Several Canadian companies made the latest edition of The Fintech 100, an annual list of the world’s most promising innovators in the financial technology space.
Several financial technology upstarts based in Canada cracked the seventh annual list from market intelligence giant CB Insights, including Arteria AI, Boosted.ai, Brim, Conquest Planning, Micruity, and Relay.
“The 2024 Fintech 100 winners are high-momentum companies shaping the future of financial services,” stated Laura Kennedy, Principal Analyst at CB Insights.
The companies were selected from a pool of 9,000.
“Unsurprisingly, this year’s cohort is deploying AI across a wide variety of solutions,” Kennedy said. “But they’re also diverse in their reach in emerging and developing economies, and focus on everything from fraud prevention to financial inclusion.”
Arteria AI, which made last year’s AI 100 list as well, has seen its platform deployed as documentation infrastructure at some of the world’s largest financial institutions to accelerate documentation and data processes and deliver better experiences to customers while lowering costs and risk.
“We are thrilled to be named as one of the top 100 most innovative fintech companies globally by CB Insights,” said Shelby Austin, cofounder and chief executive of Arteria AI.
“This recognition is particularly meaningful in a year marked by such rapid advancements in AI,” Austin added, “with so many of the companies on this list, including Arteria AI, leveraging or developing GenAI models.”
“This recognition underscores the critical role Arteria AI plays in helping our clients overcome data challenges, enhancing their efficiency and profitability, and highlights the amazing, cutting-edge work of our exceptional data science and AI team,” the CEO continued.
Other fintechs on the list include Toronto’s Boosted.ai, founded in 2017 to provide artificial intelligence tech for investment asset managers such as AI-driven stock picking, and Winnipeg’s Conquest Planning, which focuses on financial planning software for institutions to deliver personalized advice since 2018.
Micruity, established in Toronto in 2018 to create financial infrastructure for retirement income products, also made the list, as did credit-as-a-service platform Brim Financial and Relay, which operates a business banking and money management platform out of Toronto since launching in 2018.