National Bank invests $103M in financial data company

Montreal-based National Bank of Canada is investing $103 million in financial data company Flinks, the fintech said in a release on Wednesday.

The investment follows the launch of the Montreal-based Flinks in the United States and includes $30 million in growth capital to accelerate its expansion in North America, the release said.

Flinks is also planning to grow its market share in the wealth and lending spaces and expand its offerings in “analytics and data enrichment,” the release said.

The growth capital will also allow the fintech to double its headcount, it said.

National Bank has invested in Flinks previously and, in recent months, Flinks has established partnerships with Winnipeg-based Conquest Planning Inc. to offer data services for the financial planning software company, as well as Vancouver-based Advisor Flow to onboard clients more quickly.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.