Perhaps Montreal’s best known fintech, Flinks has today announced another $16 million flowing into its coffers. That includes just over $5 million in debt, and and $11 million series A round led by National Bank’s corporate venture capital arm, NAventures, which was also the source of the loan. The round also included participation from Intact Ventures, Luge Capital and Panache Ventures.
“The digitization of financial services is more than just a trend. It’s a profound reshaping of the industry, driven by rapidly changing consumer needs in a global context. Flinks is uniquely positioned to help businesses accelerate their digital transformation,” said Flinks co-founder and CEO, Yves-Gabriel Leboeuf. “This investment from our strategic partners allows us to jumpstart
the next phase of our mission: consolidating our position in our home market and building new innovative data products that will allow us to tackle global demand.”
The funding will be used to help Flinks bring its services to new verticals, such as wealth management, and continue its geographic expansion to establish itself as a market leader in those new geos. By developing and leveraging a powerful, secure data exchange network, Flinks plans to continue to improve the experience of all of its stakeholders.
“NAventures firmly believes in democratizing innovation. That is why we are proud to support Flinks as they continue to establish their vital role in fintech ecosystems, both in Canada and abroad,” said Philippe Daoust, Managing Director of Venture Capital at NAventures. “We see great alignment between Flinks’ mission and our own focus on helping our clients manage their finances by providing them with innovative and reliable digital solutions.”
“We at the Technology and Innovation Banking Group have had the privilege of supporting the growth of local companies for over 20 years now. We are thrilled to see Flinks continue to make
a name for itself and innovate so that even more companies can make the shift to digital. Given the current context, we see that trend only picking up speed,” stated Channt Chea, Senior Director – Technology and Innovation Banking Group at National Bank.