Montreal-based Holt Fintech Accelerator launched its second cohort this week, bringing together eight new companies from five different countries, to participate in its 12-week program.

“We’re trying to support financial technologies that we believe are needed in the Canadian market,” says Holt Accelerator founder and managing partner, Brendan Holt Dunn. “This creates direct benefits for Canadian consumers, financial institutions and service providers, while also enabling Canada to be more competitive globally.”

The accelerator’s eight new companies were chosen from nearly 600 applications from over 70 different countries. Participating companies receive training sessions, immersion in the fintech environment and hands-on help from committed financial institutions and venture capital firms.

“This brings Holt closer to its goals of supporting innovation in the global financial services sector and continuing to help make Montreal, Quebec and Canada a top destination for fintech talent an innovation,” the company said in a statement released this week.