Investment in Canada’s financial technology sector shrinks in first half of 2023, report says

Startup valuations across the technology spectrum have been hit as high-interest rates and worries over a looming economic slowdown sour investor appetite

, leading to a shift towards safer investments with greater focus on profitability and away from cash-burning firms.

In comparison, the first half of 2022 saw $834.1-million invested across 109 deals. In the second half, $1.09-billion was invested across 87 deals, the report said.

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