Helcim raises $53 million amid shakeup in Canadian payments

By August 21, 2026
Members of the Helcim team.
Calgary company reaches $250-million valuation, hopes to grow after Moneris sells to US private equity.

Calgary-based Helcim raised fresh financing and reported more than $150 million CAD in annual revenue as it looks to fill a new vacuum within Canada’s payments infrastructure.

The news: The Calgary-based payments processor announced on Friday that it has raised a $53-million CAD Series C round led by the Business Development Bank of Canada (BDC)’s Growth Venture Fund. Credit union-backed Curql Collective, Los Angeles-based Gold House Ventures, and returning backers Headline, Aquiline, Information Venture Partners, Vesey Ventures, Clocktower Ventures, and Alberta Accelerate Fund also participated. 

The round valued Helcim, which mainly powers payments for small and medium-sized businesses, at $250 million CAD, up from $97 million as of its Series B round two years ago.  

From the source: “There’s huge momentum in the business right now, and the market shifted in our favour at the same time. It felt like the right moment to raise and put capital behind what’s already working,” Helcim CEO Nicolas Beique wrote in an email to BetaKit. 

The context: The market shift is part of a changing landscape for payments in Canada, as the Big Five banks have gradually sold off their payment processing divisions. Last year, TD sold part of its merchant solutions business to Fiserv, and this month, BMO- and RBC-owned Moneris announced its sale to a US private equity firm. 

Beique said the Moneris sale and related worries about sovereignty coincided with a boost in inbound calls for Helcim. But it was already growing quickly before then: the company said it crossed $150 million in annual recurring revenue last year. 

Final thought: Helcim has been banging the drum about “walled-off” payment systems, which is when a platform or ecosystem restricts access to external payment workflows, promoting its built-in services as the only option. With the new funding, Helcim said it will build on its payment extension add-on, which the company says will give merchants more flexibility and, ideally, reduce costs.   

BetaKit’s Prairies reporting is funded in part by YEGAF, a not-for-profit dedicated to amplifying business stories in Alberta.

Feature image courtesy Helcim.

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