KPMG stated that due to macroeconomic concerns, investment in Canadian fintech companies in the first half of 2023 has decreased by three times. There were a total of 57 transactions (including venture capital, private equity, and merger and acquisition activities), with a total amount of US $353.7 million. This is lower than the investment amount of US $1.09 billion from 87 transactions in the second half of 2022 and the investment amount of US $834.1 million from 109 transactions in the first half of 2022.