Who Are Ontario’s Top Game-Changing Risk Management Startups in 2023?

Risk management is the process of identifying, assessing and controlling threats to an organization’s capital and earnings. These threats, can stem from a wide variety of sources, including financial uncertainty, legal liabilities, strategic management errors, accidents and natural disasters. Ontario, Canada is a hub of great minds and cutting-edge technology giving birth to numerous startups that are working hands-on to provide practical solutions with their niche in Risk management. Below are top risk management startups based in Ontario, Canada.

BOXX Insurance

BOXX Insurance was founded by Michael Senechal and Vishal Kundi. It specializes in risk management solutions tailored for small-to-medium-sized businesses. Operating within the wider Financial Services, Risk Management, and Services Industry, BOXX Insurance has made a significant impact in ensuring businesses can prevent, handle, and bounce back after unforeseen circumstances.


Spearheaded by Anya Klimbovskaia and Laura McGee, Diversio is a people intelligence platform that measures, tracks, and improves diversity and inclusion. This unique venture, operating in the Analytics, Artificial Intelligence, Information Technology, Risk Management, Software industry, ensures that workplaces are not only diverse, but they are also inclusive, thus promoting productivity and employee satisfaction.

Indie Tech

Indie Tech is an innovative new supplier management system. The brainchild of Sophia G. Contreras Stone, Indie Tech works within several sectors, including Enterprise Software, FinTech, Management Consulting, Marketplace, Risk Management, and Supply Chain Management, offering comprehensive resources that elevate supplier management to new heights.

Riskfuel Analytics Inc

Co-founded by Ryan Ferguson, Riskfuel Analytics offers AI software for banks and insurance companies. Their services are particularly informative for businesses operating in the Artificial Intelligence, Financial Services, FinTech, Information Technology, InsurTech, Machine Learning, Risk Management, Software industry.


Founded by Duncan Rowland, Migrations.ml employs machine learning to forecast credit risk. Major players in the Analytics, Artificial Intelligence, Big Data, Credit, FinTech, Information Technology, Machine Learning, Risk Management, Software industry can benefit considerably from their services.


Previance, led by entrepreneur Sam Wong, is a Financial crimes compliance advisory and automation firm that helps businesses manage risk by embracing digital transformation. This startup is providing much-needed solutions in a world where cyber crimes are ever frequent.


At the helm of AuditMap, Mathieu Lemay is providing AI platforms for auditors and risk managers. The multi-disciplinary startup targets sectors including Accounting, Artificial Intelligence, Machine Learning, and Risk Management.


Sofvie offers risk management and compliance management services. Their utilization of business intelligence & technology in addressing organizational risks sets them apart from their competitors in the Compliance, Database, Risk Management, Software industry.


Under the direction of James Mignacca, RootSecure provides information security, compliance, and risk analytics solutions with a high-level CyberRisk platform. They offer pivotal tools for organizations in the Analytics, Compliance, Cyber Security, Machine Learning, Risk Management, SaaS, and Security sectors.

NoLeak Defence

Firmly on the Artificial Intelligence, Computer, Cyber Security, Machine Learning, Network Security, Risk Management, and Software industry map, NoLeak Defence uses an AI-based system to identify suspicious actions and behaviors from cameras, offering a new perspective of surveillance and security, thanks to the visionary Rafael Libardi.

Armour Cybersecurity

Armour Cybersecurity, founded by David Chernitzky, offers risk management, penetration testing, cybersecurity strategy, breach management, and cyber-managed services.

FlowPoint Technologies

FlowPoint Technologies develops collaborative software offering financial risk management and business reporting services. This startup is a beacon in the Financial Services, Risk Management, Software industry.

BankingBook Analytics

BankingBook Analytics believes in credit process digitization, offering technology solutions, risk management, and regulatory compliance services in the Analytics, Compliance, Financial Services, and Risk Management sectors.


Minetell utilizes AI to provide real-time insights, and measure risk exposure. They are carving a niche in the Artificial Intelligence, Data Visualization, Risk Management, and Software industry with their data & risk management services.

Kwajamii Financial

Kwajamii Financial offer services in investment, wealth planning, risk management, and business consulting. They are a game-changer in the Financial Services, Risk Management, and Wealth Management spheres.

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