Canada’s venture capital (VC) market crossed the US$1-billion threshold in the fourth quarter for the second time in a row to finish 2019 at an all-time record of US$4.6 billion, according to KPMG Private Enterprise’s quarterly Venture Pulse report, a global analysis of venture funding.
“It is really a testament to the growing maturity of Canada’s venture capital ecosystem,” says Sunil Mistry, partner, KPMG in Canada. “The tech ecosystem in Canada is now more independent and self-sustaining than ever before. I don’t anticipate deal activity slowing down anytime soon.”
Canadian VC investment totalled US$1.17 billion in the fourth quarter, up 30 per cent from the year-earlier period and down 34 per cent from a record high of US$1.77 billion in the third quarter. The number of closed deals were lower at 109, compared to 151 in the previous quarter, but were bigger in size.
The fourth quarter was powered by sizeable deals from 1Password, a Toronto-based password manager, Coveo, a Quebec City-based artificial intelligence startup, and Nuvei, a Montreal-based payment processing company.
“The Coveo funding round highlights the strength of Canada’s AI innovation ecosystem, which has spread well beyond its traditional innovation hubs of Toronto, Vancouver, Montreal, and Waterloo,” says Mr. Mistry. “At a sector level, fintech continues to be a dominant area of interest for investors – both from an investment perspective and from an M&A perspective – in part due to the strength of Canada’s banking and financial services sectors.”
Family offices continue to play a key role in Canada’s VC market, particularly in early-stage deals between US$1 million and US$5 million, he says.
Despite global economic headwinds, trade disputes, and potential uncertainty from this year’s U.S. Presidential election, the outlook for VC investment remains positive. “I don’t see much changing going into at least the first half of this year,” says Mr. Mistry. “A lot of funds already have their next fund monetized. They need to spend the money, and they’re looking to stay away from any volatility in the public markets.”
The U.S. remains the epicenter of VC activity, accounting for more than half of global VC investment in 2019, the report says. As 2020 unfolds, deal activity is expected to remain relatively steady, with areas like artificial intelligence, biotech, and fintech remaining very hot. According to the report, private valuations in the U.S. remain near-unprecedented highs, similar to if not eclipsing those seen during the dot-com era, driven in part by availability of capital.
While there are no signs of activity slowing, U.S. investors are becoming more discerning about where they put their money after mixed results from last year’s debuts of newly public companies. “We’re already starting to see investors pay a lot more scrutiny on the unit economics and business models,” says Mr. Mistry.
Unlike in the U.S., valuations in Canada continue to be competitively priced, which is helping to attract U.S. investment and fuelled later-stage funding. “Investors will keep investing where the economic climate makes the most sense, where the deal sizes are more reasonable, and where the venture ecosystem is reliable, and Canada checks off all of those boxes,” says Mr. Mistry.
SOURCE KPMG LLP
MTrac 2020 – An Improved Platform to Increase Compliance
SAN DIEGO, Jan. 24, 2020 (GLOBE NEWSWIRE) — Global Payout Inc. (OTCPink:GOHE) (“Global” or the “Company”) and its wholly owned subsidiary MTrac Tech Corporation (“MTrac”) are pleased to announce that the beta phase of the system improvements to MTrac 2020 has been completed. The platform was augmented to accommodate the growing demands of the regulatory agencies that oversee the financial industry. The MTrac team plans to have all existing clients converted to the new system within 60 days and new clients to be boarded starting February 1st, 2020. MTrac is proud to maintain its front-runner position as a fully compliant, closed-loop payment service company.
The new platform will include a seamless wallet load feature with QR functionality for redemption. That is, a customer can come to a terminal, type in their phone number and quickly add funds to their wallet without having to go through a multi-step process. The user then gets a print out of a receipt that doubles as their redemption coupon for redeeming their wallet funds in exchange for product. With these updated compliance features, MTrac 2020 will allow more banks to join its network, which benefits MTrac clients by allowing them to use a wider variety of card types to load their wallet.
MTrac will continue to innovate and adapt its program to meet the demands of the market while assuring compliance with regulatory agencies and delivering a scalable solution to its clients.
About Global Payout, Inc. (OTC Pink:GOHE)
Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of comprehensive and customized prepaid payment solutions. From 2014 to 2017 Global focused on identifying new state of the art technologies in a variety of industry sectors and successfully helped launch MoneyTrac Technology Inc. and other companies within the FinTech space. In 2018, Global completed a reverse triangular merger with MoneyTrac Technology Inc. resulting in Global retaining the wholly owned subsidiary, MTrac Tech Corporation. Global’s current focus is continuing to identify new business opportunities while it reorganizes its future business endeavors.
About MTrac Tech Corp.
MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Global Payout, Inc. MTrac is a software technology, sales and marketing, and business development company focused on “high risk” and “high cost” industries. The Company’s flagship product is the MTrac payment platform offering a full-service solution with technology offerings including Payment Platform, Blockchain, Compliance, POS, E-Wallet, Mobile Application and Digital Payment Solutions. We are one network disrupting the status quo. It is MTrac’s creative vision through the use of its innovative technology solution to become the premier service provider offering the “Key to Cashless®.”
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are disclosed on the OTC Markets.com website.
2020 Crypto World Summit “The Future of Security Tokens” to Address Latest Blockchain Developments with Leading Industry Experts
New York, NY, Jan. 23, 2020 (GLOBE NEWSWIRE) — (via Blockchain Wire) Leading experts in the digital money sector will gather at the Crypto World Summit in New York on February 20, 2020 to discuss the latest developments in security token offerings and digital assets, amongst other rising blockchain and alternative financing topics.
The most current SEC laws, rules, regulations, and compliance will be addressed at this 4th International Conference and Workshop streamed live on Fintech World Media.
This premier event features speakers and attendees from a wide range of sectors, attracting a who’s who of the industry. Other top discussions include: The Future of Bitcoin, The Digital Banking Industry, Blockchain and Real Estate, The ETF Cryptocurrency Market, DAO, Ethereum Investment, and Cannabis Banking Solutions.
Additionally, a special workshop will give participants a step-by-step walkthrough for creating a security token and running a security token offering (STO).
Blockchain Wire is the official wire service for Crypto World Summit. Receive 40% discount. Enter promo code “blockchainwire” Register here.
+1 (415) 879-1500
BitPay Taps Simplex to Make BitPay App an All-In-One Solution
Atlanta, Jan. 23, 2020 (GLOBE NEWSWIRE) — BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, today announced a partnership with Simplex, the best-in-class processor of fiat-to-crypto transactions, that gives BitPay app users the ability to buy Bitcoin and other supported cryptocurrencies directly in app with a credit card. Users can now buy cryptocurrency, transfer funds, make purchases, buy gift cards and pay friends around the world all from a single app.
With the addition of Simplex’s credit card purchasing, BitPay aims to improve the overall user experience of the BitPay app. By eliminating the need to navigate a cryptocurrency exchange to fund payments, the company anticipates increased value to users, especially for new users unfamiliar with the space.
BitPay CEO and Co-Founder Stephen Pair said, “Cryptocurrency exchanges can be intimidating for new users. The Simplex integration, however, makes the blockchain payment experience seamless.” Pair added, “Whether converting fiat to crypto to make crypto payments, or converting crypto to fiat to pay with the BitPay card, the BitPay app is an all-in-one solution.”
“A real breakthrough in usability can only be achieved when the leading crypto payment app meets the leader in fiat infrastructure for crypto. We are proud to launch this partnership with BitPay and will work together to add more innovative solutions in the future,” added Nimrod Lehavi, Simplex founder and CEO.
Simplex, an EU licensed fintech company, is the industry choice for providing fraud-free cryptocurrency purchases via credit card. They list among their many clients industry leaders such as Binance, Bithumb, Xapo and Changelly. Their processing services eliminate fraud and ensure regulatory compliance, in part, by using AI technology to analyze each transaction with proprietary machine-learning algorithms. The Tel Aviv-based company was founded in 2014.
Founded in 2011, BitPay pioneered blockchain payment processing with the mission of transforming how businesses and people send, receive, and store money. Its business solutions eliminate transaction fraud, reduce the cost of payment processing, and enable borderless payments in cryptocurrency and fiat, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Visa® Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses. The company has offices in North America, Europe, and South America and has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth. For more information visit bitpay.com.
The BitPay Visa® Prepaid Card is issued by Metropolitan Commercial Bank, member FDIC, pursuant to a license from Visa, U.S.A. Inc. “Metropolitan” and “Metropolitan Commercial Bank” are registered trademarks of Metropolitan Commercial Bank © 2014. Use of the Card is subject to the terms and conditions of the applicable Cardholder Agreement and fee schedule if any.
Jan Jahosky BitPay 407-331-4699 email@example.com Dan Edelstein Simplex +972-545-464-238 firstname.lastname@example.org
Latest News6 months ago
Galaxy Digital Announces Approval of License to Underwrite Registered Public Offerings of Securities
10 months ago
The Green Organic Dutchman Receives Global Awards for New Website
Fintech9 months ago
Ally Financial Partners with Better.com to Create End-to-End Digital Mortgage Experience
Latest News6 months ago
Core Scientific launches the first AIRI-Ready Datacenter
Latest News7 months ago
Chinsay’s Intelligent Contract Platform Enables Rio Tinto & Cargill to Complete the First Fully Digitalised Iron Ore Trade
Fintech5 months ago
Experian A/NZ acquires Australian fintech Look Who’s Charging to bolster open data offering
Fintech7 months ago
PremFina Makes Final Shortlist for Hottest FinTech Startup in Europe in The Europas Awards
Fintech6 months ago
Apex Clearing Releases ‘Millennial 100’ Stock Pulse Report