Canada’s fintech landscape is evolving—and fast. At the forefront of this transformation is the IFH Lab Paytech Accelerator, a bold initiative designed to support early-stage fintech innovators who are committed to building a more inclusive and resilient financial system. Launched in partnership with Desjardins, the six-month accelerator runs from May to November, 2022, and is an intensive, equity-free program tailored to support mission-driven founders who are harnessing technology to improve the financial health of Canadians.
Unlike traditional accelerators, the IFH Lab Paytech Accelerator meets founders where they are. Its flexible and founder-friendly format is designed to accommodate the evolving needs and schedules of early-stage start-up teams. Participants gain access to a wealth of resources including expert mentorship, business fundamentals training, software credits, and entry into a vibrant, values-aligned entrepreneurship network. This year, that support includes direct guidance from Venture Catalyst, LLC, a leading advisory firm which supports emerging fund managers and entrepreneur support organizations in the impact investing space.
The accelerator’s 2022 cohort is focused on a pressing challenge: how can fintech start-ups and financial institutions collaborate to build fast, secure payment solutions that genuinely support Canadians’ financial well-being? The selected start-ups are not only developing technological solutions to this question—they’re reimagining what the financial system can be.
To qualify for the program, start-ups must already demonstrate early signs of traction: a validated product, a minimum of one full-time team member, and incorporation in Canada (or plans to incorporate by the end of the program). They must also commit to full participation in program sessions and align with the mission of improving financial outcomes for everyday Canadians.
This year’s cohort features 16 innovative companies from across British Columbia, Ontario, and Québec. Of these, three standout start-ups will receive a $15,000 grant and an invitation to join the Ser accelerator, where they’ll be considered for follow-on investment of up to $250,000.
The energy at the program kickoff, held on May 26th at the Centre for Social Innovation in Toronto, was palpable. Among the many supporters in attendance was Adaora Ogbue, Founder & Principal of Venture Catalyst, LLC. Reflecting on the evening, she shared: “After meeting the founders of some of the companies in the cohort, I came away with a real sense of enthusiasm and optimism that these creative entrepreneurs are driven to fix the barriers to financial freedom for Canadians, especially those whose needs have been overlooked by the traditional financial system.”
She added, “I’m thrilled to serve as a mentor for these visionary founding teams. I look forward to seeing the solutions they build and the impact they’ll have.”
The IFH Lab Paytech Accelerator is more than a program—it’s a signal that the future of Canadian fintech is bright. By investing in inclusive innovation and empowering the next generation of paytech pioneers, this initiative is laying the groundwork for a financial ecosystem that truly works for everyone. As these early-stage founders build bold, tech-driven solutions, one thing is clear: the best is yet to come.