Geographical Diversity in Financial Technology: Canada’s Fastest Growing Fintechs Span Nation

A financial technology firm is Canada’s fastest growing company.

Calgary’s Neo Financial claimed top spot in Report on Business magazine’s annual ranking of Canada’s Top Growing Companies for 2024 thanks to three-year revenue growth of 38,000%.

It’s the sixth annual edition of the list, which spans all sectors across the whole country to find firms with one thing in common: a “penchant for sustained growth.”

Below, we note fintechs who made the top 100 in 2024. They hail from a wide variety of regions, from Calgary and Edmonton in Alberta to Ottawa and Montreal further east. Check them out below.

Neo Financial (Calgary)

Founded in 2019, Neo offers online financial solutions, including high-interest savings accounts, deposit accounts, Mastercard offerings, and mortgage options.

“Our No. 1 ranking on Canada’s Top Growing Companies list is a testament to the hard work of our team and the trust our customers have placed in us,” stated cofounder Jeff Adamson. “This recognition highlights a broader movement in Canada—people want change.”

Float (Toronto)

The all-in-one business finance platform saw revenue growth north of 10,000%, which placed Toronto’s Float in 3rd place in the national ranking.

No surprise to see Float here considering we recently reported that the fintech, which raised capital in 2021, quadrupled revenue in 2023.

Zūm Rails (Montreal)

Montreal’s Zum Rails, an open banking technology platform, debuted on the list in 22nd spot, powered by three-year revenue growth of 1,767%.

The rapidly expanding Canadian fintech recently established a U.S. headquarters in Miami.

Trust Science (Edmonton)

This Edmonton fintech returned to the list following its debut in 2023, ranking 94th.

Founder Evan Chrapko launched Trust Science with a target toward what he calls “Invisible Primes”—the 90 million credit-invisible people living in North America who are left “outside of the modern economy.” Through Credit Bureau+, the firm’s software-as-a-service product, lenders assess customers using data not traditionally considered by incumbent bureaus.

Mindbridge A.I. (Ottawa)

MindBridge leverages AI to optimize financial risk discovery, helping organizations surface potential irregularities.

The fintech grew revenue 414% over three years, ranking 96th.