Investment in Canadian fintech firms down more than 50% in first half of 2022: KPMG

New research from KPMG shows investment in Canadian financial technology companies has dropped by more than 50 per cent in the first half of the year.

The auditing firm says fintech companies in the country garnered US$810 million in investments across 85 deals in the first half of 2022, down from US$1.9 billion in the second half of 2021. 

The firm says the drop was also notable when compared to the same period in 2021, when US$5.4 billion in investment across 108 deals was seen.

However, it warned the first half of 2021 was an outlier because it was considered one of the strongest quarters for investment on record.