A major Canadian bank has given its backing to a growing fintech start-up.
National Bank of Canada and Luge Capital have made a $1.75 million investment in Flinks, that will allow the Montreal-founded fintech to accelerate its growth and market an AI-powered risk assessment solution based on the transaction habits of end-users and the health of their financial accounts.
Four other partners are also participating in the first-round funding of Flinks.
David Furlong, Senior Vice-President, Artificial Intelligence, Venture Capital and Blockchain, at National Bank, explains why the bank has backed the fintech start-up.
“In today's world of accelerated digital transformation, National Bank strives to be at the forefront by offering its clients innovative solutions that are convenient, simple and efficient. It is very important for us to support environments that stimulate innovation and have a positive impact on customer experience. That is why we are pleased to join forces with Montreal-based Flinks,” he said.