The Future of Fintech: A Closer Look at the 2023 Top 12 Startups
From an initial batch of 150 standout applications from startups across Canada, only 25 companies embarked on our intensive six-week workshop series. Now, after careful deliberation from our panel of judges, we’re proud to announce the Top 12 startups, each set to contend for the 2023 Digital Commerce Calgary Fintech Award grand prizes.
With a focus on everything from revolutionizing the housing and renovation industry to streamlining credit applications and optimizing the capital raising process, these finalists are redefining the financial landscape in Calgary and beyond. This year, our horizons expanded to include startups from all corners of Canada. It’s time to spotlight the Top 12 trailblazers competing for over $300,000 in non-dilutive cash.
First up, there's Bidmii. At the heart of this renovation marketplace lies a commitment to secure payment mechanisms for homeowners and contractors. Officially launching in June 2021, the team consists of six dedicated employees. CEO Jon Christensen says, “The collective support from Platform Calgary, DC Bank, and the Digital Commerce Calgary Fintech Award amplifies Bidmii's credibility, visibility, and growth potential. It aligns us with industry leaders, connects us with valuable resources, and positions us as a strong contender in the broader fintech ecosystem.”
Next, there’s Blossom Social Inc. With a community of over 30,000 Canadians, this app is striving to create an inclusive space for sharing portfolios, trades, and investment insights. It's not just a platform; it's a mission to alter the financial trajectory of countless Canadians, as pointed out by its CEO, Maxwell Nicholson. Being selected for the Top 12 is a big deal to Blossom, with Nicholson adding that, “Being among this impressive cohort is inspiring, reminding us of the strength and potential within the Canadian fintech community. This recognition is a testament to our team's dedication and further motivates us to strive alongside such esteemed peers.”
Another finalist, Credit App, has a goal is to redefine the connection between automotive dealerships and lenders, bringing innovation through their credit application platform to an industry calling for change. CEO Evan Ferguson credits the award and associated support as pivotal in driving this change, spotlighting the invaluable role of fostering local innovation.
Diving into the complex world of raising private capital, DealPoint emerges as a beacon for those navigating this intricate journey. DealPoint’s platform digitizes investor onboarding and investment execution, bringing efficiency to the complicated, paper-based fundraising process. As a Calgary-based company, Co-Founder Sandi Gilbert says that helping other entrepreneurs is in Calgary’s DNA, making it a unique place to build a fintech startup.
Turning our attention to the student community, Elev strives to simplify off-campus living experiences. Elev serves both students and landlords, seeking to create a more inclusive housing market. Co-Founder & COO, Jean Bruce Koua, says that Elev's approach to student housing contributes to fostering trust, inclusivity, and community cohesion. Koua notes that the competition offers their team a “unique opportunity to connect with a diverse range of world-class advisors, mentors, judges, and real-life problem solvers.”
In a pioneering move, Expedier is Canada's first Black-led BIPOC focused digital bank. CEO Kingsley Madu offers an intriguing perspective on the richness of diversity in Canada, and thinks Expedier has the potential to shape the future of global finance by helping underbanked immigrants struggling with foreign banking systems by enhancing financial access. Sharing his enthusiasm on making the initial cut and the support the competition offers, Madu says, “The excitement I feel personally is beyond words and a popular saying came to mind shortly after the first announcement. "If you want to go fast, go alone; if you want to go far, go together!"
LenderBidding is the country's only mortgage auction platform, leveraging competition to guarantee optimal rates for borrowers. The unbiased support from Platform Calgary and DC Bank has been a highlight for CEO & Co-Founder, Jason Geall, saying, “Being a startup, you're used to rejection and uphill battles, but to being able to get insight and guidance from experts from a variety of industries is hard to put a price on.”
Padder champions a change in the rental market, aiming to help landlords manage and grow their real estate portfolios while their tenants build their credit. Co-Founder, Clare Lam emphasizes the significance of the community the Award offers, “Support from the tech community in Canada means the world to young start-ups like Padder. Platform Calgary, DC Bank and the Digital Commerce Calgary Fintech Awards give us the opportunity to connect with other founders, domain experts, and resources that allow us to build groundbreaking technology.”
Periculum is an African-focused artificial intelligence and machine learning company that builds data analytic software solutions to help African organizations make better decisions. The company is solving access to credit for immigrants and newcomers to Canada by augmenting banks' current credit assessment processes with their AI and ML data analytic software. For CEO Michael Collins, building for social good is a priority, stating, “Our software solutions empower financial institutions to assess the creditworthiness of immigrants, newcomers and international students.”
Propra is navigating the realm of autonomous property management. The potential to focus on growth while technology handles administrative tasks is at the core of Propra's vision. For CEO Al-Karim Khimji, recognition as a finalist underscores their commitment to impact, stating that, “Being named a finalist is exciting because it shows that we are tackling a real problem and approaching that problem with a differentiated solution. It fuels Propra's confidence to continue our focus on a meaningful large-scale impact for all Canadians and soon across the border.”
Quickly Technologies is an "Earned Revenue Access" technology that lets small and medium businesses take control of their working capital by solving credit terms and getting them paid for their verified invoices. CEO Kyle Friedman has high praise for Calgary’s fintech ecosystem, noting that Quickly has already benefited from Calgary’s top-tier talent and robust local banking resources, saying, “Our small yet agile team has achieved remarkable feats and forged a pivotal partnership with ATB, underscoring our capacity for impactful innovation.”
Lastly, Yield Exchange is revolutionizing the GIC marketplace by providing transparency and access to competitive rates. With over 20 Canadian financial institutions on the platform, Yield Exchange has facilitated over $250 million in posted GIC requests. CEO Yvette Wu points out how support from organizations like DC Bank and Platform Calgary help create more value and impact, stating, “With these partnerships, Yield Exchange’s commitment to change will be amplified, giving us the opportunity to continue building a product that is driving value for our customers.”
And there they are – our Top 12 finalists! These finalists for the 2023 Digital Commerce Calgary Fintech Award epitomize not only the future trajectory of Canadian fintech, but also a forward-looking vision poised to reshape the global financial arena.
For these companies, clinching the title of the Digital Commerce Calgary Fintech Award winner goes beyond the honour itself. It signifies a journey marked by unwavering commitment, innovative prowess, and sheer grit. While the competition amplifies their presence in the industry, it also highlights the responsibility these startups shoulder, extending not only to their crew and backers but to the countless individuals they aim to serve.
The competition is not over yet! Be sure to follow along as finalists pitch live on stage this October 4th and compete for the grand prizes!