BMO Backs Fintech Accelerator, Signals Ecosystem Investment
Event summary
- BMO and 1871 have opened applications for the seventh annual WMNfintech program, running from June to October 2026.
- The program selects five startups annually, providing resources including mentorship, access to 1871's network, and networking opportunities.
- Past participants have collectively created over 220 jobs and raised $51 million in capital since 2020.
- WMNfintech has grown to become North America's largest network of its kind, focused on fintech startups and founders in financial services.
- BMO has $1.5 trillion in assets as of January 2026 and serves approximately 13 million clients.
The big picture
BMO's continued support of WMNfintech underscores a strategic move to engage with and shape the future of fintech, particularly targeting underserved markets. This initiative, combined with BMO’s significant asset base, positions them to influence the direction of innovation within the financial services sector. The program's focus on female and minority founders aligns with a broader trend of financial institutions seeking to address systemic inequities and expand their customer base.
What we're watching
- Program Impact
- The success of the 2026 cohort will be a key indicator of WMNfintech's continued relevance and BMO's commitment to the program, particularly given the evolving fintech landscape.
- Ecosystem Expansion
- BMO's investment suggests a broader strategy to cultivate a fintech ecosystem; monitoring their partnerships and acquisitions will reveal the scope of this initiative.
- Founder Focus
- The program's emphasis on founders from underserved markets indicates a potential shift in fintech innovation; tracking the types of solutions developed will be crucial.
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