Over the last few years, the fintech industry has slowly come to fruition and is now a dominant force in terms of online and mobile payments, big data, alternative finance and financial management, according to Statista.
With 2017 coming to an end, here the Investing News Network (INN) takes a look back at the 5 top performing fintech stocks on Canadian exchanges with market caps of less than $500 million. All figures and numbers are collected from Google Finance for the period January 1 to December 18 at market close.
Continue reading below to find out who the top fintech stocks of the year were.
1. BTL Group (TSXV:BTL)
Market cap: $309.19 million; current share price: $15.25; year-to-date gain: 1,170.83 percent
Our top gaining fintech stock of the year is Vancouver-based BTL Group. Aside from its Vancouver location, BTL Group has offices in Calgary and Canary Wharf in London, and focuses on developing blockchain solutions with its Interbit platform.
The Interbit platform is “focused on leveraging blockchain technology” to create cash-in-cash out settlement solutions from Canada and the UK.
In Q4 2017, some of BTL Group’s highlights include: a $6 million marketed financing with GMP Securities, announced in November, an increase tot he market financing to $10.7 million also announced in November; and the closing of a non-brokered offering and offering of equity units, announced in late November.
2. Glance Technologies (CSE:GET; OTCQB:GLNNF)
Market cap: $311.18 million; current share price: $2.44; year-to-date gain: 938.30 percent
Next is Glance Technologies, which went public in September 2016. The company’s flagship product Glance Pay offers mobile payments in restaurants. Through the app, its customers can pay their restaurant bills, access records, receipts, awards and even rate restaurants.
Overall it’s been a banner year for the company, but its Q4 2017 highlights include launching a rewards-based cryptocurrency for its Glance Pay app, announced in October; the offering of an fraud technology for cryptocurrencies, announced in early November; and completing the acquisition of cryptocurrency technology Blockimpact, announced in early December.
3. Mogo Finance Technology (TSX:MOGO)
Market cap: $129.21 million; current share price: $7.00; year-to-date gain: 264.58 percent
Middle of the pack on our top fintech stocks of 2017 list is Mogo Finance Technology, a company focused on the digital financial services sector in the domestic market and helping customers regain control of their financing.
Mogo’s customers can sign up for a MogoAccount to access free credit card score monitoring, the Mogo Prepaid Visa and personal loans.
In Q4 2017, Mogo ghad a number of notable highlights, including: a secure way to provide Canadians with ways to own cryptocurrencies and bitcoin; exceeding 500,000 members for its Mogo Account; the launch of MogoProtect to help prevent identity fraud; and an increase to a bought deal financing in the amount of $26.25 million.
4. MOBI724 Global Solutions (CSE:MOS)
Market cap: $31.68 million; current share price: $0.17; year-to-date gain: 142.86 percent
MOBI724 Global Solutions, a company that provides digital incentives such as card-linked offers and digital marketing, ranging from mobile payment, loyalty programs and data analytics.
In the last quarter of the year, some of the company’s highlights include: a memorandum of understanding with First Global Data (TSXV:FGD) to implement alternative payment solutions in the Philippines and Latin America; a processing card-linked transactions with Visa platform in North America and Latin America; and that its subsidiary iQ7/24 signing an agreement with Yuzu Sushi to relaunch its loyalty digital marketing platform.
5. BlackIce Enterprise Risk Management (CSE:BIS)
Market cap: $6.89 million; current share price: $0.065; year-to-date gain: 44.44 percent
Closing out the top 5 fintech stocks of 2017 list is BlackIce Enterprise Risk Management, a software technology and consulting firm that specializes in global enterprise risk management i the banking industry.
Its focus is on markets in Southeast Asia and the United States, while its core software solutions include: Enterprise Risk Aggregation and Analytics; the Governance and Compliance Database; and the BlackIce Enterprise Stress-Testing Solution.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: BlackIce Enterprise Risk Management is a client of the Investing News Network. This article is not paid-for content.