2026
Hiring participation9.1%

72 of 790 tracked companies have open roles.

Funding participation20.8%

164 of 790 tracked companies have a recorded round.

Top 3 funding share44.0%

Share of disclosed capital received by the three largest recorded recipients.

Median disclosed round$4M

Midpoint of 302 rounds with a disclosed amount.

Scale is concentrated. Opportunity is broader. The three largest funding recipients hold 44.0% of disclosed capital, while 79.2% of tracked companies have no recorded funding round.

Explore the segments →
CAPITAL & COMPANY FORMATION

How Toronto fintech has grown

Recorded company formation and disclosed funding across the complete annual series shown.

Expand panel +
2016 — 2025

Disclosed funding by year

Sum of recorded funding rounds · USD

Toronto fintech
$0$564.5M$1.13B$1.69B$2.26B2016: $155.08M20162017: $433.44M20172018: $878.4M20182019: $576.77M20192020: $1.43B20202021: $1.98B20212022: $923.77M20222023: $239.89M20232024: $364.71M20242025: $631.34M2025
View the numbers
Annual fintech funding and company formation in Toronto
YearFunding (USD)FoundedRaising
2016$155.08M4214
2017$433.44M4821
2018$878.4M6825
2019$576.77M5419
2020$1.43B4623
2021$1.98B4540
2022$923.77M2533
2023$239.89M3423
2024$364.71M2321
2025$631.34M8324
WHERE CAPITAL SITS

Funding concentration

Share of all disclosed company funding.

  • Wealthsimple16.3%
  • Pineapple14.8%
  • Clearco12.9%
  • Other companies56.0%

Funding by stage

371 recorded rounds since 2016

NUMBER OF ROUNDS
Seed & Angel158 42.6%
Series A–B107 28.8%
Series C+ / PE32 8.6%
Grants, debt & other74 19.9%

Recent recorded rounds

Latest recorded rounds · USD
3 rounds

Swipe or scroll horizontally to browse.

Series C05/2026
Relay $50M

Backed by General Catalyst.

Series A04/2026
Common Wealth $8.66M

Backed by Good & Well and Agetech Capital and others.

Series A03/2026
Chexy $10.18M

Backed by Khosla Ventures and Venrex and others.

Largest and notable recorded rounds

Each card is one recorded round
10 cards

Swipe or scroll horizontally to browse.

Series C07/2021
Clearcoclear.co$215M

Backed by SoftBank Vision Fund and Bow Capital and others.

Series D02/2022
KOHOkoho.ca$164.97M

Backed by Eldridge Industries and Drive Capital and others.

Series C02/2022
Leagueleague.com$95M

Backed by TDM Growth Partners and Workday Ventures and others.

THE BUSINESS BEHIND THE ACTIVITY

Revenue, profitability & financial strength

Expand panel +

Annual accounts availability

The measured Canada identity-to-filing probe did not produce a qualifying designated legal or national-ID join: world_filings_distributed exposes no reviewed Canadian national-ID key; none of the designated Canadian identities carried a CIK.; The measured Canada identity-to-filing probe did not produce a qualifying designated legal or national-ID join: world_filings_distributed exposes no reviewed Canadian national-ID key; none of the designated Canadian identities carried a CIK.

DIGITAL FOOTPRINT

Web traffic, app reach and release cadence

How the Toronto companies on this page show up online: the sites people visit, the apps they install, and how often those apps ship.

Busiest websites

19 of the 790 companies on this page carry a measured traffic record (2.4%); these are the largest of those, by monthly visits. The median among them is 443,934 visits.

CompanyMonthly visitsAuthorityMobile
Interacinterac.ca28,136,6305190%
Wealthsimplewealthsimple.com8,595,4126631.4%
Tangerinetangerine.ca3,939,5045956.2%
Borrowellborrowell.com3,136,8604788.5%
KOHOkoho.ca2,558,1974494%
Flexitiflexiti.com642,9024878%
Investor Linebmoinvestorline.com634,2264311.2%
Rbc Direct Investingrbcdirectinvesting.com539,6724962.4%
RateHubratehub.ca521,9805541.2%
Rates.carates.ca443,9344777.1%

Visits and authority are third-party web estimates, not company-reported figures.

Most-installed apps

73 of these companies (9.2%) publish at least one Android app — 112 apps in all, carrying 15.7M installs between them.

AppInstallsRatingStore category
Wealthsimple - Grow your moneyWealthsimple3.3M3.3Finance
Raenest (formerly Geegpay)Geegpay3.3M4.2Finance
KOHO: Canada\'s Money AppKOHO2.1M4.8Finance
Tangerine Mobile BankingTangerine1.7M4.6Finance
Green PGreen P1.2M3.1Maps & Navigation
HonkMobile: Pay for ParkingHonkMobile1.1M4.3Maps & Navigation
Borrowell: Credit Score CanadaBorrowell828.1K4.5Finance
Mydoh - Youth Money App & CardMydoh334.9K—Finance
Canadian Mortgage AppCanadian Mortgage App216.5K4.7Finance
GreenShield+GSC199.2K4.5Business

Installs are lifetime totals to date at the June 2026 store reading — a measure of reach, not of people using an app today.

App reach by segment

The busiest app inside each of this page’s own segments, with the quarterly release trend behind it (2023Q1–2026Q1).

SegmentAppsInstallsLeading appRelease trend
Cryptocurrencies93.5MWealthsimple - Grow your money 3.3M
Investment Tech123.5MScotia iTRADE mobile 162.2K
Finance & Accounting Tech63.3MRaenest (formerly Geegpay) 3.3M
Banking Tech192.7MTangerine Mobile Banking 1.7M
Road Transport Tech32.2MGreen P 1.2M
Alternative Lending151.4MBorrowell: Credit Score Canada 828.1K
Hrtech10467.6KGreenShield+ 199.2K
Employee Health It9395.7KMÉDIC Construction 59.3K

A company can carry several segment tags, so these rows overlap and should not be added together. Trend lines are zero-based and share one quarter grid, so a flat line is a quiet segment, not a missing one.

Release cadence by quarter

New apps published, beside apps whose most recent update landed in that quarter — the second bar is how much of the shelf is still being maintained.

2023Q1: 32023Q1: 02023Q12023Q2: 22023Q2: 02023Q22023Q3: 42023Q3: 12023Q32023Q4: 22023Q4: 12023Q42024Q2: 12024Q2: 02024Q22024Q3: 22024Q3: 32024Q32024Q4: 42024Q4: 22024Q42025Q1: 32025Q1: 12025Q12025Q2: 22025Q2: 12025Q22025Q3: 32025Q3: 82025Q32025Q4: 22025Q4: 132025Q42026Q1: 12026Q1: 142026Q1

Darker bars are new releases, lighter bars apps updated. 80 of 112 apps carry a release date. The series ends at 2026Q1, the last quarter that closed before the June 2026 reading.

INSIDE THE INDUSTRY

The Toronto fintech market map

Explore the segments behind the headline numbers.

Expand panel +

Where companies are building

Rank segments by scale, hiring or disclosed funding.

Enterprise tech408
Consumer digital402
Enterprise software210
Blockchain in financial services127
Saas117
Nbfc lenders116
Crypto trading platforms103
Business payments solutions92
Commerce enablers70
Marketplaces67
Fintech saas64
Online trading platforms41

Companies can sit in several segments. Counts and funding overlap.

SEGMENT TO EXPLORE

Enterprise tech

The largest measured segment in this report snapshot.

408companies
11.8%have hiring activity

48 companies hiring · $3.77B disclosed funding

Explore in Radar

How companies make money

Common revenue models; a company can use more than one.

Subscription515
Commission on transaction436
Fee-for-service166
E-commerce - service130
Lending87
Advertising27
E-commerce - product19
Freemium6
THE COMPANIES IN MOTION

Who is listing, hiring leaders, launching and winning work

Recorded corporate activity linked to companies in this landscape.

Expand panel +
Recent corporate headlines 10 dated reports
Mergers & acquisitionsmoneris.com ↗

Francisco Partners, a US-based technology-focused private equity firm, is reportedly in advanced negotiations to acquire Moneris, one of Canada's largest merchant payment processors, from its joint owners, Royal Bank of Canada (RBC) and Bank of Montreal (BMO). The potential transaction is valued at up to USD 2 billion, according to reports.

Mergers & acquisitionsboxxinsurance.com ↗

Last year, it acquired Canadian cyber insurtech Boxx Insurance, after backing the company in earlier funding rounds.

Funding roundscommonwealthretirement.com ↗

Toronto-based FinTech startup Common Wealth, which provides workplace retirement plans to small and mid-sized employers (SMEs), has closed $12 million CAD in Series A financing.

Funding roundsayacare.com ↗

Aya, a Saudi Arabia-based e-commerce platform focused on demand-driven fashion, has raised $7 million in a Series A round led by RAED Ventures.

Funding roundschexy.co ↗

Chexy raises $14m Series A led by Khosla Ventures ...

IPO activitytrolley.com ↗

Trolley is offering 35% of its issued share capital, or 96.3 million shares, in a deal that was upsized from a 30% free float based on strong demand.

Mergers & acquisitionspinchfinancial.com ↗

Royal Bank of Canada is expanding its digital mortgage capabilities with the acquisition of Toronto-based fintech Pinch Financial.

Funding roundspropelholdings.com ↗

Propel Holdings Inc. announced an additional commitment of up to US$150 million alongside the official launch of FreshLine, the unsecured personal line-of-credit product...

Mergers & acquisitionseqbank.ca ↗

transformational, potentially career-defining deal to buy PC Financial in December.

Full recorded event mix

Top 10 categories among 360 recorded events in the 24-month window.

Leadership moves
78
Funding rounds
60
Earnings
52
Mergers & acquisitions
40
New products
36
Company announcements
33
Regulatory
14
Contracts
14
Board Updates
11
Asset acquisitions
6
6 activity cards

Swipe or scroll horizontally to browse.

IPO pipeline

3 companies with recorded IPO activity

Trolley ↗

IPO · Boursa Kuwait’s Premier Market3 reports

IPO · Toronto Stock Exchange1 reports

Payfare ↗

IPO activity1 reports

Leadership moves

6 tracked people moves

Interac ↗
D’Arcy McDonald

Appointment Group Head, Product

XTM ↗
Keith Nugara

Appointment Board Member and Board Advisor

XTM ↗
Olga Balanovskaya

Departure Previously Chief Financial Officer

Dave Washburn

Appointment non-executive Vice Chairman of the Corporation

VeriFast ↗
Becca Stafford

Promotion Chief Operating Officer

VeriFast ↗
Jessica Tierney

Promotion Chief Integration Officer

Product launches

Products, platforms and features in the recorded window

Cyberboxx Business

Integrated commercial cyber solution

APX Lending ↗
USDC loans

Cryptocurrency Lending

FreshLine

Personal Finance / Lending

Moneris ↗
Moneris Go Terminal

Hardware

Moneris ↗
Moneris Go PIN Pad

Hardware

Mass Payments

FX Payment Platform

Manzil ↗
Manzil Russell Halal USA Broad Market ETF (MNZL)

Halal ETF

Interac ↗
Interac e‑Transfer Cards

Payment card

Contract wins

4 recorded customer wins

d1g1t ↗

Customer: pwl capitalWealthTech Platform

ASAPP ↗

Customer: Prosperity Credit Union

XTM ↗

Customer: koho financialFintech

Payfare ↗

Customer: doordashFinancial Services

Workforce actions

2 companies with reported reductions

Plooto ↗

27 rolesalign staffing to business strategy

KOHO ↗

Scale not stated roleslack of profitability

Regulatory events

17 recorded events

Fincra ↗

approved TPPP licence

approved for establishment of Propel International Bank, Inc.Office of the Commissioner of Financial Institution

approved for IFE licenseOffice of the Commissioner of Financial Institutions (OCFI)

XTM ↗

pending approvalCanadian Securities Exchange

Earnings pulse

Reported company results in the recorded window.

10companies
51period observations
30.0%median reported growth

Median across 33 reported growth observations; companies may contribute multiple periods.

Mergers and acquisitions

Company-linked deal reports; status is preserved as recorded.

Acquirer → targetStatusDateValue / context
francisco partners→Moneris ↗Announced2026-05-05$2.0B
zurich insurance→BOXX Insurance ↗Completed2026-04-23Not stated in snapshot
royal bank of canada→Pinch Financial ↗Announced2026-03-13Not stated in snapshot
EQ Bank→pc financialAnnounced2026-02-16Not stated in snapshot
belrise industries→SDM ↗Completed2026-02-04Not stated in snapshot
belrise industries→SDM ↗Completed2026-02-04Not stated in snapshot

A discussion or rumour is not a completed transaction. An unstated value is not zero.

PEOPLE & OPPORTUNITY

The talent market

840 postings in the preceding 12 months. The full 1,542-posting snapshot covers 88 employers.

Expand panel +

Most advertised job titles

Ca Financial Advisor36
Branch Office Administrator23
Life Insurance Sales Agent/Broker17
Mortgage Agent16
Mortgage Advisor11
Life Insurance Agent Quebec Market10
0 internship postings

94 tracked postings mention remote work.

The seniority mix

594 postings specify a level.

unspecified
948
manager
259
senior
249
lead
72
entry
10
intern
4

Skills employers mention

Top skills across 1,542 tracked postings in the available jobs snapshot.

Sql
21
Dbt
10
Python
9
Typescript
9
Infrastructure As Code
8
Node.Js
8
Linkedin
8
Gcp
8
Ci/Cd
7
Postgresql
7
ADVERTISED PAY$70.4K/ year

Median across 133 postings with pay data, expressed in USD.

THE PEOPLE BUILDING THE FIELD

Founders and leaders

415 founders and chief executives across 345 companies.

Expand panel +
12 profiles

Swipe or scroll horizontally to browse.

Education networks

93 profiles with education records.

University of Toronto
32
University of Waterloo
13
Queen's University
7
McGill University
7
Harvard University
6
York University
5
Harvard Business School
4
University of Oxford
4

Prior employers

13 profiles with prior-work records.

McKinsey
4
Microsoft
2
Amazon
2
Boston Consulting Group
2
Google
1
Facebook
1
Uber
1

Profiles cover recorded founders and leaders; contact details remain in Radar.

NEWS INTELLIGENCE

How this industry appears in the news

15,523 articles in the measured 12-month window.

Expand panel +
15,523articles in the measured year
3,888articles in 2026Q1
78.9%positive tone in the latest complete year

News volume trends

Fintech coverage tagged Toronto · articles per complete quarter

01,5803,1604,7406,3202021Q2: 4,5802021Q22021Q3: 4,0702021Q4: 2,6652022Q1: 4,2062022Q2: 3,6792022Q22022Q3: 3,2812022Q4: 3,0952023Q1: 3,4812023Q2: 4,0362023Q22023Q3: 3,8422023Q4: 3,7282024Q1: 4,7432024Q2: 4,6752024Q22024Q3: 4,2002024Q4: 4,7142025Q1: 5,4962025Q2: 3,8592025Q22025Q3: 4,0252025Q4: 3,6612026Q1: 3,8882026Q1
View quarterly article counts
QuarterArticles
2021Q24,580
2021Q34,070
2021Q42,665
2022Q14,206
2022Q23,679
2022Q33,281
2022Q43,095
2023Q13,481
2023Q24,036
2023Q33,842
2023Q43,728
2024Q14,743
2024Q24,675
2024Q34,200
2024Q44,714
2025Q15,496
2025Q23,859
2025Q34,025
2025Q43,661
2026Q13,888

Article volume measures coverage, not market sales.

Tone of coverage over time

2021
10,628 positive · 375 neutral · 1,360 negative
2022
11,548 positive · 378 neutral · 2,323 negative
2023
12,434 positive · 416 neutral · 2,218 negative
2024
14,779 positive · 632 neutral · 2,897 negative
2025
13,429 positive · 557 neutral · 3,040 negative

Leading coverage topics

Fintech coverage tagged Toronto · ranked by full-period article count.

Cryptocurrency Impact On Forex Markets13,120 articles in the full recorded period
3,401 recent · 2,795 prior
Quarterly And Annual Financial Results9,963 articles in the full recorded period
2,852 recent · 2,467 prior
Corporate Earnings Reports And Financial Performance8,564 articles in the full recorded period
2,608 recent · 2,065 prior
Initial Public Offerings (Ipos)7,941 articles in the full recorded period
2,377 recent · 2,202 prior
Trade Wars And Geopolitical Impacts6,028 articles in the full recorded period
1,597 recent · 3,208 prior
Economic Indicators (Gdp, Cpi, Unemployment)5,805 articles in the full recorded period
1,487 recent · 2,740 prior
Stock Price Fluctuations And Market Reactions5,409 articles in the full recorded period
3,481 recent · 1,561 prior
Mergers And Acquisitions Activity Updates5,315 articles in the full recorded period
1,679 recent · 1,292 prior
Executive Leadership Changes And Appointments5,297 articles in the full recorded period
1,296 recent · 1,287 prior
Global Recession Risks And Forecasts4,734 articles in the full recorded period
1,277 recent · 2,571 prior

Recent and prior counts use the source comparison windows.

Topics gaining and losing attention

Canada comparison coverage

KeywordRecentPriorChange
stock price1,31878767%
share price68339274%
investment deal573266115%
stock surge532257107%
auger drilling33422946%
decentralized forex26817454%
stock movement254120112%
private equity220109102%
student loan deferment203161169%
student loan forgiveness202131454%
economic slowdown6651,535-57%
tariff negotiations3621,002-64%
trade deficits fx208535-61%
trade wars forex165464-64%
inflation reports fx191456-58%

Event and signal lenses

Canada comparison coverage

All complete annual cohorts shown
Rising

Regulatory Risk

187,791 classified articles

stock performance, economic slowdown, monetary easing

31.4% critical · 40.4% positive
Rising

Funding Momentum

37,858 classified articles

inflation reports fx, trade deficits fx, stock performance

25.4% critical · 50.4% positive
Rising

Growth

65,516 classified articles

earnings report, quarterly financials, financial report

29.3% critical · 44.1% positive

Fintech coverage tagged Toronto. Topic labels describe recorded classifications and can include broad context.

RESEARCH SIGNALS

What Fintech research is working on

13,825 papers in the recorded worldwide scope.

Expand panel +
13,825papers
13,825worldwide comparison pool
—India-affiliated papers

Research orientation

Promising
4,450
Descriptive
3,501
Problem-identifying
3,141
Cautionary
1,411
Breakthrough
754
Comparative
414
Critical
154

Contribution mix

Empirical
8,354
Reviews
2,307
Position pieces
1,635
Methods-led
1,361
Theoretical
168

Tone counts: 12,714 positive · 252 neutral · 859 negative.

Common problems researchers identify
3,295 papers · 23.8% of this field
  • Financial services1,723 papers
  • FinTech1,301 papers
  • Financial inclusion570 papers
  • Payment489 papers
  • Government245 papers
  • Financial literacy205 papers
  • Cryptocurrency201 papers
  • Investment172 papers

Landmark: The digital revolution in financial inclusion: international development in the fintech era

Cautions
1,411 papers · 10.2% of this field
  • Financial services670 papers
  • FinTech538 papers
  • Financial inclusion348 papers
  • Payment283 papers
  • Financial literacy129 papers
  • Mobile payment102 papers
  • Digital currency95 papers
  • Investment91 papers

Landmark: Blockchain Technology in Finance

Opportunities
5,204 papers · 37.6% of this field
  • Financial services2,148 papers
  • FinTech1,839 papers
  • Financial inclusion1,123 papers
  • Financial literacy786 papers
  • Payment749 papers
  • Database transaction382 papers
  • Investment314 papers
  • Mobile payment301 papers

Landmark: On the Fintech Revolution: Interpreting the Forces of Innovation, Disruption, and Transformation in Financial Services

Leading institutions

UNSW Sydney
743
University of Manchester
727
University of York
716
University of the West of England
716
Universidad de Zaragoza
685
Columbia University
667

Leading researchers

Robert J. Kauffman
1,822
Peter Gomber
1,821
Chris Parker
1,821
Bruce W. Weber
1,821
Daniela Gabor
716
Sally Brooks
716
Itay Goldstein
621
Wei Jiang
621

Highly cited breakthrough-labelled papers

  • On the Fintech Revolution: Interpreting the Forces of Innovation, Disruption, and Transformation in Financial Services1,820 citations
  • Intention to use analytical artificial intelligence (AI) in services – the effect of technology readiness and awareness370 citations
  • The FinTech phenomenon: antecedents of financial innovation perceived by the popular press240 citations
  • FinTech ecosystem practices shaping financial inclusion: the case of mobile money in Ghana116 citations
  • CBDC, Fintech and cryptocurrency for financial inclusion and financial stability100 citations

Common problems researchers identify

10,570 papers · 7 recurring themes
7 cards

Swipe or scroll horizontally to browse.

Financial Inclusion ChallengesCommon problems researchers identify · 01

Financial Inclusion Challenges

1,447 papers

24.1% of this theme group

Researchers discuss how fintech impacts access to services and the obstacles to broader financial inclusion.

FinTech (679) · Financial services (885) · Financial inclusion (269) · Financial innovation (90)

Enriching Financial Inclusion through Fintech

DIGITAL TRANSFORMATION IN THE BANKING SYSTEM: PROSPECTS FOR COOPERATION BETWEEN FINTECH COMPANIES AND BANKS

View research history
YearShare index
2022535.2
2023588.5
2024650.5
20251023.2
Payment System LimitationsCommon problems researchers identify · 02

Payment System Limitations

1,364 papers

22.7% of this theme group

Papers highlight cost, security, and regulatory issues that hinder electronic payment adoption.

Payment (1,251) · Payment system (509) · Payment service provider (217) · Settlement (86)

Better than Cash, but Beware the Costs: Electronic Payments Systems and Financial Inclusion in Developing Economies

ISSUES AND CHALLENGES OF ELECTRONIC PAYMENT SYSTEMS

View research history
YearShare index
2022590.9
2023562.2
2024710.5
2025799.0
Mobile Payment Adoption BarriersCommon problems researchers identify · 03

Mobile Payment Adoption Barriers

1,149 papers

19.1% of this theme group

Studies examine user acceptance, technology constraints, and contextual factors affecting mobile payment use.

Mobile payment (869) · Mobile banking (220) · Mobile business development (111) · Mobile phone (135)

User Acceptance Testing of Mobile Payment in Various Scenarios

Exploring Determinants Influencing the Intention to Use Mobile Payment Service

View research history
YearShare index
202277.6
202383.0
202482.8
2025139.8
Credit Card Fraud RisksCommon problems researchers identify · 04

Credit Card Fraud Risks

692 papers

11.5% of this theme group

Works focus on detection methods and the persistent threat of fraudulent credit‑card activity.

Credit card fraud (107) · Credit card (118) · Financial fraud (43) · Computer security (107)

Machine Learning for Credit Card Fraud Detection

Credit Card Fraud Detection and Analysis

View research history
YearShare index
202247.3
202347.0
202447.7
202563.6
Algorithmic Trading ConcernsCommon problems researchers identify · 05

Algorithmic Trading Concerns

585 papers

9.8% of this theme group

Research addresses market impact, regulatory gaps, and potential for insider‑type abuses in high‑frequency trading.

Algorithmic trading (222) · High-frequency trading (148) · Alternative trading system (140) · Insider trading (79)

High-Frequency Trading and Its Impact on Markets

High-Frequency Trading: A Regulatory Strategy

View research history
YearShare index
202219.5
202320.0
202418.3
202531.1
Portfolio Optimization DifficultiesCommon problems researchers identify · 06

Portfolio Optimization Difficulties

404 papers

6.7% of this theme group

Authors explore computational complexity and model risk in modern portfolio construction.

Portfolio (386) · Portfolio optimization (163) · Modern portfolio theory (70) · Post-modern portfolio theory (46)

Machine Learning Optimization Algorithms & Portfolio Allocation

Portfolio Optimization: New Challenges and Perspectives

View research history
YearShare index
2022315.6
2023306.6
2024225.8
2025345.9
Money‑Laundering Compliance IssuesCommon problems researchers identify · 07

Money‑Laundering Compliance Issues

359 papers

6.0% of this theme group

Papers investigate regulatory frameworks and the tension between anti‑money‑laundering measures and inclusion.

Money laundering (320) · Terrorism (65) · Accounting (54) · Compliance (44)

National and international anti-money laundering law : developing the architecture of criminal justice, regulation and data protection

Balancing anti-money laundering measures and financial inclusion

View research history
YearShare index
20221897.3
20231880.1
20241584.8
20251002.7

Cautions

3,742 papers · 7 recurring themes
7 cards

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Fintech Stability RisksCautions · 01

Fintech Stability Risks

756 papers

20.2% of this theme group

Scholars caution that rapid fintech growth may affect system stability and regulatory oversight.

FinTech (412) · Financial services (449) · Financial inclusion (227) · Financial innovation (65)

The Role of Fintech Technology in Improving Financial Inclusion and Financial System Stability

Advancing Financial Inclusion through FinTech: A Regulatory Insight into Emerging Industry Practices

View research history
YearShare index
2022535.2
2023588.5
2024650.5
20251023.2
High‑Frequency Trading RegulationCautions · 02

High‑Frequency Trading Regulation

579 papers

15.5% of this theme group

Analyses critique current reforms and the need for stronger oversight of rapid trading strategies.

Algorithmic trading (254) · High-frequency trading (153) · Alternative trading system (102) · Trading strategy (117)

High Frequency Trading and Its Impact on Market Quality

Implementing High Frequency Trading Regulation: A Critical Analysis of Current Reforms

View research history
YearShare index
202219.5
202320.0
202418.3
202531.1
Payment Policy TransitionsCautions · 03

Payment Policy Transitions

565 papers

15.1% of this theme group

Research warns about unintended effects when shifting to new payment models and reimbursement structures.

Payment (536) · Payment system (180) · Reimbursement (36) · Prospective payment system (34)

Hospital response to a new case-based payment system in China: the patient selection effect

Payments transition in India – consumer preferences and policy shifts

View research history
YearShare index
2022598.5
2023567.6
2024714.6
2025803.0
Portfolio Model RiskCautions · 04

Portfolio Model Risk

522 papers

13.9% of this theme group

Studies highlight statistical and econometric uncertainties that can undermine portfolio decisions.

Portfolio (494) · Portfolio optimization (203) · Diversification (105) · Econometrics (109)

Model Risk in Portfolio Optimization

Optimization of portfolio management based on vector autoregression models and multivariate volatility models

View research history
YearShare index
2022318.1
2023308.9
2024228.0
2025346.6
Mobile Money User ExperienceCautions · 05

Mobile Money User Experience

496 papers

13.3% of this theme group

Works stress the importance of usability and trust for mobile financial services in emerging markets.

Mobile payment (380) · Mobile banking (81) · Payment (228) · Mobile phone (39)

Mobile Money for Financial Inclusion

Understanding user experience of mobile money services in emerging markets

View research history
YearShare index
2022633.6
2023610.5
2024762.5
2025878.6
Financial Fraud Detection LimitsCautions · 06

Financial Fraud Detection Limits

495 papers

13.2% of this theme group

Authors discuss challenges in applying AI to detect diverse forms of financial fraud reliably.

Accounting (63) · Money laundering (78) · Audit (50) · Credit card fraud (26)

A Review on Financial Fraud Detection using AI and Machine Learning

Use of Machine Learning in Financial Fraud Detection: A Review

View research history
YearShare index
20222207.7
20232190.6
20242016.5
20251778.7
Digital Currency SecurityCautions · 07

Digital Currency Security

329 papers

8.8% of this theme group

Papers examine cybersecurity and stability risks associated with blockchain and cryptocurrency payments.

Digital currency (124) · Blockchain (71) · Cryptocurrency (95) · Currency (78)

Cybersecurity and Blockchain for Secure Financial Transactions: Evaluating, Implementing, and Mitigating Risks of Digital Payments

Public Payment Systems in the Digital Era: Responding to the Financial Stability and Security-related Risks of Cryptocurrencies

View research history
YearShare index
2022801.9
2023842.3
2024890.0
20251127.0

Opportunities

28,937 papers · 7 recurring themes
7 cards

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Advanced Portfolio OptimizationOpportunities · 01

Advanced Portfolio Optimization

1,697 papers

28.3% of this theme group

Research proposes new mathematical models and multi‑objective strategies for better asset allocation.

Portfolio (1,578) · Portfolio optimization (936) · Mathematical optimization (268) · Modern portfolio theory (157)

Application of portfolio optimization

The research on portfolio optimization model and strategy for multiple objectives

View research history
YearShare index
2022371.2
2023354.5
2024252.1
2025358.7
Machine‑Learning Fraud DetectionOpportunities · 02

Machine‑Learning Fraud Detection

1,066 papers

17.8% of this theme group

Studies showcase algorithms that improve identification of credit‑card fraud and related crimes.

Credit card fraud (265) · Credit card (252) · Financial fraud (77) · Computer security (173)

Credit Card Fraud Detection using Machine Learning Algorithms

Analyzing Credit Card Fraud Detection based on Machine Learning Models

View research history
YearShare index
202247.3
202347.0
202447.7
202563.6
Fintech for InclusionOpportunities · 03

Fintech for Inclusion

778 papers

13.0% of this theme group

Works explore how technology can expand access, literacy, and equity in financial services.

FinTech (338) · Financial services (366) · Financial inclusion (210) · Financial literacy (128)

ROLE OF FINTECH IN FINANCIAL INCLUSION

The Role of Financial Technology (FinTech) in Advancing Financial Inclusion and Equity.

View research history
YearShare index
2022535.2
2023588.5
2024650.5
20251023.2
Blockchain Payment SolutionsOpportunities · 04

Blockchain Payment Solutions

756 papers

12.6% of this theme group

Papers present secure, decentralized architectures for modern digital payment infrastructures.

Payment (623) · Payment system (247) · Database transaction (146) · Payment service provider (64)

Blockchain Based Architecture and Solution for Secure Digital Payment System

Measuring payment system development

View research history
YearShare index
2022733.2
2023686.3
2024781.6
2025930.9
Mobile Payment Service InnovationOpportunities · 05

Mobile Payment Service Innovation

723 papers

12.1% of this theme group

Research highlights value‑added features and security enhancements that drive consumer adoption.

Mobile payment (555) · Payment (363) · Mobile banking (87) · Mobile device (52)

Value Added Services and Adoption of Mobile Payments

Exploring Transaction Security on Consumers’ Willingness to Use Mobile Payment by Using the Technology Acceptance Model

View research history
YearShare index
2022633.6
2023610.5
2024762.5
2025878.6
Algorithmic Trading ForecastingOpportunities · 06

Algorithmic Trading Forecasting

661 papers

11.0% of this theme group

Studies develop AI‑driven strategies for predicting market movements and optimizing trade execution.

Algorithmic trading (282) · Trading strategy (267) · High-frequency trading (109) · Pairs trade (68)

Algorithmic Trading and Financial Forecasting Using Advanced Artificial Intelligence Methodologies

Foreign exchange trading

View research history
YearShare index
202232.4
202331.8
202425.0
202538.8
Credit Scoring EnhancementsOpportunities · 07

Credit Scoring Enhancements

319 papers

5.3% of this theme group

Works apply machine‑learning techniques to improve default prediction and loan risk assessment.

Credit risk (96) · Loan (65) · Credit score (19) · Probability of default (13)

Application Analysis of Credit Scoring of Financial Institutions Based on Machine Learning Model

Development Of Credit Scoring Model For Borrowers Using Machine Learning Techniques

View research history
YearShare index
2022254.2
2023254.9
2024182.2
2025261.3

How this field compares with the research baseline

Orientation shares compared with 25,000 papers in the reference sample.

Research orientationThis fieldReference sample
Promising32.2%36.9%
Descriptive25.3%17.8%
Problem-identifying22.7%9.8%
Cautionary10.2%4.5%
Breakthrough5.5%26.3%
Comparative3.0%3.7%
Critical1.1%0.9%

Concerns receiving less research attention

Counts and shares refer to the stated research pool. A low count describes how much of that research is recorded here, not the absence of a real-world concern.

Concern / example paperPapersShareRaised as a problemWorldwide share
Privacy & surveillanceIncentives for Mobile Crowd Sensing: A Survey2,7174.6%857 (31.5%)4.6%
Concentration of compute powerRent Seeking by Low-Latency Traders: Evidence from Trading on Macroeconomic Announcements1020.17%50 (49.0%)0.17%
Bias & fairnessSocietal bias reinforcement through machine learning: a credit scoring perspective830.14%31 (37.3%)0.14%
Labour & data workMobile Money Taxation and Informal Workers: Evidence from Ghana’s E-Levy600.1%26 (43.3%)0.1%
Safety & misuseThe EU Response to Criminal Misuse of Cryptocurrencies: The Young, already Outdated 5th Anti-Money Laundering Directive500.08%21 (42.0%)0.08%
Energy & datacenter footprintAn integrated model of financial technology adoption and environmental performance: The role of green innovation290.05%5 (17.2%)0.05%
Hardware, e-waste & supply chainMobile Phone Repair as a Strategy for Reducing E-Waste, Enhancing Data Privacy, and Promoting Digital Sustainability in 30.01%0 (0.0%)0.01%
Carbon & emissions of computeRethinking portfolio design with sustainable AI and FinTech: dynamic spillovers in a quantile–frequency framework10.0%0 (0.0%)0.0%
Water use00.0%0 (%)0.0%

Institution and researcher rankings use citations to their covered work. Research scope: worldwide. This may be broader than the company geography.

UNDERSTAND THE LANDSCAPE

Fintech in Toronto: key questions

Clear definitions for making better comparisons.

What does this landscape measure?

It measures the tracked company ecosystem, recorded funding, hiring and other available evidence. It is not a market-size estimate.

Can segment counts be added together?

No. A company can belong to several segments, so segment counts and funding can overlap.

What does a missing figure mean?

A dash or unavailable panel means the current reviewed source snapshot does not support that figure.

KEEP EXPLORING

Put Toronto in context

All landscapes ↗

Company ecosystem snapshot: 1 September 2026. Funding is recorded in USD; filed accounts retain their stated currency and reporting basis. Each section identifies its own coverage. The news and research behind these sections is explorable in Prism.

Canonical landscape ↗
Coming soon