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My accountant buddy in Kitchener told me he turned down 3 fintech clients last month, and the reason made me nervous
He runs a small bookkeeping shop and said all 3 were Canadian fintech startups that had raised money but could not show him a clean path to revenue past 2026. One had $1.2M in the bank and was burning $90k a month with 4 paying customers. He said the founders kept pitching him on the vision instead of the numbers, which is a red flag he learned to spot after the last downturn. What hit me was that he is not a VC or a banker, just a guy doing taxes in Kitchener, and he is now the one saying no. If the boring money people are backing away from Canadian fintech, that says more than any pitch deck out there. Anyone else hearing this from their accountant or bookkeeper lately?
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elizabeths512d ago
Man, my guy just started asking for twelve months of bank statements before he'd even quote them.
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