Financial technology is changing the way Canadians bank, invest, borrow, and make payments. While the sector has experienced plenty of volatility over the past few years, many of Canada’s strongest fintech-related businesses are emerging with healthier balance sheets, improving profitability, and expanding digital platforms.
Rather than focusing solely on speculative startups, this list highlights five established Canadian companies that offer meaningful exposure to fintech and digital finance. Whether through online banking, payment processing, AI-powered lending, or wealth management technology, these companies are well-positioned to benefit from long-term industry trends.
#5. Propel Holdings Inc. (TSX: PRL)
Approximate Share Price: ~$24
Approximate Market Capitalization: ~$974 million
Sector: Consumer Finance / AI Lending
Why It’s On This List
Propel Holdings has become one of Canada’s fastest-growing fintech companies by leveraging artificial intelligence to improve lending decisions for underserved consumers. As interest rates continue to decline and borrowing activity gradually improves, the company remains well positioned to expand both in Canada and the United States.
Competitive Advantage
Propel’s proprietary AI-powered underwriting platform analyzes thousands of data points to evaluate borrowers more accurately than many traditional lenders. This technology helps reduce credit losses while allowing the company to serve customers that conventional banks often overlook.
Financial Snapshot
The company continues to post strong revenue and earnings growth while generating healthy free cash flow. Management has consistently demonstrated disciplined loan portfolio management alongside expanding profitability.
The Bear Case
Because Propel primarily serves non-prime borrowers, a sharp deterioration in consumer credit quality could increase loan defaults during a weaker economic environment.
#4. goeasy Ltd. (TSX: GSY)
Approximate Share Price: ~$44
Approximate Market Capitalization: ~$690 million
Sector: Consumer Finance / Digital Lending
Why It’s On This List
Goeasy has endured a difficult 2026 as elevated credit losses in its LendCare business, a dividend suspension, and weaker earnings weighed heavily on investor sentiment. However, for long-term investors, the sharp decline has transformed the stock from a market favorite into a potential turnaround opportunity. Management is actively restructuring the business by tightening underwriting standards, reducing exposure to underperforming loan segments, and refocusing on its higher-quality direct-to-consumer lending operations. If credit performance stabilizes over the next several quarters, goeasy could be positioned for a meaningful recovery.
Competitive Advantage
Goeasy is one of Canada’s largest non-prime consumer lenders, serving a market that traditional banks often overlook. Its established digital lending platform, nationwide brand recognition through easyfinancial, and decades of proprietary credit data provide advantages that are difficult for newer fintech competitors to replicate.
Financial Snapshot
The company manages a consumer loan portfolio of approximately $5.36 billion, demonstrating the scale of its lending platform despite recent challenges. While profitability has come under pressure, management has prioritized strengthening the balance sheet and improving credit quality over short-term growth.
The Bear Case
The turnaround is far from guaranteed. Elevated credit losses and continued weakness in the LendCare portfolio remain significant risks, and investors may need patience before earnings fully recover.
#3. EQB Inc. (TSX: EQB)
Approximate Share Price: ~$131
Approximate Market Capitalization: ~$4.6 billion
Sector: Digital Banking
Why It’s On This List
EQB has quietly become one of Canada’s most successful digital banking stories. Through EQ Bank, the company continues attracting deposits while expanding its mortgage and commercial lending businesses. As borrowing activity gradually improves alongside lower interest rates, EQB appears well positioned to continue delivering above-average earnings growth compared to many traditional financial institutions.
Competitive Advantage
Unlike many fintech startups, EQB combines a fully regulated banking platform with a low-cost digital operating model. Its ability to gather deposits directly through EQ Bank provides a durable funding advantage while supporting long-term profitability.
Financial Snapshot
Loan growth remains healthy, return on equity continues to outperform many larger Canadian banks, and management has maintained solid credit quality despite recent economic uncertainty.
The Bear Case
A prolonged slowdown in Canada’s housing market could reduce mortgage growth and pressure future earnings expansion.
#2. Lightspeed Commerce Inc. (TSX: LSPD)
Approximate Share Price: ~$14
Approximate Market Capitalization: ~$1.9 billion
Sector: Commerce Software & Payments
Why It’s On This List
After several difficult years, Lightspeed has successfully shifted its strategy toward profitable growth rather than expansion at any cost. Investors have responded positively as operating margins improve, free cash flow strengthens, and the company’s payments business becomes a larger contributor to overall revenue. Artificial intelligence also represents a meaningful opportunity as Lightspeed continues introducing smarter tools that help merchants manage inventory, customer relationships, and business operations more efficiently.
Competitive Advantage
Lightspeed offers merchants an integrated ecosystem that combines point-of-sale software, payments, inventory management, e-commerce, and analytics within a single platform. This creates high switching costs once businesses become deeply integrated.
Financial Snapshot
Recurring subscription revenue continues growing, gross payment volume remains healthy, and profitability has improved significantly over the past year as management focuses on operational efficiency.
The Bear Case
The company’s growth remains tied to the health of small and medium-sized businesses, particularly within the retail and hospitality sectors.
#1. Power Corporation of Canada (TSX: POW)
Approximate Share Price: ~$86
Approximate Market Capitalization: ~$54 billion
Sector: Financial Services & Wealth Management
Why It’s On This List
Power Corporation earns the top spot because it provides diversified exposure to Canada’s fintech industry while also owning several world-class financial businesses. Through its controlling interest in Wealthsimple and investments managed by Portage Ventures and Diagram, Power has become one of the country’s most influential investors in financial technology. Unlike many pure-play fintech companies, investors also benefit from established businesses such as Great-West Lifeco and IGM Financial, providing stable cash flows that help support long-term growth and an attractive dividend.
Competitive Advantage
Power’s greatest strength is diversification. It combines traditional financial services with meaningful exposure to Canada’s rapidly growing digital finance ecosystem, giving investors access to fintech innovation without relying on a single high-growth company. Its investment portfolio also provides opportunities to participate in emerging financial technology businesses before they become publicly traded.
Financial Snapshot
Power continues generating strong cash flow from its core financial holdings while maintaining a healthy balance sheet and a long history of dividend growth. Wealthsimple continues expanding its client assets, adding another long-term growth engine to the business.
The Bear Case
Much of Power’s fintech exposure comes through private investments, making it more difficult for investors to accurately value those assets compared to publicly traded companies.
Final Thoughts
Canada’s fintech sector extends well beyond startup payment apps. Digital banking, online investing, AI-powered lending, payment processing, and wealth management technology are all reshaping how Canadians interact with financial services. Over the next 12 months, investors should watch for continued interest rate cuts, expanding AI adoption, stronger consumer spending, and further growth in digital financial platforms. Companies with recurring revenue, scalable technology, and disciplined capital allocation are likely to remain the biggest long-term winners.
For Canadian investors seeking a balance of growth and stability, these five TSX-listed companies provide diversified exposure to one of the financial sector’s most promising long-term trends.
