Technology is one of Canada’s biggest and most innovative market sectors. Generating $96 billion in economic value every year1, it represents 5.1% of the overall economy. Within this sector, fintech has become one of the fastest-rising segments. Canada’s fintech market, valued at USD 4.38 billion in 2024, is projected to grow at a 15.7% CAGR through 2033, driven by digital payments, AI-powered financial tools, and embedded-finance adoption.
There are many different sub-sectors within the technology sector. The marriage of technology and financial services has created one of the most important ones. In Canada, fintech is one of the fastest-growing markets
In fact, many Canadian investors have exposure to fintech whether they know it or not, through index ETFs that hold shares of tech companies which are delving into the fintech industry, like Shopify Inc.
So, what is fintech, and why is it such a big part of Canada’s 2026 tech scene? Let’s break it down.
What are fintech stocks?
Fintech is short for ‘financial technology’, and it can refer to any technology that facilitates delivering financial services, like big bank apps, but it usually refers to smaller “disruptive” players in finance. Fintech stocks are the shares of these companies.
Types of fintech companies
There are many kinds of fintech companies that you can invest in. Some of the best-known include:
- Payment companies – These companies help people send, receive, and spend money.
- Crowdfunding companies – Crowdfunding companies help people raise money for personal projects or worthy causes.
- Peer-to-peer lending – These companies allow people to lend money to one another, so they can avoid having to go through a bank.
- Crypto – Companies that allow people to invest in, send, and receive cryptocurrency.
As you can see, fintech covers a broad spectrum of different products and services. There are countless companies around the world that could be described as fintech, and the number grows every day. Your robo-advisor or PayPal account are other examples of fintech services. Even if you’ve never heard the term “fintech” until today, there’s a good chance you’re using at least one or two fintech services.
Top Canadian fintech stocks
Canada is also well known for its internationally respected banking sector, so it should come as no surprise that the country’s tech sector has quite a few fintech companies.
The following are the top five (by market value) that you can buy on the stock market as an individual Canadian investor:
| Fintech Stock | Description |
| Shopify (TSX:SHOP) | E-commerce company with investments in cryptocurrency and other alternative payments. |
| Lightspeed Commerce (TSX:LSPD) | Point-of-sale company that offers a popular payment service. |
| Propel Holdings (TSX:PRL) | Lending platform that helps marginalized communities get access to credit. |
Shopify
Shopify (TSX:SHOP) is a stock that needs no introduction. As Canada’s largest tech company by market cap, it powers millions of merchants worldwide. Its core offering is an e-commerce platform that helps businesses build and run online stores, but Shopify is also a major player in digital payments.
Shopify Payments enables merchants to accept hundreds of payment methods — from credit cards to PayPal to cryptocurrency — and integrates directly into Shopify’s broader commerce ecosystem. This functionality continues to support the platform’s global growth.
Recently, Shopify has leaned into artificial intelligence. Its partnership with OpenAI allows merchants to sell through ChatGPT, driving a sevenfold increase in AI-driven traffic and an elevenfold rise in AI-generated orders since January. While still a small revenue contributor, AI adoption is expected to grow steadily over time.
Shopify is also broadening its product suite across more than 175 countries, expanding B2B capabilities, strengthening offline retail tools, and extending its payments ecosystem internationally. Strategic partnerships with logistics providers are improving delivery speeds and offering more reliable fulfillment options.
With more than 6,045% total returns over the past decade, Shopify has proven its ability to scale. Supported by AI innovation, global expansion, and ongoing operational efficiencies, the company appears well-positioned for continued long-term growth.
Lightspeed Commerce
Lightspeed Commerce (TSX:LSPD) is a Canadian e-commerce company that is now making a big splash in the fintech space. It started off as a retail point-of-sale company (a company that helps businesses manage their purchases and cash registers), but later expanded into other verticals. Today, Lightspeed Commerce is a full-service fintech company, with payment offerings that customers can use both online and in person.
In the third quarter of fiscal year 2025, Lightspeed achieved a 17% year-over-year increase in total revenue, reaching $280.1 million. Gross profit rose by 14% to $115.9 million, with an overall gross margin of 41%.
Following a comprehensive strategic review, Lightspeed announced a reorganization affecting approximately 200 positions, aiming to optimize for profitable growth. The company is focusing on expanding its presence in North American retail and European hospitality markets and has recently initiated a $400 million share buyback program, signaling confidence in its financial position and future prospects.
Propel Holdings
Propel Holdings (TSX:PRL) is a payment company that helps underserved communities get access to credit. In recent years, poor credit availability in certain communities has become a major concern. Banks have been criticized for refusing to lend to working class people or those from marginalized demographics. The banks themselves have pledged to work on this2, but it remains to be seen whether they will take meaningful action.
Propel has made serving marginalized communities part of its corporate DNA. It offers services like Money Key, an online lender; and Credit Fresh, a platform that partners with banks to get people personal lines of credit.
Services like these aren’t uncommon, but Propel is unique in its focus on serving underserved communities. Institutional investors often like to buy shares in companies perceived as being ethical, and Propel’s focus on the underserved may help with securing it a place in ESG portfolios.
Propel Holdings continues to scale rapidly as one of Canada’s fastest-growing fintech lenders. In its most recent results for Q3 2025, the company delivered another record quarter, generating US$152.1 million in revenue, a 30% increase from the prior year. For the first nine months of 2025, Propel reported US$434.0 million in revenue, up 35% year-over-year, reflecting strong demand across its lending platforms.
Profitability also strengthened meaningfully. Net income rose to US$15.0 million in Q3 2025, up 43% from the same period in 2024, while adjusted net income reached US$16.2 million, a 16% year-over-year increase. Propel’s loan book continues to expand as well, with combined loan and advance balances climbing to US$557.7 million, representing 29% growth versus Q3 2024.
The company also increased its dividend for the ninth consecutive time, now paying C$0.84 annually, underscoring confidence in its cash-flow generation. With accelerating revenue growth, rising profitability, and a larger, higher-quality loan portfolio, Propel remains well-positioned for continued expansion as fintech adoption deepens across North America.
Investing in foreign fintech markets
As a Canadian investor, you may wish to invest in Canadian stocks, but it’s important to remember the opportunities that exist in international markets as well.
Many of the world’s top fintech stocks are on the United States’ exchanges:
- Paypal (NASDAQ:PYPL), a top American fintech company, is considered the world’s leading non-bank payment company. It lets people send and receive payments online quickly and easily. It is widely used by both businesses and individuals, and plays a big role in the global economy.
- Block (NYSE:SQ) is a leading fintech company in the cryptocurrency space. It is well known for its popular Cash App, which lets people send and receive Bitcoin. It also has a convenient physical card reader that turns smartphones into portable payment platforms.
- NU Holdings (NYSE:NU) is a Brazilian financial services company that offers a mix of conventional banking and fintech services. Its flagship company, Nu Bank, is both a normal bank and crypto payment company. For the most part, it offers conventional savings and loans, but it also allows crypto payments. Nu even has plans to launch its own cryptocurrency in the near future.
Are fintech stocks right for you?
Ultimately, whether fintech stocks are right for you depends on your personal risk tolerance and investing needs. Fintech stocks can deliver great returns when the market conditions are favourable to technology companies, but they tend to be more volatile than conventional financials (e.g., banks and insurance companies).
Over the past couple of years, Canadian fintech stocks have experienced a dynamic journey marked by periods of rapid growth and volatility, reflecting broader trends in the global fintech sector. In 2022, fintech stocks initially saw substantial gains, driven by increased digital adoption during the COVID-19 pandemic, as consumers and businesses shifted towards online financial services. This momentum was propelled by innovations in digital banking, payment solutions, and cybersecurity technologies.
However, as economic conditions evolved, Canadian fintech stocks faced some headwinds in 2023, including rising interest rates and heightened regulatory scrutiny. These factors contributed to increased volatility and some corrections in stock valuations. Despite these challenges, the sector continued to attract significant investments, with promising startups emerging and established players expanding their market reach.
By 2024, Canadian fintech stocks displayed signs of recovery and stabilization, underpinned by ongoing technological advancements and sustained demand for digital financial services. Overall, while market conditions have posed challenges, the long-term outlook for Canadian fintech remains optimistic, with continued growth potential driven by innovation and evolving consumer preferences.
Today, there are many interesting buying opportunities in the Canadian fintech industry. In the future, when market conditions become more favourable to technology stocks, many will turn out to have been great buys.