Toronto-based Impression Ventures Fund has raised C$20 million to invest in early-stage Canadian financial technology companies.
Anchor investors include Fairfax subsidiary FairVentures as well as family offices looking for exposure to the expanding fintech scene.
The company says the new fund will build on earlier investments in online financial advisor Wealthsimple, digital receipt outfit Sensibill, and on-demand parking payments firm HonkMobile.
It will also partner with FairVentures to pursue and make investments in the emerging insuretech scene.
In conjunction with the launch of the new fund, Impression is adding several new advisors, including Claudia Hepburn, one Canada’s Top 25 Women of Influence for her achievements in entrepreneurship and the non-profit sector and Steve Dengler, founder of currency conversion outfit XE.