Desjardins sets up $45 million fintech investment facility

Desjardins sets up $45 million fintech investment facility

Canadian financial services co-operative Desjardins has created a $45 million fintech investment pool to support its push into digital services.

The fund has alredy made its first investment in X-Telia, a Quebec-based public LoRaWAN operator in the Internet of Things and home automation sector.

Guy Cormier, president and CEO of Desjardins Group, says: "Digital transformation is fundamentally changing the relationship between consumers and businesses in many industries, including the financial services sector. With this investment pool, Desjardins will be able to broaden its role as a socioeconomic leader by connecting members, communities and businesses, while engaging with these stakeholders on digital platforms."

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