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Canada's RBC eyes Silicon Valley talent at fintech hub

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James Neely

It has already opened similar facilities in Toronto, London, Luxembourg, New York and Orlando, Florida.

"Many start-up companies are doing some really interesting things and are started by really smart young talent that probably wouldn't consider joining a bank at this point in their lives."

According to KPMG, global investment in fintech companies totaled $19.1 billion last year.

RBC has set aside C$100 million $78 million as "seed money" to invest in such companies, and Woo said it would look to open more labs around the world.

RBC has also partnered with C100, a group of Canadian entrepreneurs in Silicon Valley, to set up Canada House.

Canadian start-ups can use that office in the Valley to meet potential investors and customers.

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James Neely
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