My Beacon provides financial services tailored for immigrants in Canada through the My Beacon mobile app, acting as a centralized platform for banking and settlement needs. Its main offering is the Beacon Money account, a digital wallet that supports daily spending and lets users withdraw cash at any VISA-enabled ATM worldwide without Beacon fees. It also offers Beacon Remit, an RBI-approved platform for international money transfers, and Beacon Planning Lists to guide users through immigration and settlement steps. The company uses a direct-to-consumer model and forms strategic partnerships (for example with Wellconnect Services Inc.) to broaden its reach and integrate financial services into the broader newcomer support ecosystem. In short, My Beacon aims to simplify banking, remittance, and settlement for newcomers by providing convenient digital tools and a supportive network.
Company Size
11-50
Company Stage
Early VC
Total Funding
$23.9M
Headquarters
Canada
Founded
2023
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