Helcim Closes C$53M Series C at C$250M Valuation as Canadian Banks Retreat From Small Business Payments
Helcim Closes C$53M Series C at C$250M Valuation as Canadian Banks Retreat From Small Business Payments #
Calgary-based payment processor Helcim has closed a C$53 million Series C funding round, lifting its valuation to C$250 million and bringing its total capital raised to approximately C$100 million, according to the company’s announcement on August 21.
The round was led by BDC Capital’s Growth Venture Fund, the venture arm of the Business Development Bank of Canada, with new institutional investors Curql Collective and Gold House Ventures joining the cap table. Curql Collective, backed by more than 160 North American credit unions, and Los Angeles-based Gold House Ventures joined alongside returning backers including Headline, Aquiline, Information Venture Partners, Vesey Ventures, Clocktower Ventures, and the Alberta Accelerate Fund.
The latest raise more than doubles Helcim’s previous C$97 million Series B valuation from two years ago. The company, founded in 2006 and rebuilt on a proprietary end-to-end payments stack in 2020, says it has recently surpassed C$150 million in annual recurring revenue. Proceeds are earmarked for platform expansion, headcount growth, enhanced customer support, and new product development targeting mid-sized merchants across North America.
The fundraise comes as several of Canada’s largest banks have sold or outsourced their merchant-services operations, reducing the number of dedicated payment providers for small and medium-sized businesses. Helcim has positioned itself as one of the last Canadian-owned merchant payment processors, a distinction it has used as a selling point as Canadian economic nationalism has intensified.
Helcim launched an AI-powered Payment Extension in January 2026 that allows merchants to integrate its processing technology into existing software tools without relying on a single platform. The company says adoption has grown quickly since the release. Jack Fraser, partner at BDC Capital’s Growth Venture Fund, cited the AI integration product as an indicator of the pace of innovation he expects will help Helcim capture a larger share of the market.
Copy link