Flexiti Financial, Kooltra, LemonStand, Planswell, & Payment Rails

Check out the January 2017 edition of the Fintech Five.

PayPal gives people better ways to connect to their money and to each other, helping them safely access and move their money and offering a choice of how they would like to pay or be paid.

The Fintech Five powered by PayPal profiles five of the hottest and most promising financial technology companies across Canada each month. The list is curated by Techvibes editorial staff and reflects who is making waves in our nation’s fintech ecosystem right now.


FintechLogos_v3january04Flexiti Financial is a provider of point-of-sale financing and payment technology for retailers. Their platform allows businesses to offer their customers low or no-interest financing, convert large purchases into monthly or deferred payment plans, and establish a dedicated line of credit by creating a virtual private label card.

Flexiti is currently used in over 1,000 merchant locations across Canada and recently announced the closing of a $5 million investment which includes follow-on funding by Globalive Capital.


FintechLogos_v3january01Kooltra is leveling the playing field in foreign exchange, a $5.4 trillion a day industry dominated by multinationals. Demand for more complex products is driving brokerages, smaller corporations, and individuals to trade larger volumes than ever before. Kooltra’s solution is a secure and scalable platform. Combined with plug-and-play applications on a SaaS model, the platform delivers end-to-end functionality and turnkey implementation.

Kooltra processed $250 billion while running in beta. They currently have customers on three continents, have partnered with industry leaders, and recently closed a round of funding. They are currently hiring and expecting to triple in size in 2017.


FintechLogos_v3january05LemonStand is a refreshingly customizable cloud based eCommerce platform that helps fast growing retail brands create beautiful online stores that stand out from the crowd and sell more.

Completely customize the entire user experience, including the checkout process, or even A/B test different designs. Sell retail, recurring subscriptions and digital products. Offer volume and wholesale pricing to specific customers or groups, and forget about limits on product options and variants. Design, create, and publish content to grow organic website traffic, and educate customers using the built-in content management system. And there’s no transaction fees or penalties for using your payment processor of choice, plus many more features.


FintechLogos_v3january03Using their patent-pending technology, Planswell creates online financial plans that align investing, borrowing and insuring. Nearing the close of their seed round, Planswell has been flooded with Canadians who are starving for unbiased, quality financial advice driving them to join the wait list to create their custom financial plan.

With nearly 30 developers, financial advisors, copywriters, portfolio managers, mortgage brokers, insurance agents and marketing professionals, Planswell has been quietly building their expert financial planning software that will soon launch to all Canadians—starting with the thousands of Canadians that are already waiting in line.

FintechLogos_v3january02Payment Rails is a cloud technology platform that enables businesses to send payments to any individual or company anywhere in the world, in any currency, and to all major payment methods. Through their powerful payout API, businesses can access Payment Rails’ massive global banking and payments network.

Their mission is to simplify cross-border payouts for online marketplaces, share economy, on-demand and crowd-sourcing platforms, ad networks, affiliate platforms, app stores, and crowdfunding platforms with international payout needs. Payment Rails helps startups and SMEs grow by saving them up to 80% on their international transaction costs.

With PayPal‘s 184 million active customer accounts globally and 6.4 million in Canada, we have created an open and secure payments ecosystem that people and businesses choose to securely transact with each other online, in stores and on mobile devices. 

Want to be a part of the next Fintech Five? This list isn’t something you can apply for, but make a splash and you’re certain to get on our radar.