Canadian payments firm Helcim, which focuses on small- to medium-sized businesses (SMBs) has raised $16m in a Series A funding round.
Led by Information Venture Partners (Information VP) and Aquiline Technology Growth (ATG), the fresh funding will enable the firm to expand its offerings for SMBs.
It also plans to use the fresh capital to hire over 150 new staff, including customer service, developers, and sales, in the next two years.
Information VP principal Jane Podbelskaya and ATG’s Danté La Ruffa will join Helcim’s board of directors as part of the funding round.
The round also saw investments from Alberta-based Accelerate Fund III, Generational Platform Partners and several Canadian tech leaders, including Boris Wertz, Jason Smith, Hanif Joshaghani, and Kevin Sandhu.
Helcim founder and CEO Nic Beique said: “We built Helcim to provide the payment tools that allow small businesses to thrive by combining our payments-first approach, accessible and easy to use software, alongside our knowledgeable and helpful customer service.
“We’re thrilled to partner with Information VP and Aquiline to expand on our ecosystem of tools that ensure small businesses can access the payments solutions they deserve.”
Helcim, which serves businesses in Canada and the US across a range of industries, relaunched as a payments facilitator in June of 2020. The firm previously sold merchant services on behalf of a large legacy processor.
Information VP, co-founder and general partner Rob Antoniades commented: “We are very impressed with the foundation of the business that CEO Nic Beique and his team have built so far, as well as the potential that lies ahead.
“The caliber of talent, the sophistication of payments technology, the level of customer service, and speed of growth is truly impressive.”