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Helcim Raises C$53 Million, Valuation Hits C$250 Million
Helcim raised C$53 million in a Series C round, more than doubling its valuation to C$250 million as the Calgary payments firm targets small businesses left by banks exiting merchant services.
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Calgary-based payments company Helcim raised C$53 million ($38 million) in a Series C round led by BDC Capital's Growth Venture Fund, lifting its valuation to C$250 million as it chases small- and mid-sized business demand.
The round included new investors Curql Collective, a strategic investment fund backed by more than 160 North American credit unions, and Gold House Ventures. Existing investors Headline, Aquiline, Information Venture Partners, Vesey Ventures, Clocktower Ventures and Alberta Accelerate Fund also participated.
The financing brings Helcim's total equity raised since its 2022 Series A to C$100 million. It more than doubles the valuation from C$97 million at the Series B in 2024.
Helcim said it has crossed C$150 million in annual recurring revenue and expanded to more than 22,000 active businesses across Canada and the United States. The company, which employs about 200 people, is on track to process nearly C$10 billion in annual payment volume.
The funding comes as several large Canadian banks have sold or outsourced their merchant services businesses, creating an opening for payment providers targeting small and mid-sized companies.