Montreal has 187 active fintech companies and raised a record $161M in 2025. These 14 investors are actively writing checks into Quebec fintech deals right now.
Montreal's fintech scene has two layers. The first is the institutional infrastructure - Finance Montréal, Desjardins, National Bank, Sun Life - financial institutions with the appetite and mandate to back fintech innovation. The second is a growing VC ecosystem anchored by Luge Capital and Portage, both Quebec-based funds dedicated to financial services technology.
That combination gives Montreal fintech founders a structural advantage over other Canadian cities. You can raise from specialist fintech funds and institutional co-investors in the same ecosystem. You don't need to convince a generalist VC that fintech is worth their time.
Quebec fintechs raised $161.3M across 14 funding rounds in 2025 - a record. Payments, regtech, insurtech, and ESG fintech attracted the most capital. As Canada's stablecoin framework takes shape in 2026, digital asset fintech is getting more investor attention.
Before you pitch any of these 14 fintech investors, build an Ellty data room with your pitch, financial model, and compliance documentation. Send a unique trackable link per fund. Fintech investors often review regulatory materials before your product slides.
| Stage | Check size | Sector focus | Contact | |
|---|---|---|---|---|
| Luge Capital | Seed, Series A | $500K-$5M | Payments, lending, insurance AI | luge.vc |
| Portage Ventures | Seed, Series A, B | $2M-$20M | Fintech, wealthtech, insurtech | portageinvest.com |
| Panache Ventures | Pre-seed, Seed | Up to $1.5M | Fintech, AI, enterprise SaaS | panache.vc |
| Inovia Capital | Seed to late stage | $1M-$10M | Fintech, SaaS, AI, consumer | inovia.vc |
| White Star Capital | Seed, Series A, B | $500K-$5M | Fintech, consumer, marketplace | whitestarcapital.com |
| Real Ventures | Pre-seed, Seed | $250K-$2M | Fintech, SaaS, enterprise | realventures.com |
| Investissement Québec | Seed to growth | $1M-$25M+ | Quebec fintech, all sectors | investquebec.com |
| Fonds de solidarité FTQ | Seed to growth | $500K-$5M | Quebec fintech, all sectors | fondsftq.com |
| Desjardins Capital | Seed to growth | $500K-$5M | Quebec fintech, financial services | desjardins.com |
| BDC Capital | Seed, Series A | $500K-$5M | Canadian fintech, tech | bdc.ca |
| Anges Québec | Pre-seed, Seed | $50K-$500K | Quebec fintech, tech | angesquebec.com |
| CDPQ | Growth, late stage | $10M+ | Fintech scale-ups, wealthtech | cdpq.com |
| Kli Capital | Pre-seed, Seed | Up to $1.5M | Fintech, SaaS, consumer | klicapital.vc |
| Export Development Canada | Series A, B | $5M-$50M+ | Fintech, export-ready companies | edc.ca |
Know who reviews your fintech pitch
Upload your deck to Ellty and track which investors open your compliance docs and spend time on your financial model.
Start free 14-day trialWhat is a Montreal fintech investor?
A Montreal fintech investor backs companies building payments infrastructure, lending platforms, insurance technology, regtech, and wealthtech. The city has two dedicated fintech funds - Luge Capital and Portage - plus a network of generalist VCs and institutional co-investors that actively review fintech deals.
What makes Montreal different is the concentration of financial institutions willing to co-invest. Luge Capital is backed by Desjardins, National Bank, and Sun Life. Portage grew out of Power Corporation. That institutional backing gives portfolio companies direct pathways to enterprise customers - not just capital.
Fintech investors in 2026 are focused on regulated businesses with clear compliance paths. If you're building in payments, lending, or insurance, you need a regulatory strategy before your first serious investor meeting. "We'll figure out licensing after we raise" doesn't work with fintech VCs.
For broader context on Quebec investing, see Quebec investors. Read what investors look for in a data room before any fintech investor meeting.
Montreal is rare in fintech investing because the institutional infrastructure and the startup capital actually talk to each other. That's not common in most cities.
14 Montreal fintech investors
1. Luge Capital
Montreal's only dedicated fintech fund. Luge is backed by Desjardins, National Bank, BDC Capital, and Sun Life - meaning portfolio companies get direct relationships with major financial institutions alongside capital. Luge writes $500K to $5M checks in payments, lending, insurance AI, and financial infrastructure. Latest deals: Velix (CA$2M pre-seed, February 2026) and Cybrid (US$10M Series A, October 2025). For Montreal fintech founders, this is your first call before any generalist VC.
- Recent Deals: Velix CA$2M pre-seed (February 2026); Cybrid US$10M Series A (October 2025); ProNavigator acquired by Guidewire (November 2025); CA$100M Fund II target; active Montreal fintech deal flow
- LinkedIn: Luge Capital LinkedIn
- Sector Focus: Payments, lending, insurance AI, regtech, financial infrastructure
- Stage Focus: Seed, Series A
- Location: Montreal, QC
- Website: luge.vc
2. Portage Ventures
Power Corporation's fintech investment platform with US$5.7B+ AUM. Portage backed Wealthsimple, Dialogue, and Marshmallow - some of the most successful fintech companies in Canadian history. In January 2026, Portage finalized a US$280M continuation vehicle to manage Point72 Ventures' fintech portfolio, adding 73 portfolio companies. For Montreal fintech founders at Series A and beyond, Portage has the deepest financial services network of any fund on this list.
- Recent Deals: US$280M continuation vehicle from Point72 Ventures (January 2026); KidKare (January 2026); 17 investments in 2025; 73 portfolio companies; US$5.7B+ AUM
- LinkedIn: Portage Ventures LinkedIn
- Sector Focus: Fintech, wealthtech, insurtech, financial services infrastructure
- Stage Focus: Seed, Series A, B
- Location: Montreal, QC (global offices)
- Website: portageinvest.com
3. Panache Ventures
Canada's most active pre-seed fund has backed fintech founders at pre-revenue stage. Panache writes checks up to $1.5M and leads. They back fintech founders with clear regulatory awareness and a defined distribution strategy. For Montreal fintech founders at pre-revenue with strong domain expertise - ex-banking, ex-insurance, or ex-regulator backgrounds - Panache is worth approaching before any institutional VC.
- Recent Deals: Nord Quantique (Q1 2026); Soma Energy (April 2026); 5 investments in 2026; active Montreal fintech deal flow; 40+ Fund II companies
- LinkedIn: Panache Ventures LinkedIn
- Sector Focus: Fintech, AI for financial services, enterprise SaaS, deep tech
- Stage Focus: Pre-seed, Seed
- Location: Montreal, QC (offices in 4 cities)
- Website: panache.vc
4. Inovia Capital
Montreal's leading full-stack VC has backed fintech companies including Hopper and has a deep fintech portfolio. Inovia writes $1M to $10M checks and follows companies through multiple rounds. They backed Luge Capital as an LP through their emerging managers program. For Montreal fintech founders at $300K+ ARR with a clear B2B or consumer model, Inovia is worth approaching for their local presence and follow-on track record.
- Recent Deals: Toyo (2026); Flare follow-on (2026); Vessel $10.3M (2025); 15 investments in 2025; US$2.2B+ AUM; active fintech and consumer portfolio
- LinkedIn: Inovia Capital LinkedIn
- Sector Focus: Fintech, SaaS, AI, consumer tech, enterprise
- Stage Focus: Seed to late stage
- Location: Montreal, QC (global offices)
- Website: inovia.vc
5. White Star Capital
Montreal-headquartered global VC with fintech as a core thesis. White Star has backed fintech companies across Canada, Europe, and Asia. Their North American Seed Fund ($25M first close, September 2025) covers fintech in its mandate. For Montreal fintech founders with $300K+ ARR and global ambitions, White Star offers local presence with genuine international co-investor access.
- Recent Deals: Trayd (2026); Kulipa follow-on (2026); North American Seed Fund $25M first close (September 2025); 15 investments in 2025; active fintech portfolio
- LinkedIn: White Star Capital LinkedIn
- Sector Focus: Fintech, consumer, marketplace, enterprise, AI
- Stage Focus: Seed, Series A, B
- Location: Montreal, QC (global offices)
- Website: whitestarcapital.com
Share your fintech deck with trackable links
Set up an Ellty data room with your compliance documentation and financial model before any investor call.
Start free 14-day trial6. Real Ventures
Montreal's foundational early-stage fund has backed fintech founders through FounderFuel and direct investments. Real backs technical founders at pre-revenue stage. For fintech founders building infrastructure or B2B SaaS for financial institutions, Real is worth approaching - especially via FounderFuel, which gives you direct access to Inovia and Panache as follow-on investors.
- Recent Deals: Active FounderFuel cohorts 2025-2026; 100+ portfolio companies; $600M+ raised since inception; active Montreal fintech deal flow
- LinkedIn: Real Ventures LinkedIn
- Sector Focus: Fintech, SaaS, enterprise, AI, consumer
- Stage Focus: Pre-seed, Seed
- Location: Montreal, QC
- Website: realventures.com
7. Investissement Québec
Quebec's provincial investment arm co-invests in fintech companies with Quebec operations. IQ writes $1M to $25M+ checks and has an explicit fintech mandate. For fintech founders at Series A+ with Quebec incorporation and local jobs created, IQ is a reliable co-investor that follows private leads and adds 4-6 weeks to close.
- Recent Deals: Vention $150M CAD Series D lead (2025); active Quebec fintech equity and loan programs; "I Adopt Quebec's Tech" fintech initiative; Finance Montréal partnership
- LinkedIn: Investissement Québec LinkedIn
- Sector Focus: Quebec fintech, all sectors
- Stage Focus: Seed to growth
- Location: Montreal, QC
- Website: investquebec.com
8. Fonds de solidarité FTQ
Quebec's $23B+ labor-sponsored fund co-invests in fintech companies alongside private VCs. Fonds FTQ deployed $241M in 172 Quebec businesses in 2025-2026 and has an active fintech mandate. For fintech founders with Quebec operations, add Fonds FTQ to your co-investor list once a private lead is confirmed.
- Recent Deals: $241M deployed in 172 Quebec businesses (2025-2026); Jolt Capital partnership (2025); $23B+ net assets; active Quebec fintech co-investment
- LinkedIn: Fonds de solidarité FTQ LinkedIn
- Sector Focus: Quebec fintech, all sectors
- Stage Focus: Seed to growth
- Location: Montreal, QC
- Website: fondsftq.com
9. Desjardins Capital
Quebec's cooperative financial institution is both an LP in Luge Capital and a direct investor in fintech companies. Desjardins has deep relationships with Quebec's credit union and cooperative banking network. For fintech founders building for the cooperative financial sector - credit unions, mutual insurance, agricultural finance - Desjardins is the most strategically relevant investor on this list.
- Recent Deals: Luge Capital Fund II LP; Vention $150M CAD co-investor (2025); new investment model launched January 2026; Quebec fintech network access
- LinkedIn: Desjardins Capital LinkedIn
- Sector Focus: Quebec fintech, financial services, all industries
- Stage Focus: Seed to growth
- Location: Montreal, QC
- Website: desjardins.com
10. BDC Capital
Canada's national co-investor backs fintech companies across every stage. BDC is a Luge Capital Fund II LP and co-invests in Canadian fintech deals. They don't lead rounds but move quickly once a private VC sets terms. Use Ellty to send BDC a data room link simultaneously with your private lead outreach.
- Recent Deals: Luge Capital Fund II LP; $150M Life Sciences fund launch (April 2026); 384+ total investments; active Canadian fintech co-investment mandate
- LinkedIn: BDC Capital LinkedIn
- Sector Focus: Canadian fintech, tech, all sectors
- Stage Focus: Seed, Series A
- Location: Montreal, QC (national mandate)
- Website: bdc.ca
11. Anges Québec
Canada's largest angel network with 230+ members includes former banking and insurance executives. Some members have direct fintech investment experience. For Quebec fintech founders raising $100K-$500K before approaching institutional VCs, Anges Québec's structured pitch process and financial services network is worth the time.
- Recent Deals: EmergConnect $1.75M seed (2025); 3 investments in 2025; 230+ members; active Quebec fintech and tech deal flow
- LinkedIn: Anges Québec LinkedIn
- Sector Focus: Quebec fintech, tech, all sectors
- Stage Focus: Pre-seed, Seed
- Location: Montreal, QC
- Website: angesquebec.com
12. CDPQ
Quebec's $400B+ pension fund backs late-stage fintech and wealthtech companies. CDPQ is a Portage Ventures LP and has direct fintech investments. They write $10M+ checks and don't do seed. For Montreal fintech founders at Series B+ with $5M+ ARR and a clear path to financial infrastructure scale, CDPQ is worth approaching through a warm intro from Portage or Luge.
- Recent Deals: Portage Ventures LP; active Quebec fintech and wealthtech growth investments 2025-2026; $400B+ AUM; strategic Quebec technology mandate
- LinkedIn: CDPQ LinkedIn
- Sector Focus: Fintech scale-ups, wealthtech, Quebec technology, growth stage
- Stage Focus: Growth, late stage
- Location: Montreal, QC
- Website: cdpq.com
13. Kli Capital
Montreal-New York VC with a $50M Fund III covering fintech, SaaS, and consumer tech. Kli writes checks up to $1.5M and leads at pre-seed and seed. Latest investments were Brickroad and Result Flow AI (both February 2026). For Montreal fintech SaaS founders with early traction, Kli moves faster than most funds and is worth approaching.
- Recent Deals: Result Flow AI (seed, February 2026); Brickroad (seed, February 2026); Velix lead investor; 52+ total investments; $50M Fund III active
- LinkedIn: Kli Capital LinkedIn
- Sector Focus: Fintech, SaaS, consumer tech, AI, healthtech
- Stage Focus: Pre-seed, Seed
- Location: Montreal, QC / New York, NY
- Website: klicapital.vc
14. Export Development Canada
Canada's export credit agency writes equity checks alongside debt instruments and is underused by fintech founders. EDC backs fintech companies with clear cross-border expansion plans - particularly into US and European markets. For Montreal fintech founders at Series A+ planning US market entry, EDC provides capital and government-backed credibility with international enterprise customers.
- Recent Deals: Novarc $50M Series B lead (March 2025); active co-investment across Canadian fintech companies with export potential; equity and debt instruments
- LinkedIn: Export Development Canada LinkedIn
- Sector Focus: Export-ready fintech, payments infrastructure, financial technology with international potential
- Stage Focus: Series A, B
- Location: Ottawa, ON (active Montreal deal flow)
- Website: edc.ca
What Montreal fintech investors check first
Fintech investors check your regulatory position before anything else. Do you have the licenses you need? Do you understand which licenses you'll need as you scale? What's your compliance cost structure? These questions come before product-market fit.
Unit economics are the second filter. Fintech CAC is often higher than other sectors due to regulatory and trust-building costs. Montreal fintech investors want LTV:CAC above 3:1 and a clear path to payback within 18 months. Some don't fund until you've proven this ratio.
Build your Ellty data room with your compliance documentation, financial model, and customer acquisition data before any investor meeting. Luge and Portage will review your regulatory materials before your product deck. Read what investors look for in a data room for exactly what fintech VCs expect.
How to get institutional co-investment in your Quebec fintech round
Quebec's institutional infrastructure is a structural advantage for fintech founders. BDC, Desjardins, Fonds FTQ, and Investissement Québec can all co-invest on similar terms after a private VC leads. That means you can build a $5M seed round with $2M from Luge or Panache and $3M from institutional co-investors.
The sequencing matters. Get Luge or Panache to lead first. Then approach IQ, Fonds FTQ, and BDC simultaneously with your term sheet. Each runs parallel diligence and they're familiar with each other's timelines. Build 5-6 weeks into your close for the institutional co-investment layer.
Set up your Ellty data room with Quebec economic impact projections - local jobs, Quebec-based operations, and R&D spend - before you approach public co-investors. IQ and Fonds FTQ specifically ask for these numbers. Read how to organize your data room before any institutional co-investor meeting.
Canada's new stablecoin regime and what it means for fintech founders
Canada's stablecoin regulatory framework is taking shape in 2026. Investors on this list are watching the digital asset fintech space more closely now than they were in 2023. If you're building in stablecoin payments, digital custody, or crypto infrastructure with regulated fintech models, you'll get more meetings than you would have 18 months ago.
Cybrid raised a US$10M Series A in October 2025 for its stablecoin and fiat payment-rails platform - backed by Luge Capital. That's a data point, not a trend, but it signals that Montreal fintech investors are open to regulated digital asset fintech with a real compliance strategy.
Before any digital asset fintech pitch, upload your regulatory framework document to Ellty and send trackable links to your investor shortlist. If a Portage partner reviews your compliance section multiple times, that's signal. Read due diligence for investors to understand what fintech VCs review before writing checks.
How to pitch a Montreal fintech investor
Five steps for Quebec fintech founders raising capital in 2026.
- 1.Lead with your regulatory position, not your productMontreal fintech investors check compliance first. Know your licenses, what you need next, and your compliance cost.
- 2.Show LTV:CAC above 3:1 before any Series A meetingFintech CAC is high. Prove your payback period under 18 months with real customer data before approaching Luge or Portage.
- 3.Build a data room with compliance docs and financial modelUpload your regulatory materials, financial model, and KPIs to Ellty. Fintech VCs review compliance before product slides.
- 4.Approach Luge or Panache for a private lead firstGet a private VC to lead and set terms. Then approach IQ, Fonds FTQ, and BDC as co-investors on similar terms.
- 5.Prepare Quebec economic impact data for public co-investorsIQ and Fonds FTQ require local jobs and R&D data. Have those projections ready before your first public fund call.
How Ellty helps you land a Montreal fintech investor
You know the 14 investors. Here's how to share your compliance docs and financial model without giving up control.
- 1.Build your fintech data room with compliance docsCreate an Ellty data room and upload your pitch, compliance documentation, and financial model. Fintech investors request regulatory materials within 24 hours of any promising first call.
- 2.Set permissions before sharing sensitive financial dataRequire email verification before investors access your customer acquisition data or financial model. Screenshot protection keeps your CAC and LTV data confidential.
- 3.See which investors review your compliance sectionKnow which fintech VCs open your data room and which documents they review first. If a Portage partner reads your regulatory framework twice, follow up on compliance specifically.
Questions fintech founders ask before raising
- Luge writes $500K-$5M checks at seed and Series A with direct connections to Canadian financial institutions. Portage writes $2M-$20M at Series A and beyond with a global fintech network and US$5.7B AUM.
- Luge, Portage, Inovia, and Panache don't require Quebec incorporation. Investissement Québec, Fonds FTQ, and Desjardins specifically require Quebec operations and local job creation data.
- After you have a private VC committed to lead. Approach IQ, Fonds FTQ, and BDC simultaneously with your term sheet. Add 5-6 weeks to your close timeline for the institutional co-investment layer.
- Your current licenses, a clear map of licenses needed to scale, your compliance cost model, and any regulatory correspondence. Upload to Ellty and share with a trackable link so you see which investors review it.
- Luge backed Cybrid's US$10M Series A for stablecoin infrastructure in October 2025. As Canada's stablecoin regime develops in 2026, regulated digital asset fintech with clear compliance strategy is getting more investor attention.
- Start with 6-8 investors from this list. Use Ellty to send separate trackable links and monitor who opens your compliance and financial documents. Prioritize investors who review both sections.
