Dollar payments platform Helcim based at Calgary completed raising its Series C funding of $53 million CAD led by Business Development Bank’s (BDC) Growth Venture Fund which raised the company’s total shareholders’ capital up to $100 million and the company’s valuation was also raised up to $250 million CAD. The round saw new investors like Curql Collective and Gold House Ventures join and existing investors who continued to support the team such as Headline Aquiline Information Venture Partners, Vesey Ventures, Clocktower Ventures, and Alberta Accelerate Fund.
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The injection of capital at this time couldn’t have been better timing for them as traditional banks slowly withdrawing and outsourcing their merchant services business are leaving lots of space for the payment services to be offered in the way that small and mid-sized enterprises across North America would like, that is transparent and contemporary payment systems. Commenting on the market opportunity driving the round, Nic Beique, Founder and CEO 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 lets us act on this at scale: expanding our platform, growing our team, and moving up-market so no business outgrows what we can offer them.”
