Helcim Secures $53 Million Series C Funding Amid Bank Retreat from Small Business Payments
In a significant move for the small business payments landscape, Helcim has successfully closed a Series C funding round, raising $53 million CAD. Led by the Business Development Bank of Canada (BDC) Growth Venture Fund, this financing marks a crucial milestone for the Calgary-based payments company, elevating its valuation to $250 million CAD. The funding also saw participation from strategic new investors, including Curql Collective—an investment consortium backed by over 160 North American credit unions—and Gold House Ventures, alongside continued support from existing investors such as Headline, Aquiline, and Information Venture Partners.
This latest capital injection boosts Helcim's total equity raised to an impressive $100 million since its Series A in 2022. The company's growth trajectory has been remarkable; having crossed $150 million in annual recurring revenue (ARR), Helcim now serves over 22,000 active businesses across Canada and the United States. With nearly $10 billion expected in annual payment volume, Helcim is solidifying its position as a vital partner for small and mid-sized enterprises (SMEs).
This funding round comes at a pivotal time—many of Canada's prominent banks have either sold off or outsourced their merchant services divisions, resulting in a notable gap in the market for SMEs. Helcim is strategically poised to fill this void, focusing on transparent pricing, an open merchant platform for both in-person and online payments, and exceptional customer service. Nic Beique, the CEO and founder of Helcim, stated,
"There’s a real void in the market right now—merchants are coming to Helcim faster than ever, looking for a modern alternative. This round allows us to expand our platform, grow our team, and target mid-market companies so that no business outgrows what we can offer them."
Founded in 2020, Helcim has built its own end-to-end technology infrastructure rather than reselling other processors’ systems. This decision has enabled Helcim to provide flexible volume-based pricing as opposed to the inflated flat-rate fees commonly seen in the industry.
A noteworthy innovation from Helcim is its AI-powered Payment Extension launched in January 2026. This tool empowers merchants to self-integrate Helcim's payment processing into existing software solutions, giving them the freedom to choose their payment processor without being locked into a single provider. Since its launch, the tool’s adoption has ramped up significantly, reflecting an increasing demand for Helcim's offerings.
Jack Fraser, a partner at BDC Capital's Growth Venture Fund, highlighted Helcim’s unique position and rapid growth in today’s market, emphasizing the importance of their innovative offerings such as the AI-powered integration tool. Helcim plans to utilize the newly acquired capital to enhance its payment platform and expand into more financial services tailored for its merchants. Furthermore, the company is actively forging partnerships with regional banks and credit unions, which are shifting away from traditional models in search of modern payment solutions for their small business clientele.
Nick Evens, President and CEO at Curql, stated, "Credit unions must continuously enhance their offerings for small business members to remain competitive. Helcim’s payment hub stands out as one of the best we've seen, providing substantial value to the credit unions."
Helcim's mission remains to create the world’s most cherished payments platform, built specifically for small and mid-sized businesses. As it continues to grow and innovate, Helcim is ensuring that it not only meets the current demands of the market but also anticipates the future needs of its clients. For more information about Helcim’s services and offerings, you can visit their official website at helcim.com.
Looking ahead, Helcim has positioned itself to redefine payment processing for small businesses in North America, setting a powerful precedent for future developments in the fintech arena.
This latest capital injection boosts Helcim's total equity raised to an impressive $100 million since its Series A in 2022. The company's growth trajectory has been remarkable; having crossed $150 million in annual recurring revenue (ARR), Helcim now serves over 22,000 active businesses across Canada and the United States. With nearly $10 billion expected in annual payment volume, Helcim is solidifying its position as a vital partner for small and mid-sized enterprises (SMEs).
This funding round comes at a pivotal time—many of Canada's prominent banks have either sold off or outsourced their merchant services divisions, resulting in a notable gap in the market for SMEs. Helcim is strategically poised to fill this void, focusing on transparent pricing, an open merchant platform for both in-person and online payments, and exceptional customer service. Nic Beique, the CEO and founder of Helcim, stated,
"There’s a real void in the market right now—merchants are coming to Helcim faster than ever, looking for a modern alternative. This round allows us to expand our platform, grow our team, and target mid-market companies so that no business outgrows what we can offer them."
Founded in 2020, Helcim has built its own end-to-end technology infrastructure rather than reselling other processors’ systems. This decision has enabled Helcim to provide flexible volume-based pricing as opposed to the inflated flat-rate fees commonly seen in the industry.
A noteworthy innovation from Helcim is its AI-powered Payment Extension launched in January 2026. This tool empowers merchants to self-integrate Helcim's payment processing into existing software solutions, giving them the freedom to choose their payment processor without being locked into a single provider. Since its launch, the tool’s adoption has ramped up significantly, reflecting an increasing demand for Helcim's offerings.
Jack Fraser, a partner at BDC Capital's Growth Venture Fund, highlighted Helcim’s unique position and rapid growth in today’s market, emphasizing the importance of their innovative offerings such as the AI-powered integration tool. Helcim plans to utilize the newly acquired capital to enhance its payment platform and expand into more financial services tailored for its merchants. Furthermore, the company is actively forging partnerships with regional banks and credit unions, which are shifting away from traditional models in search of modern payment solutions for their small business clientele.
Nick Evens, President and CEO at Curql, stated, "Credit unions must continuously enhance their offerings for small business members to remain competitive. Helcim’s payment hub stands out as one of the best we've seen, providing substantial value to the credit unions."
Helcim's mission remains to create the world’s most cherished payments platform, built specifically for small and mid-sized businesses. As it continues to grow and innovate, Helcim is ensuring that it not only meets the current demands of the market but also anticipates the future needs of its clients. For more information about Helcim’s services and offerings, you can visit their official website at helcim.com.
Looking ahead, Helcim has positioned itself to redefine payment processing for small businesses in North America, setting a powerful precedent for future developments in the fintech arena.
Topics Financial Services & Investing）
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