INSUBCONTINENT EXCLUSIVE:
There are 831 financial technology startups headquartered in or operating in Canada, according to data collected by Fintech Growth
Syndicate, yet only a handful of venture capital funds specializing in the region and sector.Luge Capital, a fintech and AI-focused venture
capital fund headquartered in Montreal and Toronto, is looking to close that gap
The firm has raised $85 million for its debut fund and plans to make seed investments as small as $150,000 and as large as $2 million.The
relatively new outfit, founded in 2018, is led by David Nault, a former vice president at iNovia Capital, and Karim Gillani, who previously
led corporate development for Xoom, the PayPal -acquired remittances startup.Luge Capital is backed by iA Financial Group, BDC Capital,
In a somewhat unusual series of events, some of the limited partners approached Nault and Gillani and said if they raised a fund, they would
Capital has to date made five investments, three of which they were able to disclose
that supports financial institutions with customer onboarding, fraud detection and more; and insurance technology company Finaeo.According
