Alongside the booming fintech industry on a global scale in these past couple of years, Canada has fared particularly well in fintech because of support from powerful ecosystem partnerships and urbane investors.
Among the genius minds in fintech is Jay Modi, who, like all successful entrepreneurs, has a clear vision in business. He knows exactly where he wants the company to go and is relentlessly pursuing his goals until he sees them to fruition.
Jay has garnered over twenty years of professional business and entrepreneurial experience. Born in London, United Kingdom, he moved to Canada in 1997 and attended Western Canada High School in Calgary. With a passion for the business world, Jay created an organic pasta company while pursuing his post-secondary education. Subsequently, he launched a real estate company which became very successful.
Believing he had the necessary business experience to move forward in his career, Jay left the University of Calgary to explore other professional opportunities. While he has served in various sectors such as food manufacturing, real estate, and film production, his most recent endeavors have focused primarily on fintech and technology.
Jay’s company, Approval Nation Inc., is among Canada’s fastest-growing fintech companies that provide financial resources for everyday customers looking for loans. So what is his advice, having founded one of the country’s most successful businesses?
“Knowing which opportunities to say yes to, and which to say no to, and also, when to micromanage and when to delegate,” says Jay.
Acknowledging the hard work behind the curtain, Jay explains how sales and revenue growth at a company can increase exponentially. A firm believer in teamwork, he advises that if one wishes to be successful, one must learn to manage and handle the inevitable challenging scenarios in business calmly and with focus.
“Knowing the difference and finding that balance is key. Also, as a business owner and entrepreneur, sometimes you will have to deal with the small things; this is normal, and you must treat your business like your child. There is nothing too small you cannot do to help it grow and flourish,” Jay states.
Today, companies Jay has founded have been named in the Top Growing Companies in Canada List by the Globe & Mail and Report on Business Magazine for 2020, 2021, and 2022. The respected newspaper also named Jay’s companies in the Top 50 Fastest Growing Firms. Most recently, Jay’s labor of love also made it Canada’s 4th Fastest Growing Startup in 2020 by McLeans Magazine.
Jay proves time and time again why he is considered a Fintech trailblazer and that he isn’t slowing down anytime soon. If you aspire to be a successful entrepreneur, you must build a clear vision for your business and be passionate about achieving it, just like Jay Modi.