We are proud to present the 2024 edition of the Quebec Fintech Report, produced in collaboration with Fathom4sight. This annual publication provides a comprehensive view of Quebec’s fintech market performance, trends, and strategic developments over the past year.
Key Developments in Quebec’s Fintech Ecosystem in 2024
• Quebec is now home to 275 active fintech companies, with nearly a third launched in the past five years—evidence of a vibrant and evolving ecosystem.
• Employment continues to rise, with 90,578 people employed globally by Quebec-based fintechs and 20,577 in Canada—a 7.1% increase year-over-year.
• The Payments sector remains the largest, followed by Lending and AI & Data, confirming the province’s focus on scalable, data-driven financial technologies.
• The B2B model dominates (57%), reflecting the ecosystem’s strength in providing innovative enterprise solutions.
• Montréal continues to anchor Quebec’s fintech landscape, hosting over 80% of companies in the province.
• In 2024, Quebec fintechs raised $428.4 million CAD across 12 funding rounds, representing 27% of total fintech investment in Canada.
• The year also saw 7 acquisition deals and a wave of new products and services launches in key sectors such as PropTech, open banking, and ESG.
The report also spotlights emerging players reshaping the intersection of fintech and utilities—such as Deck—as well as the growing role of artificial intelligence in asset management with companies like Sofistic.AI, AltIQ, and BIASafe AI.
This report is essential reading for professionals, investors, and innovation leaders who want to stay ahead in Quebec’s fintech sector.
Happy reading!
Read the report
