MaRS Discovery District is partnering with Tangerine, the Canadian direct bank and Envestnet® | Yodlee®, a leading technology and applications platform.
Under the agreement, Tangerine is joining MaRS’ Financial Technology (“FinTech”) cluster to connect with leading startups developing financial services technology with a focus on big data, loyalty and mobile payments. Through Ynext, selected MaRS FinTech startups will receive resources and tools to take their innovations to market, including access to The Envestnet | Yodlee financial data platform.
- According to CB Insights, Canadian fintech ventures received CAD $483.9M in funding in 2014, an increase of 124% compared to the 2013.
- MaRS FinTech works with more than 150 startups. Many of these entrepreneurs indicate a strong desire to access new tools and resources that will help them to enhance their products and services – The Envestnet | Yodlee Platform and Tangerine will help to meet this need.
“Tangerine is thrilled to be partnering with MaRS and its network of high impact fintech startups,” said Charaka Kithulegoda, Chief Information Officer, Tangerine. “Through our strategic partnership we are helping entrepreneurs to develop their businesses while offering our customers the latest innovation through MaRS.”
“Ynext is committed to constant innovation in the financial services industry. Allowing third party developers to leverage the unique Envestnet | Yodlee platform and distribution capabilities will bring cutting edge new products and services to market faster,” said Joseph Polverari, Chief Strategy & Development Officer at Envestnet | Yodlee and GM/Founder of Ynext. “Our relationship with MaRS FinTech will enable a new generation of entrepreneurs and developers to create products that will help people manage and relate to their money.”
“I am delighted to announce our strategic partnership with Tangerine and Envestnet | Yodlee as we continue to grow MaRS’ FinTech cluster,” said Adam Nanjee, Head of MaRS FinTech. “As part of MaRS FinTech, Tangerine and Envestnet | Yodlee will join MaRS’ growing community of financial technology companies and entrepreneurs to help drive innovation in Canada for the next generation of consumers in the financial services sector.”