Who Are Toronto’s Most Impactful Mobile Payments Startups in 2023?

As technology continues to evolve, the way we make payments is also changing rapidly. Startups from Toronto, Ontario are leading the way, providing innovative solutions in the area of mobile payments. This article introduces 15 exciting mobile payment startups from the city, representing a diverse range of industries from hospitality to financial services and healthcare.

These startups are leveraging technology to streamline transactions, provide secure payment options, assist with financial management and more. By harnessing the power of analytics, machine learning, blockchain, and other advanced technologies, they are transforming the way we handle money and conduct business.

Let’s have a glimpse into each of these startups to understand how they are disrupting the mobile payment landscape in Toronto.


Tango is a technology infrastructure company that specializes in hospitality businesses. Co-founded by Alan Shortz, Colin Wymore, and Mark Provost, the company provides innovative solutions in analytics, machine learning, mobile payments, SaaS, software, and transaction processing, aiming to revolutionize the hospitality industry.

GroupPay Inc.

GroupPay is a mobile payment aggregator co-founded by Sammy Jarquin. The company operates in the fields of finance, fintech, hardware, mobile payments, SaaS, and software, offering streamlined payment solutions to its users.


Storspay is a forward-thinking company that enables the receipt and sending of in-store payments in both crypto and fiat currencies. Founded by Adebayo Alonge, Dr. Win Min Oo, and Sabrina Zhou, the company ventures into the realms of Bitcoin, blockchain, cryptocurrency, fintech, and mobile payments.


Fincra offers payment solutions that enable secure acceptance of payments, settle transactions, and facilitate the movement of money across borders. The company operates in the areas of developer APIs, financial exchanges, financial services, mobile payments, network security, and payments.


STACK is a mobile payment startup that provides instant rewards and indispensable tools to manage your money. Co-founded by Miro Pavletic, the company is making strides in the fields of banking, mobile payments, and payments.


MinervaAI is a regtech platform that employs a deep learning platform & automation to accomplish AML tasks within seconds. Co-founded by Damian Tran, Jennifer Arnold, and Victor Tay, the company operates in the areas of cryptocurrency, financial services, information technology, machine learning, mobile payments, payments, and social media management.


DUC App is a payment platform that offers specific solutions in cross-border, local payments, and foreign currency exchange services. This apps, financial services, mobile payments, and payments startup, offers straightforward payment solutions to diverse customer needs.


Friddy is a payment gateway that provides financial services for all types of transactions. As a financial services, mobile payments, and payments startup, Friddy is reshaping the way transactions are conducted with their versatile solutions.


BlockEQ, co-founded by Jonathan Lister, Megha Bambra, and Satraj Bambra, operates in the fields of blockchain, cryptocurrency, financial services, fintech, mobile apps, mobile payments, and payments. The company provides services in payments, fintech, crypto, and blockchain.


HealthBank is a leading healthcare payments infrastructure that serves patients, providers, pharmacies, insurance carriers, benefits & HR. Co-founded by Odero Otieno, this startup is making headway in the fields of accounting, banking, credit cards, developer APIs, financial services, fintech, healthcare, health insurance, mobile payments, and personal finance.

Spinach Pay

Spinach Pay allows cannabis retailers to provide their customers with more payment options. Founded by Chad Agate, this cannabis, fintech, mobile payments, and payments startup is introducing secure and flexible payment solutions in the burgeoning cannabis industry.


Clubly, co-founded by Giancarlo Rosa and Keerththan Gnanachchenthan, is a comprehensive guide to nightlife in your city. Operating in the fields of apps, internet, mobile, mobile advertising, mobile payments, and software, Clubly aims to enhance the nightlife experience while simplifying payments.


SpendSafe helps parents effortlessly track their children’s spending while imparting money management skills. Founded by Vasanth Ratna, the startup, operating in the fields of education, mobile payments, and software, is dedicated to nurturing financially savvy future generations.


Partrunnr offers on-demand heavy truck services and operates in the realms of B2B, construction, mobile payments, SaaS, software, and speech recognition. The company offers simplified and secure payment solutions in the heavy truck services industry.


Renoshield, co-founded by Dave Strang, provides secure mobile payments for the home renovation industry. This construction, financial services, mobile payments, and software startup is facilitating seamless and secure transactions in the home renovation sector.

These startups are making waves in the mobile payment sector and will undoubtedly continue to innovate and disrupt the landscape. With their unique, tech-driven solutions, they are paving the way for a future where financial transactions are more secure, efficient, and user-friendly. Stay tuned to watch these startups achieve greater heights and reshape the way we handle money!

Looking to amplify your brand’s impact in Canada’s thriving startup and investment sector? Join the league of innovators, leaders, and decision-makers making a difference through Canada Venture News. Engage with our audience of startup founders, investors, and executives through sponsored articles and partnerships. Discover more on our Promotion & Sponsored Articles page or email us directly at [email protected]. Let’s shape your story together.

Canada Venture News

CanadaVenture.news is a Canadian venture magazine that covers startups, business, technology, and innovation in Canada. The online publication provides news, insights, and resources for entrepreneurs, investors, and business professionals, featuring articles, interviews, and analysis of the latest trends and developments in the Canadian startup ecosystem.