Fintech Cadence announces financial support from Canada Economic Development for Quebec Regions dedicated to entrepreneurs in the Montreal financial technology community.

This non-refundable contribution of $400,000 will be used to expand the Fintech Hub and support 125 entrepreneurs and startups.

MONTREAL, April 5, 2022 /CNW/ - Non-profit fintech incubator and ecosystem development organization Fintech Cadence has received a $400,000 Canadian Economic Development for Quebec Regions (CED) grant to extend the reach and scope of the Fintech Hub, one of their flagship programs. This program focuses on helping early-stage startups and founders from across Canada, with a focus in the Quebec region, to develop core knowledge, connect to peers and access industry leaders to build, grow and scale their solutions.

The Fintech Hub will serve pre-Series A startups that are using technology to build a more accessible, dynamic and diverse financial products and services landscape in Canada. Applications for the rolling admission program are now open.

The expanded program will enhance the Montreal-based organization's ability to provide high quality, customizable programming that is easily scaled. The soft-touch "choose your own adventure" approach of the no-fee, no-equity program will allow them to serve 100+ high potential early-stage startups or founders each year. Enrolled startups get access to monthly business fundamentals workshops and office hours from program partners, peer-to-peer learning opportunities, lunch & learns from successful Canadian startups, and free service provider credits. The model allows startups to access relevant support they need when they need it. All elements of the program are completely virtual and operate on a rolling enrollment basis.

The grant recognizes the growing strength of the Quebec fintech ecosystem, and the importance of a solid pipeline of support. In particular, Fintech Cadence hopes the program can help lower barriers of entry for founders from under-represented groups.

"Financial technologies, a fast-developing sector of innovation, play a key role in the Quebec and Canadian economy. By supporting Fintech Cadence and its Hub, our government is fostering the launch of start-ups in optimal conditions, giving them access, among other things, to mentoring and technical assistance to structure their operations. With this support, we are demonstrating our commitment to prepare our economy to recover and our position on the international scene."

The Honourable Pascale St-Onge, Member of Parliament for Brome–Missisquoi, Minister Sport and Minister responsible for CED

"At Fintech Cadence, we believe Quebec has all the elements for a world-class fintech ecosystem," says Fintech Cadence Executive Director Layial El-hadi. "The Fintech Hub will help the market realize its full potential by offering inclusive, accessible, and top-tier support to ambitious and talented fintech founders. We are incredibly excited to announce the Fintech Hub and can't wait to see more and more Quebecois and Canadian founders flourish."

SOURCE Fintech Cadence

Molly Willats, Head of programming and communications, E. [email protected]