On Tuesday, fintech Quovo announced it is officially expanding into Canada with partial support by an investment from its partners at Portag3 Ventures. This news comes less than a month after Quovo rolled out new products to improve its lending value chain. While sharing details about the expansion, Lowell Putnam, CEO and Co-Founder of Quovo, stated:
“Canada holds immense growth potential for Quovo and we’re excited to replicate our US success in the Canadian market, which is home to a thriving fintech ecosystem and financial institutions hungry to adopt innovative technologies. The decision to raise funding from Portag3 was about much more than capital. Portag3 is well connected in the Canadian financial services industry and is helping us to hit the ground running as we work to establish ourselves in the market.”
Quovo reported that with the expansion it is partnering with Canadian fintech companies and incumbent institutions alike to provide enhanced account connectivity and to enable Canadians to make healthier financial decisions. Adam Felesky, President of Portag3 Ventures, commented:
“The Canadian market holds tremendous promise for aggregation and we believe Quovo is the global market leader. We are excited to be their partner as they expand into markets outside the United States.”
Brad Joudrie, Director of Quovo in Canada, added:
“While we’ve already expanded our Canadian institutional coverage and updated our data model to include Canadian financial account types, our expansion into Canada isn’t just about product localization—we’re fully committed to building a sustainable business to support the country’s growing financial services sector. The investment from Portag3 will enable us to build out a regional team, deliver on Canadian consumer requirements, and fuel innovation in Canadian financial services.”