With the virtual wallet becoming more of a reality, the Canadian FinTech stocks on our list seem to have a bright future ahead
SmallCapPower | May 3, 2017: According to KPMG’s FinTech report, ‘The Pulse of Fintech Q4 2016,’ global investment in the FinTech (Financial Technology) space hit $24.7B across a total of 1,076 deals. Tech companies all around the world are racing to replace tellers and revolutionize the financial services industry; from mobile payment technologies to artificial intelligence managing our RRSPs. In fact, BI Intelligence forecasts robo-advisors will manage $8 trillion in global assets by 2020. Having said that, today we have identified five Canadian FinTech stocks that may benefit from this growing market—some have already more than doubled year to date!
Goldmoney Inc. (TSX: XAU) – $3.15
Online Services
Goldmoney Inc., formerly BitGold Inc., is a financial technology company that operates a global, full-reserve and gold-based financial services group. It provides financial services as a limited third-party, combining the attributes of gold with technology. It operates through two segments: Goldmoney and BitGold. Through BitGold, it operates a self-directed gold savings platform and a gold payments network allowing individuals and businesses to make purchases or sales of gold, receive online payments, or transact with online merchants. Through Goldmoney Wealth, it offers precious metals custody and wealth services, trading and execution, card services, tax-free retirement accounts and independent research to high net worth individual investors and institutions.
- Market Cap: $218.2 million
- Total Revenue (LTM): $503.2 million
- Debt to Equity (LTM): 0.0%
- YTD Price Change: -4.0%
Mogo Finance Technology Inc. (TSX: MOGO) – $3.87
Consumer Lending
Mogo Finance Technology Inc. is a Canada-based financial technology company, which is focused on building a digital financial brand, Mogo. The Company’s technology platform provides consumers with access to responsible credit solutions. The Company leverages big data algorithms and the technologies to manage the customer experience. The Company has over 180 thousand Mogo Members and over 1.2 million loans originated. The Company offers liquid installment loan with amounts of approximately $35,000.
- Market Cap: $70.9 million
- Total Revenue (LTM): $49.9 million
- Debt to Equity (LTM): 1,508.9%
- YTD Price Change: 101.6%
First Global Data Ltd. (TSXV: FGD) – $0.68
Investment Holding Companies
First Global Data Limited is a technology company that operates in the payments sector. The Company’s principal activity includes financial technology and remittance of services from Canada and the United States. Its services include consumer-to-consumer money transfer, which are provided under First Global Money brand and Mobile Payments, which are provided under PayQwik brand. Its technology platform stores information provided by various regulatory bodies on suspected money launderers and terrorist financiers. It also provides dynamic foreign exchange (FX) services, whereby the system gathers FE from multiple providers, and presents customers with a rate they would receive when sending monies from one currency to another.
- Market Cap: $134.3 million
- Total Revenue (LTM): $5.3 million
- Debt to Equity (LTM): 0.0%
- YTD Price Change: 151.9%
Subscribe Technologies Inc. (CSE: SAAS) – $0.06
Investment Holding Companies
Subscribe Technologies Inc, formerly Surrey Capital Corp, is a Canada-based financial technology company engaged in the development of mobile application technology. The Company’s application, Mobilman, permits users to access through the cloud-hosted service while in the field utilizing their Internet connected smartphone, tablet or laptop computer.
- Market Cap: $1.5 million
- Total Revenue (LTM): $0.00
- Debt to Equity (LTM): 0.0%
- YTD Price Change: -8.3%
VersaPay Corp. (TSXV: VPY) – $1.35
Business Support Services
VersaPay Corp is a Canada-based financial technology company that provides a cloud-based accounts receivable automation software and integrated payment solutions for businesses. The Company operates through two segments: VersaPay Solutions and Point of Sale Merchant Services (POS). Through its VersaPay Solutions segment, the Company focuses on electronic invoice presentment with its ARC software (ARC) and develops value added payment technologies, such as its PayPort and VersaPay Gateway. Through its POS segment, the Company acts on behalf of financial institutions to provide merchants with the ability to process credit and debit card payments for card-not-present and card-present transactions, including Internet businesses, mail-order/telephone-order merchants and retail point-of-sale merchants in Canada and the United States.
- Market Cap: $41.4 million
- Total Revenue (LTM): $4.9 million
- Debt to Equity (LTM): 1.7%
- YTD Price Change: 12.5%
Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. To read more of this Disclaimer please click on the button below:
