Helcim Raises $53 Million Series C as Big Banks Leave Small Business Payments
Small businesses are getting abandoned by the banks. Over the last year, several of Canada’s biggest banks sold off or outsourced their payment services for small and mid-sized companies. That The post Helcim Raises $53 Million Series C as Big Banks Leave Small Business Payments appeared first on Ventureburn .
Several big Canadian banks have recently abandoned their small and mid-sized business payment services, leaving many merchants with higher fees and inadequate support. To fill this gap, Helcim has successfully raised $53 million CAD in a Series C funding round led by BDC’s Growth Venture Fund. Joined by new investors Curql Collective and Gold House Ventures, alongside existing backers such as Headline and Aquiline, this round boosted Helcim's valuation to $250 million CAD.
Since 2022, the company has raised a total of $100 million. Currently, Helcim is processing nearly $10 billion in payments annually and has grown rapidly, boasting over 22,000 active businesses in Canada and the United States. The company's secret lies in its proprietary payment system, allowing it to charge transparent “interchange plus” pricing rather than inflated flat rates.
Helcim also excels in providing clear pricing, an open platform for both in-person and online payments, and real customer service – areas where banks typically fall short. This year, Helcim launched an AI Payment Extension to help integrate payment processing into various software platforms, addressing a major pain point for businesses.
This innovation has been well-received by investors and merchants alike. With banks focusing on other areas, Helcim is moving up-market to build a payment company that sets the standard, offering small business owners greater choice and better service.
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