12 Best Fintech Stocks in Canada for 2026

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Last updated: August 2026

All price data sourced from Yahoo Finance.

Canada’s fintech landscape looks nothing like it did two years ago. Nuvei, once the largest pure-play fintech on the TSX, went private in a US$6.3 billion buyout. Payfare was swallowed by US payments giant Fiserv. Mogo renamed itself Orion Digital. The consolidation wave thinned out the roster of Canadian fintech stocks, and it also proved something important: sophisticated acquirers see real value in this sector, and the companies still standing are stronger for it.

This guide ranks the best fintech stocks in Canada for 2026, leading with the TSX-listed names, then covering the global fintech leaders Canadian investors can buy through any top trading app. Every figure below is current as of August 28, 2026.

Key highlights:

• Shopify, Constellation Software, and Propel Holdings lead our Canadian fintech picks for 2026
• Canada’s pure-play fintech universe shrank through acquisitions in 2024-2025, a sign of how much strategic buyers value the sector
• Propel Holdings pays a 3.89% dividend yield while growing revenue 23.7% year over year (data as of August 28, 2026)
• Global names like Visa, Mastercard, and SoFi remain accessible to Canadians through US-dollar accounts

Comparing the Best Canadian Fintech Stocks in 2026

All data in CAD. Table figures: Source: StockAnalysis, data as of August 28, 2026 — see each pick’s live data block below for current Yahoo Finance figures.

Company	Symbol	Market Cap	P/E (TTM)	Dividend Yield	52-Week Range
Shopify	TSX: SHOP	$275.27B	100.54	None	$129.01 – $253.10
Constellation Software	TSX: CSU	$67.04B	49.14	0.18%	$2,196.00 – $4,634.98
EQB Inc.	TSX: EQB	$5.48B	n/a	1.96%	$83.93 – $150.32
Lightspeed Commerce	TSX: LSPD	$1.94B	n/a	None	$10.80 – $19.25
Propel Holdings	TSX: PRL	$987.47M	12.88	5.30%	$17.24 – $35.28
VersaBank	TSX: VBNK	$912.19M	29.83	0.35%	$14.86 – $34.00

How To Buy Fintech Stocks in Canada

Every stock on this list, TSX or US-listed, is available through a Canadian discount brokerage:

1. Open an account with an online broker such as Questrade® 2. Fund the account (consider a TFSA or RRSP for tax-sheltered growth) 3. Search the ticker (for example, TSX: SHOP or NYSE: V) and place your order 4. Review positions a few times a year rather than trading on headlines

Questrade® offers TSX and US market access with registered and non-registered accounts, and its research tools make it straightforward to track the names in this guide. Open a Questrade account to get started. Wealthsimple is a solid beginner-friendly alternative if you want a simpler interface for your first trades.

Growth-oriented fintech picks like Shopify and Propel are natural candidates for a TFSA, where gains compound tax-free. See our guide to the best TFSA stocks in Canada for how to think about that allocation.

Ranking the Best Fintech Stocks in Canada for 2026

Canadian picks:

1. Shopify (TSX: SHOP) 2. Constellation Software (TSX: CSU) 3. Propel Holdings (TSX: PRL) 4. EQB Inc. (TSX: EQB) 5. Lightspeed Commerce (TSX: LSPD) 6. VersaBank (TSX: VBNK)

Global picks Canadians can buy:

7. Visa (NYSE: V) 8. Mastercard (NYSE: MA) 9. American Express (NYSE: AXP) 10. SoFi Technologies (NASDAQ: SOFI) 11. Nu Holdings (NYSE: NU) 12. PayPal (NASDAQ: PYPL)

The Best Canadian Fintech Stocks To Buy Right Now

1. Shopify (TSX: SHOP) — Best Canadian Fintech Stock for 2026

• Rating: ⭐⭐⭐⭐⭐
• Price: $178.41
• 52 Week Range: 129.01 – 253.1
• Market Cap: C$231.5B
• PE Ratio (TTM): 87.89
• EPS (TTM): 2.03
• Earnings Date: N/A
• Forward Dividend & Yield: N/A (N/A)
• Ex-Dividend Date: N/A
• Data as of 2026-09-11.

Shopify is best known as one of the best Canadian stocks overall and the leading e-commerce platform for merchants worldwide, but under the hood it has quietly become Canada’s largest fintech. Shopify Payments processes transactions for millions of merchants, Shopify Balance gives those merchants business banking, and Shopify Capital extends financing based on real-time sales data. That payments and financial-services layer scales with every dollar of merchandise sold on the platform, which is exactly what you want from a fintech business model: the infrastructure is built once and monetizes an ever-growing transaction stream.

The growth engine is intact. Trailing revenue is up 32.5% year over year (Source: StockAnalysis, data as of August 28, 2026). In Q2 2026 (ended August 5, 2026), revenue grew 34% year over year to $3.58 billion, and president Harley Finkelstein called it a “standout quarter,” pointing to AI-referred traffic to Shopify’s stores tripling year over year alongside strong international, offline, and B2B growth (Source: StockAnalysis, data as of August 28, 2026). Full-year 2025 revenue rose 30.1% to $11.56 billion, though net income fell 39% to $1.23 billion as the company reinvested aggressively. Shopify also earns a spot in the conversation around the best Canadian AI stocks for how aggressively it has embedded AI across commerce and merchant tools.

Bull case: A dominant platform with a fintech revenue layer that grows automatically with merchant sales, plus AI-driven traffic and product momentum.

Risks: A P/E near 100 leaves no room for a growth stumble — Phillip Securities downgraded the stock to Accumulate from Buy in August 2026 on valuation, even after the strong quarter (Source: StockAnalysis). The stock swings hard in both directions, and a broad e-commerce slowdown would hit payments volume directly.

2. Constellation Software (TSX: CSU) — Vertical Software Compounder With Financial Verticals

• Rating: ⭐⭐⭐⭐⭐
• Price: $2827.94
• 52 Week Range: 2196.0 – 4500.0
• Market Cap: C$59.9B
• PE Ratio (TTM): 45.35
• EPS (TTM): 62.36
• Earnings Date: N/A
• Forward Dividend & Yield: $5.57 (0.20%)
• Ex-Dividend Date: September 17, 2026
• Data as of 2026-09-11.

Constellation Software is not a payments app, but it belongs on any serious Canadian fintech list. The company acquires and operates hundreds of vertical-market software businesses, including a deep bench serving banks, credit unions, insurers, and lenders. That makes CSU a diversified way to own mission-critical financial software without betting on a single product.

The past year has been unusual: the stock is down roughly 28% even as trailing revenue grew 17.7% (Source: StockAnalysis, data as of August 28, 2026). In Q2 2026 (ended June 30, 2026), net income jumped to $274 million from $56 million a year earlier, even as full-year 2025 earnings fell 30% to $512 million on acquisition-related costs. Management pointed to AI adoption boosting internal development productivity across its portfolio companies, though the organic-growth payoff has not fully shown up yet (Source: StockAnalysis). Jefferies and RBC Capital both maintained positive ratings in mid-August 2026 despite flagging margin pressure from recent deals. Analyst consensus sits at Buy with an average target of C$3,933.

Bull case: A proven capital-allocation machine trading well below its 52-week high while the underlying business keeps growing, with AI adoption now cited as a productivity tailwind across its software portfolio.

Risks: Growth depends on a steady pipeline of acquisitions at sensible prices, and the law of large numbers makes each year harder. Recent deals have pressured margins, which is part of why the market re-rated the stock down over the past year.

3. Propel Holdings (TSX: PRL) — Best Fintech Stock for Dividends and Value

• Rating: ⭐⭐⭐⭐⭐
• Price: $24.42
• 52 Week Range: 17.24 – 35.28
• Market Cap: C$961.5M
• PE Ratio (TTM): 12.92
• EPS (TTM): 1.89
• Earnings Date: N/A
• Forward Dividend & Yield: $1.02 (4.18%)
• Ex-Dividend Date: August 13, 2026
• Data as of 2026-09-11.

Propel Holdings is the strongest pure-play fintech left on the TSX. The Toronto-based company runs AI-driven online lending platforms (Fora Credit, CreditFresh, MoneyKey) serving consumers underserved by traditional banks across the US and Canada. Fiscal 2025 revenue grew 31.15% to US$589.81 million, and net income grew 28.34% year over year (Source: StockAnalysis).

The valuation is the story here. After a pullback over the past year, Propel trades at under 13x trailing earnings and under 7x forward earnings while paying a dividend yield near 4% (Source: StockAnalysis, data as of August 28, 2026). Q2 2026 results, released August 6, 2026, delivered what the company called record revenue and profitability, driven by strong loan originations, its Lending-as-a-Service partnerships, and continued UK growth, with stable credit performance supporting margins (Source: StockAnalysis). Multiple analysts raised targets afterward — Stifel to C$38 and TD Securities to C$37 — citing origination growth and Propel’s AI-driven underwriting. Analyst consensus is Strong Buy with an average target of C$35.08, well above the current price.

Bull case: Double-digit revenue and profit growth, a mid-single-digit-plus yield, a single-digit forward multiple, and fresh analyst price-target increases following a record quarter.

Risks: Propel lends to non-prime consumers, so a recession that drives up defaults would hit earnings fast. Small-cap fintech lenders also carry regulatory risk around rate caps in both the US and Canada.

4. EQB Inc. (TSX: EQB) — Canada’s Digital Challenger Bank

• Rating: ⭐⭐⭐⭐
• Price: $129.60
• 52 Week Range: 83.93 – 150.32
• Market Cap: C$5.5B
• PE Ratio (TTM): N/A
• EPS (TTM): -0.28
• Earnings Date: N/A
• Forward Dividend & Yield: $2.52 (1.94%)
• Ex-Dividend Date: September 14, 2026
• Data as of 2026-09-11.

EQB is the parent of Equitable Bank, the branchless “Challenger Bank” behind the EQ Bank digital platform. It is what a fintech looks like when it grows up and gets a full banking licence: digital-first customer acquisition, no branch network to fund, and a real balance sheet.

The company’s Q3 2026 results (fiscal quarter ended July 31, 2026, reported August 26, 2026) were a landmark: the quarter included the first month of results from the completed PC Financial acquisition, which closed July 1, 2026. StockAnalysis described it as “a transformative quarter with the PC Financial integration, driving record revenue, diversified earnings, and strong cost synergies,” even as trailing 12-month EPS remained slightly negative (-$0.31, Source: StockAnalysis, data as of August 28, 2026) on integration-related charges. Reaction was mixed: Raymond James downgraded the stock to Underperform citing “softer real estate” conditions and a missed EPS estimate, while CIBC trimmed its price target to C$154 and RBC Capital raised its target to C$146 (all dated the week of August 26, 2026). Analyst consensus overall is Hold, with an average target of C$136.60.

Bull case: A structurally lower-cost digital bank taking share from the Big Six, with the PC Financial integration adding scale and diversified earnings once the transition costs clear.

Risks: EQB carries real credit exposure to Canadian mortgages and real estate conditions, and integration execution is not finished. The negative trailing EPS and the split analyst reaction mean the turnaround still has to prove itself quarter by quarter.

EQB earnings scorecard: what the Q3 filings actually show

Every figure in this section comes from EQB’s own Q3 2026 earnings release, Supplemental Financial Information and Report to Shareholders for the quarter ended July 31, 2026, not from a data aggregator. This was EQB’s first quarter including PC Financial, limited to one month of results following the acquisition’s close on July 1, 2026. Reported revenue was $391.3 million, up 29% quarter over quarter and 28% year over year. Reported net income swung to a loss of $127.3 million (diluted EPS of $3.39) because of a $219.1 million Day-1 provision for credit losses on the acquired PC Financial credit card book, plus acquisition and integration costs. Adjusted net income, which excludes those one-time items, was $81.3 million and adjusted diluted EPS was $2.12, up 2% year over year and 4% quarter over quarter.

Where the loss came from. EQB does not report formal net-income segments, but its lending portfolio kept growing underneath the acquisition accounting: Personal loans under management rose 14% quarter over quarter and 11% year over year, and Commercial LUM rose 2% quarter over quarter and 12% year over year (EQB Q3 2026 earnings release, Aug 26, 2026). Book value per share reached $86.86, up 7% quarter over quarter. The Day-1 provision is an accounting artifact of the acquisition, not a sign the core business deteriorated.

Capital and credit. CET1 ratio was 13.4%, down 20 basis points quarter over quarter but up 10 basis points from a year ago. Total capital ratio was 16.6%. Total allowance for credit losses reached $485.4 million, up from $227.9 million the prior quarter, reflecting the acquired PC Financial credit card book; net allowances stood at 0.95% of total loan assets, versus 0.46% in Q2 2026 (EQB Report to Shareholders, Q3 2026, Table 8). EQB does not disclose a Liquidity Coverage Ratio; it reports total liquid assets at 6.8% of total assets, down from 8.1% the prior quarter.

The dividend. EQB declared $0.63 per common share, up 3% quarter over quarter and 15% year over year, payable September 29, 2026 to shareholders of record September 15, 2026.

Management’s own outlook. “With the closing of PC Financial on Canada Day, EQB has structurally shifted in customer reach, products, revenue mix and growth potential,” said President and CEO Chadwick Westlake. “The earnings power of the combined business will become more visible in Q4, and we will set out the path to our 2027 and medium-term return objectives at our Investor Day in December” (EQB Q3 2026 earnings release). CFO Anilisa Sainani added that the integration is “adding new revenue streams, enhancing earnings diversification, and reducing our reliance on housing and spread related income.” Management points to $15 million in annualized cost savings achieved so far against a $30 million pre-tax synergy target, and says the adjusted efficiency ratio remains on track against its low-50% target for 2026. EQB does not restate numeric medium-term targets in these documents; it defers 2027 objectives to its December 2026 Investor Day.

What the street expects next. Consensus estimates (street data, not company guidance) for EQB’s current fiscal year sit at $9.03 per share, down 2.8% over the past 90 days, with 2 estimates cut against none raised in the past 30 days. Next-quarter consensus is $2.78 from four analysts. That is a soft revision trend heading into a quarter that management itself frames as transitional, one more reason the market’s real verdict on PC Financial will come with the Q4 print and December’s Investor Day targets, not this one.

5. Lightspeed Commerce (TSX: LSPD) — Turnaround Bet on Commerce Software

• Rating: ⭐⭐⭐⭐
• Price: $13.80
• 52 Week Range: 10.8 – 19.25
• Market Cap: C$1.8B
• PE Ratio (TTM): N/A
• EPS (TTM): -0.98
• Earnings Date: N/A
• Forward Dividend & Yield: N/A (N/A)
• Ex-Dividend Date: N/A
• Data as of 2026-09-11.

Lightspeed sells point-of-sale and payments software to retailers and restaurants across North America and Europe. The Montreal company spent late 2024 under a strategic review that had the market betting on a sale; in February 2025 the board instead chose to stay public and execute a transformation plan focused on North American retail and European hospitality, alongside a share buyback program of up to US$400 million. The shares fell roughly 18% the day that decision landed, and the stock remains a show-me story.

The show is starting to work. In Q1 fiscal 2027 (reported July 30, 2026), revenue grew 17% organically to $322.7 million and adjusted EPS of $0.13 beat the $0.12 consensus; management said “fiscal 2027 is off to a strong start for Lightspeed, with revenue ahead of our outlook, and solid progress across our strategic priorities” (Source: StockAnalysis). Trailing revenue overall is up 11.6% (Source: StockAnalysis, data as of August 28, 2026), losses are narrowing, and the forward P/E of about 15 implies analysts expect real profitability ahead. The board added technology veteran Rupal Hollenbeck on August 25, 2026, and the company published its fifth annual sustainability report on August 27, 2026. Consensus on StockAnalysis is Hold with an average target of C$17.54.

Bull case: A payments-attach story trading at a fraction of its former valuation, with a credible path to profitability, an outlook-beating quarter, and buybacks supporting the stock.

Risks: Lightspeed competes directly with Square, Toast, and Shopify’s POS business, all better capitalized. If the transformation stalls, there is no takeover premium left in the price.

6. VersaBank (TSX: VBNK) — Small-Cap Digital B2B Bank

• Rating: ⭐⭐⭐⭐
• Price: $31.44
• 52 Week Range: 15.8 – 34.0
• Market Cap: C$1.0B
• PE Ratio (TTM): 29.94
• EPS (TTM): 1.05
• Earnings Date: N/A
• Forward Dividend & Yield: $0.10 (0.32%)
• Ex-Dividend Date: October 08, 2026
• Data as of 2026-09-11.

VersaBank is one of the more unusual names on the TSX: a branchless, business-to-business digital bank that funds point-of-sale financing portfolios, described by StockAnalysis as “a North American leader in business-to-business digital banking, as well as technology solutions for cybersecurity.” In Q2 fiscal 2026 (reported July 1, 2026), trailing revenue was up 24.8% to $137.85 million, though net income and EPS both slipped year over year on integration and growth-related costs (Source: StockAnalysis). Its US expansion has been the growth driver: a new partnership with ECN Capital announced July 9, 2026 is expected to contribute a minimum of US$300 million annually to its US structured receivable program. In fiscal Q3, reported September 3, 2026, net income rose 53% year over year to $10.1 million on revenue of $38.8 million, up 23%, though net interest margin narrowed to 2.19% and revenue came in about 3% below the analyst consensus; the full breakdown is in our VersaBank Q3 results analysis. Shareholders vote on the proposed Versa Bancorp reorganization at a special meeting on September 16, 2026. The stock has nearly doubled off its 52-week low, and analyst consensus is Buy with an average target of C$29.00.

Bull case: A capital-light banking model with US growth optionality via the ECN Capital partnership, still small enough that new receivable partnerships move the needle.

Risks: At under C$1B in market cap the stock is thinly traded and volatile, and at roughly 29x trailing earnings much of the recent US progress is already priced in. The pending reorganization vote is also a near-term item to watch.

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What Happened to Canada’s Fintech Stocks? The Consolidation Story

If this list looks different from the fintech roundups of 2023-2024, it is because the sector consolidated dramatically. If you remember names like Nuvei or Payfare, here is where they went:

• Nuvei (formerly TSX: NVEI): Canada’s largest payments pure-play was taken private by Advent International, alongside founder Philip Fayer, Novacap, and CDPQ, at US$34.00 per share, an enterprise value of about US$6.3 billion. The deal closed in November 2024 and the shares were delisted from the TSX and Nasdaq. Retail investors can no longer buy Nuvei.
• Payfare (formerly TSX: PAY): The gig-economy payments company was acquired by Fiserv for C$4.00 per share in cash, roughly C$201.5 million. The deal closed March 3, 2025, and Payfare was delisted from the TSX.
• Mogo (formerly TSX: MOGO): Mogo changed its name to Orion Digital Corp in December 2025 and now trades as TSX: ORIO. At a C$29 million market cap with negative earnings (data as of August 28, 2026), it is a speculative micro-cap rather than a core fintech holding.
• A name we considered and left off: alternative lender goeasy (TSX: GSY) is down just over 80% in the past year with negative trailing EPS amid what StockAnalysis describes as “elevated charge-offs and rising insolvencies” (data as of August 28, 2026). Until credit performance stabilizes, it stays off this list.

There is a genuine takeaway in all of this: private equity and US strategics paid billions for Canadian fintech assets. The companies that remain listed, particularly Propel and EQB, operate in the same space those acquirers were paying up for.

Best Global Fintech Stocks Canadians Can Buy

Canada’s shrunken pure-play universe is a good argument for adding global fintech exposure. All of the names below trade on US exchanges and are available in any Canadian brokerage account with US-dollar trading. Prices in USD. Table figures: Source: StockAnalysis, data as of August 28, 2026 — see each pick’s live data block below for current Yahoo Finance figures.

Company	Symbol	Market Cap	P/E (TTM)	Dividend Yield
Visa	NYSE: V	$700.47B	32.32	0.70%
Mastercard	NYSE: MA	$521.49B	32.54	0.58%
American Express	NYSE: AXP	$225.01B	20.29	1.14%
Nu Holdings	NYSE: NU	$69.08B	20.27	None
PayPal	NASDAQ: PYPL	$45.90B	11.59	1.04%
SoFi Technologies	NASDAQ: SOFI	$23.33B	38.03	None

7. Visa (NYSE: V)

• Rating: ⭐⭐⭐⭐
• Price: US$370.45
• 52 Week Range: 293.89 – 385.57
• Market Cap: US$691.6B
• PE Ratio (TTM): 31.53
• EPS (TTM): 11.75
• Earnings Date: N/A
• Forward Dividend & Yield: US$2.68 (0.72%)
• Ex-Dividend Date: August 10, 2026
• Data as of 2026-09-11.

The largest payments network on earth trades near its 52-week high (data as of August 28, 2026). Fiscal 2025 revenue grew 11.3% to $40.00 billion and net income rose to $19.85 billion. Visa has kept moving on the strategic side too: it acquired fraud-detection firm BioCatch for $2.4 billion (announced August 3, 2026), launched an AI-powered cyber-vulnerability-patching tool (August 27, 2026), and separately cut roughly 2,600 jobs including executive roles (August 5, 2026) as part of a broader efficiency push (Source: StockAnalysis). Analyst consensus on StockAnalysis is Strong Buy with an average target of US$418.92. Risk: regulators on both sides of the border keep pushing to cap interchange fees, and stablecoin payment rails are a long-term competitive question.

8. Mastercard (NYSE: MA)

• Rating: ⭐⭐⭐⭐
• Price: US$569.19
• 52 Week Range: 464.52 – 601.62
• Market Cap: US$498.6B
• PE Ratio (TTM): 31.27
• EPS (TTM): 18.20
• Earnings Date: N/A
• Forward Dividend & Yield: US$3.48 (0.61%)
• Ex-Dividend Date: July 08, 2026
• Data as of 2026-09-11.

Visa’s duopoly partner runs the same toll-road model with one strategic difference: Mastercard has leaned harder into value-added services like fraud analytics and open banking. Full-year 2025 revenue grew 16.4% to $32.79 billion and earnings rose 16.3% to $14.97 billion. The company completed its acquisition of stablecoin infrastructure firm BVNK on August 3, 2026 and struck new partnerships with Synchrony/PayPal and Fiserv over the same period (Source: StockAnalysis). Analyst consensus is Strong Buy from 40 analysts with a target of US$669.46. Risk: the same interchange and network-fee regulatory pressure Visa faces, at a premium valuation.

9. American Express (NYSE: AXP)

• Rating: ⭐⭐⭐
• Price: US$324.69
• 52 Week Range: 290.97 – 387.49
• Market Cap: US$219.3B
• PE Ratio (TTM): 19.70
• EPS (TTM): 16.48
• Earnings Date: N/A
• Forward Dividend & Yield: US$3.80 (1.17%)
• Ex-Dividend Date: July 01, 2026
• Data as of 2026-09-11.

American Express is the value play among the networks, trading at a markedly lower earnings multiple than Visa or Mastercard. Unlike them it lends on its own balance sheet, and following Q2 2026 (reported July 24, 2026), trailing revenue of $70.91 billion grew 11.8% and trailing EPS of $16.47 grew 15.8% year over year (Source: StockAnalysis, data as of August 28, 2026). Analyst consensus is Buy from 30 analysts with a target of US$375.96. Recent initiatives include an NFL-themed card rewards program and continued venture investment in AI-fintech platforms through Amex Ventures. Risk: that lending book means real credit-cycle exposure the pure networks do not carry, and Amex’s affluent-customer focus leaves it more exposed to a pullback in premium spending than mass-market issuers.

10. SoFi Technologies (NASDAQ: SOFI)

• Rating: ⭐⭐⭐
• Price: US$17.32
• 52 Week Range: 14.88 – 32.73
• Market Cap: US$22.4B
• PE Ratio (TTM): 35.35
• EPS (TTM): 0.49
• Earnings Date: N/A
• Forward Dividend & Yield: N/A (N/A)
• Ex-Dividend Date: N/A
• Data as of 2026-09-11.

SoFi topped the 2024 version of this list as a money-losing growth story. It is now GAAP profitable, with revenue up 40.9% year over year to $4.27B (Source: StockAnalysis, data as of August 28, 2026). In Q2 2026 (reported July 29, 2026), revenue grew 40% year over year to $1.21 billion and the company raised its full-year 2026 revenue guidance — yet the stock is still down roughly 27% year-to-date, and Wells Fargo flagged “high valuation” concerns on August 25, 2026 while KBW maintained a Sell rating after earnings (Source: StockAnalysis). Risk: a bank valued like a tech company, so any growth deceleration gets punished twice, and skeptical analyst coverage persists even after strong quarters.

11. Nu Holdings (NYSE: NU)

• Rating: ⭐⭐⭐
• Price: US$14.62
• 52 Week Range: 11.2 – 18.98
• Market Cap: US$70.6B
• PE Ratio (TTM): 20.03
• EPS (TTM): 0.73
• Earnings Date: N/A
• Forward Dividend & Yield: N/A (N/A)
• Ex-Dividend Date: N/A
• Data as of 2026-09-11.

Latin America’s digital banking giant pairs GAAP profitability with revenue growing 44.3% year over year (Source: StockAnalysis, data as of August 28, 2026). In Q2 2026 (reported August 13, 2026), net income surpassed $1 billion for the first time, with EPS up 56.3% year over year and management citing “record profitability” and a 33% return on equity; the stock surged 14.4% on the day of the report (Source: StockAnalysis). Nu also picked up a Brazilian banking license via a Banco Porto Real agreement and announced a $1.0 billion share-repurchase program, both in mid-2026. That combination of profitability, scale, and growth is rare anywhere in fintech. Risk: concentrated exposure to Brazilian consumer credit and currency swings.

12. PayPal (NASDAQ: PYPL)

• Rating: ⭐⭐⭐
• Price: US$53.72
• 52 Week Range: 38.46 – 79.215
• Market Cap: US$46.0B
• PE Ratio (TTM): 10.16
• EPS (TTM): 5.29
• Earnings Date: N/A
• Forward Dividend & Yield: US$0.56 (1.04%)
• Ex-Dividend Date: September 03, 2026
• Data as of 2026-09-11.

PayPal is the deep-value option, the cheapest name on this list by trailing earnings multiple, and it now pays a dividend. Full-year 2025 revenue grew 4.3% to $33.17 billion while net income rose 26.2% to $5.23 billion. The shares fell 12.7% on August 28, 2026 after reports that Stripe and Advent International had ended their roughly $50-53 billion pursuit of the company (per StockAnalysis news summary), which tells you both that acquirers circled and that the market wanted a deal. In the aftermath, Mizuho cut its price target to $51 from $60 and Loop Capital cut its target to $50 from $62, both citing “slowing growth and competition from Apple Pay, Google Pay and other payment platforms” (Source: StockAnalysis, August 28, 2026). Risk: branded checkout keeps losing share to Apple Pay and Shop Pay, and cheap can stay cheap without a catalyst.

Are There Any Fintech ETFs in Canada?

Here is the honest answer, verified today rather than carried forward from an old list: not really, not anymore. The BMO MSCI Fintech Innovation Index ETF (TSX: ZFIN) was Canada’s one dedicated, TSX-listed pure-play fintech fund, tracking the MSCI ACWI IMI Fintech Innovation Index. BMO wound it down in 2023: the fund stopped accepting new subscriptions on September 29, 2023, delisted from the TSX on December 11, 2023, and paid out final distributions to unitholders that December. There is currently no TSX-listed ETF dedicated purely to fintech.

Two verified alternatives get Canadian investors fintech exposure without stock-picking, though neither is a perfect substitute:

• Evolve Innovation Index ETF (TSX: EDGE) — a Canadian-listed fund with roughly $39 million in assets and a 0.40% management fee (Source: Evolve ETFs, as of August 28, 2026), tracking the Solactive Global Innovation Index. Fintech is one of several themes in the mix alongside cybersecurity, cloud computing, eGaming, and robotics, so it is a diluted way to get fintech exposure rather than a pure play.
• Global X FinTech ETF (NASDAQ: FINX) — the closer thing to a pure-play fintech fund, though it trades on Nasdaq and requires a US-dollar brokerage account. FINX holds about 74 companies, with top positions in Robinhood, Block, and PayPal, and had roughly $175.5 million in assets as of August 28, 2026 (Source: Global X ETFs). Its one-year NAV return was -27.04% through June 30, 2026, a reminder that thematic fintech funds can be as volatile as the individual stocks above.

For most investors, owning a handful of the individual names on this list, sized appropriately, gives more control over that risk-reward trade-off than either fund does.

What Is a Fintech Stock?

Fintech stocks are shares of companies that use technology to deliver financial services: processing payments, lending, banking, investing, and the software that runs behind all of it. Instead of branches and paperwork, these businesses run on software platforms, data analytics, and digital distribution, which lets them serve customers at a lower cost than the incumbents they compete with.

The category is broader than payment apps. It includes:

• Payment networks and processors that earn a fee on every transaction (Visa, Mastercard, Shopify Payments)
• Digital lenders that underwrite with data and algorithms rather than branch staff (Propel Holdings)
• Digital banks that operate without branch networks (EQB’s EQ Bank, VersaBank, Nu, SoFi)
• Commerce and point-of-sale software that bundles payments into merchant tools (Lightspeed, Shopify)
• Financial software vendors selling mission-critical systems to banks, insurers, and credit unions (Constellation Software’s financial verticals)

Regulators are watching this shift closely. The Bank of Canada’s ongoing research into digital currencies and fintech frames the stakes plainly, noting that understanding the benefits and risks of digital currencies and electronic payments matters because they “could affect our core functions as a central bank.”

Examples of Fintech Stocks in Canada

• Shopify (TSX: SHOP): best known for e-commerce, but Shopify Payments, Balance, and Capital make it Canada’s largest fintech by revenue reach
• Propel Holdings (TSX: PRL): AI-driven consumer lending platforms serving non-prime borrowers in Canada and the US
• EQB Inc. (TSX: EQB): the branchless Equitable Bank and its EQ Bank digital platform
• Lightspeed Commerce (TSX: LSPD): cloud point-of-sale and payments software for retailers and restaurants

What makes a fintech stock attractive is operating leverage: the platform is built once, and each additional customer or transaction adds revenue at little incremental cost. The trade-off is that these businesses are exposed to consumer spending, credit cycles, and regulation, which is why every pick above lists its risks alongside the bull case.

How Fintech Companies Make Money

Most fintechs on this list earn revenue through one or more of the following:

• Transaction and interchange fees: Visa, Mastercard, and Shopify Payments take a small cut of every card swipe or checkout, a model that scales automatically as payment volume grows.
• Net interest margin: digital banks and lenders like EQB, VersaBank, Propel, and SoFi earn the spread between what they pay depositors (or funding partners) and what they charge borrowers.
• Software and subscription fees: Lightspeed and Constellation Software’s financial-services verticals charge recurring licence or platform fees to merchants and financial institutions, independent of transaction volume.
• Origination and servicing fees: consumer lenders like Propel and buy-now-pay-later-style products earn a fee for underwriting and servicing a loan, on top of any interest earned.
• Foreign-exchange and card-program fees: cross-border payment volume and card-issuing programs add a secondary revenue layer for several names above, including Nu and SoFi.

How to Evaluate a Fintech Stock

Before buying any name on this list, check:

1. Where growth is coming from. Rising transaction volume and new-customer growth are more durable than single pricing changes. Compare revenue growth to user or volume growth to see if the business is actually scaling. 2. The path to GAAP profitability. Adjusted metrics can flatter a story. SoFi and Nu both crossed into GAAP profitability in 2026, which is a meaningfully higher bar than adjusted EBITDA. 3. Credit quality, if the company lends. Watch charge-off rates, loan-loss provisions, and management commentary on delinquencies — this is where non-prime lenders like Propel and goeasy live or die. 4. Regulatory exposure. A banking licence (EQB), interchange-fee rules (Visa, Mastercard), and consumer-lending rate caps (Propel) all shape the ceiling on what these businesses can charge. 5. Valuation relative to growth, not just a headline P/E. A 100x earnings multiple on Shopify means something different than a 100x multiple on a company growing half as fast. 6. The moat. Network effects (Visa, Mastercard), switching costs (Shopify’s merchant tooling), and proprietary underwriting data (Propel, Nu) are what keep a fintech’s economics intact once competitors show up.

FAQ: Canadian Fintech Stocks

What is the best fintech stock in Canada right now?

Shopify (TSX: SHOP) is our top Canadian fintech pick for 2026. Its payments, banking, and merchant-lending products ride on top of the world’s leading e-commerce platform, and trailing revenue is growing 32.5% year over year (data as of August 28, 2026). For a pure-play at a value price, Propel Holdings (TSX: PRL) is the standout.

Are there any pure-play fintech stocks left on the TSX?

Fewer than there were. Nuvei went private in 2024 and Payfare was acquired by Fiserv in 2025. Propel Holdings is the strongest remaining pure-play, while EQB, VersaBank, and Lightspeed offer listed exposure to digital banking and payments software. Many Canadian investors round out the sector with US-listed names like Visa and SoFi.

What happened to Nuvei stock?

Nuvei was taken private by Advent International, together with founder Philip Fayer, Novacap, and CDPQ, at US$34.00 per share, valuing the company at about US$6.3 billion. The transaction closed in November 2024 and the stock was delisted from the TSX and Nasdaq, so it can no longer be purchased.

Is Lightspeed still a public company?

Yes. Lightspeed Commerce concluded its strategic review in February 2025 and chose to remain public, launching a transformation plan and a buyback program of up to US$400 million rather than selling the company. It trades on the TSX and NYSE under LSPD; see the live data block in its section above for the current price.

Is there a fintech ETF listed in Canada?

Not a pure-play one anymore. The BMO MSCI Fintech Innovation Index ETF (TSX: ZFIN) was delisted from the TSX in December 2023 after BMO wound the fund down. The closest verified alternatives are the Evolve Innovation Index ETF (TSX: EDGE), a broader Canadian-listed innovation fund with fintech as one theme among several, and the Global X FinTech ETF (NASDAQ: FINX), a US-listed pure-play fund that requires a USD-denominated account. See the ETF section above for the full comparison.

How do fintech companies make money?

Mostly through fees tied to financial activity: transaction and interchange fees (Visa, Mastercard, Shopify Payments), net interest margin on loans and deposits (EQB, VersaBank, Propel, SoFi), and recurring software or subscription fees for the systems that power point-of-sale and back-office finance (Lightspeed, Constellation Software’s financial verticals). See “How Fintech Companies Make Money” above for the full breakdown.

Can I hold US fintech stocks like Visa in my TFSA?

Yes, US-listed stocks are TFSA-eligible. Capital gains grow tax-free, but US dividends paid into a TFSA are subject to US withholding tax that cannot be recovered, while an RRSP is exempt from that withholding under the Canada-US tax treaty. Growth-focused fintech stocks that pay no dividend lose nothing to withholding in a TFSA. Our TFSA stocks guide covers the details.

Are fintech stocks a good investment in 2026?

Fintech offers exposure to the ongoing shift toward digital payments, lending, and banking, and the 2024-2025 acquisition wave showed sophisticated buyers paying billions for Canadian fintech assets. The trade-off is volatility: these stocks carry higher valuations and sharper drawdowns than the broader Canadian market. Size positions accordingly and diversify across business models, from networks like Visa to lenders like Propel.

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Disclaimer: The content on bestcanadianstocks.ca is for informational and entertainment purposes only and does not constitute financial advice. Past performance is not indicative of future results. Always consult a qualified financial advisor before making investment decisions. All figures via StockAnalysis as of August 28, 2026. Questrade® is a registered trademark and/or service mark of Questrade, Inc.

Stock data from Yahoo Finance, as of 2026-08-30.