Discover the 2026 Quebec FinTech Report by Finance Montréal and Fathom4sight
Quebec’s fintech ecosystem is no longer measured only by the number of companies it creates. It is now measured by their ability to grow, attract capital and build infrastructure. And that capital, still available, is increasingly going to companies that have proven themselves.
That is the starting point of the 2026 Quebec FinTech Report, produced with Fathom4sight and launched on October 27 at Station Fintech. Surinderjit (Jeet) Kaur Bhatti, Founder and President of Fathom4sight, presented the report’s key findings. Samy Bjaiji, Director, Technological Innovation at Finance Montréal, then moderated a panel with Jeet Bhatti, Damien Charbonneau, Co-Founder and COO of Nesto, and Joshuah Lebacq, Partner at NAventures (National Bank of Canada).
What the report shows
An ecosystem that keeps renewing
That is the number of fintechs headquartered in Quebec. More than 40% of them were founded since 2020.
Highly concentrated capital
Nine companies share this amount. The five largest deals account for about 97% of it.
Growth driven by international expansion
Quebec fintechs employ 112,319 people worldwide. Nearly 9 in 10 new jobs were created outside Quebec.
The challenge is therefore no longer to create companies, but to help them grow. Local financial institutions play a central role in this shift: they are both the ecosystem’s main acquirers and its largest backers of artificial intelligence.
Data from January to July 2026.
The panel: beyond the raise
Following the data presentation, the panel followed the full capital journey: how to attract it, how investors decide where to place their bets and, above all, how to deploy it once the round closes. Three perspectives met: market analysis, the investor’s view and that of a company that has just closed one of the largest fintech rounds in Canada, Nesto’s $302M Series E. Three ideas emerged.
- Prove execution, not just visionInvestors are looking beyond growth at all costs. They want to see real traction, efficiency and a credible path to profitability. The report’s figures confirm it: capital is flowing mainly to companies that are already scaling.
- The day after the raise matters as much as the raiseRaising capital is visible; deploying it well is harder. Technology, AI, talent, acquisitions, expansion: every dollar has to create lasting value. In the report, Nesto describes this approach: redesigning mortgage lending around AI, data and human expertise, rather than digitizing the existing process.
- Venture capital is no longer the only pathStrategic investors, financial institutions, debt financing, partnerships: sources of capital are diversifying. For a fintech, the right partner brings more than money. It opens access to clients, data and credibility with institutions.
Download the report
These highlights are only a preview. In the full report, you will find:
- a profile of Quebec’s 296 fintechs by sector, business model, region and size;
- an analysis of the year’s financings, 8 mergers and acquisitions, 34 partnerships and 9 product launches;
- nine trends to watch, including agentic commerce, stablecoins and tokenization, embedded finance and market consolidation;
- six regulatory themes viewed from both Quebec and Ottawa, including AI, consumer-driven banking and privacy;
- interviews with the leaders of Wealthica and Nesto.
Are you a fintech preparing a round, a financial institution looking for partners or an investor following the sector? This report gives you a shared reading of Quebec’s ecosystem and its trajectory.
Download the reportThank you to Fathom4sight, our panellists and everyone who joined us at Station Fintech.
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