# FinDev Canada

> FinDev Canada is a VC fund in Montréal backing Financial Services and Banking. See 34 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Montréal, Canada
- Total investments: 34
- Last investment: May 2026
- Lead investor: 53%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/findevcanada/about/
- X (Twitter): https://twitter.com/findev_canada
- Website: https://www.findevcanada.ca/en/homepage

FinDev Canada is a development finance institution that offers financial solutions to businesses in developing countries, with the potential to develop markets, empower women, and mitigate climate change. It provides innovative and sustainable solutions for entrepreneurs in developing markets. It primarily invests in companies operating in thealternative energy, agriculture, and financial sectors.FinDev Canada was established in 2018 and is headquartered in Montréal, Quebec.

## Contacts

5 contacts available for FinDev Canada. Shizune tracks 5 team members at FinDev Canada. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/findev-canada?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Post-IPO Debt | $20M–$350M |
| Debt Financing | $10M–$390M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Financial Services | 24 | 71% |
| Banking | 15 | 44% |
| Finance | 11 | 32% |
| Credit | 6 | 18% |
| Insurance | 3 | 9% |

33 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Debt Financing | 24 | 71% |
| Post-IPO Debt | 4 | 12% |
| Funding Round | 1 | 3% |
| Private Equity | 1 | 3% |
| Convertible Note | 1 | 3% |

6 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Ecuador | 3 | 9% |
| Nigeria | 3 | 9% |
| Colombia | 3 | 9% |
| Peru | 2 | 6% |
| Togo | 2 | 6% |

21 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Boris Martin | Advisory Council Member | 0 | https://shizune.co/investors/profile/boris-martin-fe2f |
| Joan Larrea | Advisory Council Member | 0 | https://shizune.co/investors/profile/joan-larrea |
| Paul Lamontagne | Managing Directo | 0 | https://shizune.co/investors/profile/paul-lamontagne-bb3e |
| Paulo Martelli | Chief Investment Officer | 18 | https://shizune.co/investors/profile/paulo-martelli-6063 |
| Suzanne Gaboury | Chief Investment Office | 12 | https://shizune.co/investors/profile/suzanne-gaboury |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Acelen Renováveis | Acelen Renováveis is creating an integrated "seed-to-fuel" concept to manufacture Sustainable Aviation Fuel (SAF) and Renewable Diesel (HVO) from native macaúba palm. | $1.5B | Debt Financing | May 21, 2026 |  |
| Publimovil | Publimovil offers outdoor advertising with digital and static billboards across Central America for brand visibility. | $10M | Private Equity | May 07, 2026 |  |
| CIFI | CIFI provides project finance and structuring and syndication services to the energy, tourism, construction, and telecom industries. | $30M | Debt Financing | Apr 14, 2026 |  |
| Energía Renovable La Joya | Energía Renovable La Joya is a Peruvian company focused on renewable energy generation, particularly the development of the Illa solar photovoltaic project. | $56M | Debt Financing | Feb 05, 2026 |  |
| Africa Finance Corporation | Africa Finance Corporation focuses on infrastructure financing across various sectors, including power and transportation. The institution provides debt, equity, project development, and financial advisory services to address infrastructure needs. It was established through an agreement among sovereign African states and has received anchorinvestment from the Central Bank of Nigeria. Since its establishment, AFC has invested significantly in high-quality infrastructure assets to support sustainable economic growth in Africa. | $100M | Debt Financing | Oct 21, 2025 |  |
| Banco Industrial | Banco Industrial is a financial banking institution. We currently offer services through a network of more than 3,180 service points throughout the Republic of Guatemala, as well as access to the most complete web and mobile electronic banking from anywhere in the world. Banco Industrial was established in 1968 in Guatemala. | $415M | Debt Financing | Sep 22, 2025 |  |
| HDBank | HDBank was established in 1990, is one of the first joint-stock commercial banks in the country. Over 30 years of operation, HDBank is now one of the leading banks in Vietnam and is expanding internationally.HDBank has strong financial potential and modern technology, providing a wide range of financial and banking services to individuals,businesses, and investors. | $215M | Post-IPO Debt | Aug 01, 2025 |  |
| VPBank | VPBank offers insurance, personal services, loans, electronic banking, and other products and services. VPBank is a joint-stock commercial bank in Vietnam. VPBank has achieved steady development throughout its history. Especially since 2010, VPBank has grown dramatically with the development and implementation of the strategic transformationprogram, with diligent support from consulting companies. | $350M | Post-IPO Debt | Jul 29, 2025 |  |
| CRDB Bank | CRDB Bank is a platform that specializes in offering a complete range of financial services and products to its diverse clientele. | $60M | Post-IPO Debt | Jun 25, 2025 |  |
| Stanbic IBTC Bank | Stanbic IBTC Bank offers all our clients a wide range of personal and commercial banking products through over 180 branches spread across every state in Nigeria and our online banking platforms.Stanbic IBTC Bank offers current, savings, and domiciliary accounts; personal loans, vehicle and asset finance; MasterCard debit cards, Visa creditcards; home loans; internet banking; small and medium scale enterprise (SME) loans and the award-winning *909# MobileMoney.We cater for both individuals and businesses through carefully designed retail and business banking products. We also offer self-service channels powered by sophisticated technology to bring convenient banking to customers.Stanbic IBTC Bank clients can also get custodial services through Stanbic Nominees Nigeria Limited, our custody arm and non-pension asset custodian, acting in a nominee capacity for clients’ transactions in securities and other investments.They are a key player in financial inclusion and are poised to take banking to the doorsteps of their customers; taking care of the banking needs of different categories of persons and businesses. | $40M | Debt Financing | Oct 08, 2024 |  |

10 of 34 investments shown.

## Co-investors
- [IDB Invest](https://shizune.co/investors/profile/idb-invest) — VC Fund, 5 deals together
- [FMO](https://shizune.co/investors/profile/fmo) — VC Fund, 4 deals together
- [International Finance Corporation](https://shizune.co/investors/profile/international-finance-corporation) — VC Fund, 3 deals together
- [Japan International Cooperation Agency](https://shizune.co/investors/profile/japan-international-cooperation-agency) — VC Fund, 3 deals together
- [British International Investment](https://shizune.co/investors/profile/cdc-group) — VC Fund, 2 deals together
- [Norfund](https://shizune.co/investors/profile/norfunds) — VC Fund, 2 deals together

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## FAQ

### What does FinDev Canada invest in?

FinDev Canada invests primarily in Financial Services, Banking and Finance startups, most often at Debt Financing and Post-IPO Debt stage. Most of the 34 investments tracked by Shizune back companies in Ecuador. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is FinDev Canada's check size?

FinDev Canada typically joins rounds of $20M–$350M at Post-IPO Debt and $10M–$390M at Debt Financing. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds FinDev Canada participates in.

### How do I contact FinDev Canada?

Public channels for FinDev Canada include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at FinDev Canada?

The team at FinDev Canada includes Boris Martin (Advisory Council Member), Joan Larrea (Advisory Council Member) and Paul Lamontagne (Managing Directo). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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