You Can't Start a Bank in Canada. So He Built the Next Best Thing.
Summary
Cato Pastoll is the co-founder and CEO of a Toronto based fintech startup called Loop.
Loop bills itself as Canada's #1 bank for entrepreneurs - with a cross border banking platform that includes corporate cards, payments, FX, capital and more in multiple currencies.
Founded about a decade ago as Lending Loop - the company launched as a platform for equity crowdfunding, before pivoting to focus on how their customers used money in addition to providing ways for them to source it.
In this episode, Cato: - Tells us about the history of his company - Relates the evolving need for financial services from agile young companies who operate internationally - Explains his passion for technology and finance as a youth and how that has led to founding this company - Compares Canada to other countries in the world who have greater flexibility and lower barriers to entry for the banking sector - like the UK - Much more...
READ MORE: https://startwell.co/blogs/the-startwell-podcast/building-a-fintech-bank-for-entrepreneurs-cato-pastoll-from-loop
LISTEN / SUBSCRIBE TO THE PODCAST Apple Podcasts: https://podcasts.apple.com/ca/podcast/the-startwell-podcast/id1391959054 Spotify: https://open.spotify.com/show/4m6yuRXZHNYQ2QxrFfj7ag?si=fiH1LIydTXCSWD3jUwfing YouTube: https://www.youtube.com/playlist?list=PLNSlT8MChO5IKqmzL0-wx2-yw3WxXjLC2
The StartWell Magazine: https://startwell.co/pages/magazine
CHAPTERS Cross-border banking platform for Canadian businesses. (0:00) Banking and international money transfer. (3:06) Financial innovation and underserved small businesses in Canada. (6:25) Banking regulations and innovation. (11:30) Entrepreneurship, financial services, and managing risk. (14:41) Loop payment platform for cross-border transactions. (20:09) Cross-border payments and currency exchange fees. (23:22) Financial management and payment solutions. (29:45) Financial management for businesses using Stripe and virtual cards. (32:25) Small businesses and their importance in the economy. (37:46) Organic growth, customer service, and FinTech innovation. (41:04)
CONNECT WITH STARTWELL & QASIM VIRJEE (HOST) Website: https://startwell.co Instagram: https://www.instagram.com/startwellco LinkedIN: https://www.linkedin.com/in/qasimvirjee/
FILMED & EDITED at STARTWELL in Toronto, Canada https://startwell.co/pages/studios
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