Calgary-based payments company Helcim has secured $53 million in Series C financing as it looks to expand its platform, grow its team, and serve more mid-sized businesses across North America.
The round was led by BDC Capital’s Growth Venture Fund. New investors Curql Collective—a strategic fund backed by more than 160 North American credit unions—and Gold House Ventures also participated.
Existing investors Headline, Aquiline, Information Venture Partners, Vesey Ventures, Clocktower Ventures, and Alberta Accelerate Fund returned for the round.
The financing brings Helcim’s total equity raised since its 2022 Series A to $100 million. It also values the Calgary technology company at $250 million, up from $97 million following its Series B round in 2024.
Helcim says it recently surpassed $150 million in annual recurring revenue and is on track to process nearly $10 billion in payments annually. The company now employs approximately 200 people and serves more than 22,000 active businesses in Canada and the United States.
“There’s a real void in the market right now—merchants are coming to Helcim faster than ever, looking for a modern alternative,” said founder and chief executive officer Nic Beique.
Beique said the new capital will allow Helcim to expand its platform and move further up-market, with the goal of ensuring businesses do not outgrow its services.
Helcim traces its roots to 2006 but launched its current payments infrastructure in 2020. Rather than reselling another processor’s technology, the company built its own end-to-end system.
That infrastructure allows Helcim to offer volume-based interchange-plus pricing, positioning it as an alternative to payment providers that charge merchants flat-rate fees.
The company sees a widening opportunity as major Canadian banks sell or outsource merchant-services operations. Helcim believes the resulting market shift is creating demand among small and mid-sized businesses for a payments provider offering transparent pricing, online and in-person payment tools, and direct customer service.
In January, Helcim introduced an AI-powered Payment Extension designed to help merchants connect its payment processing technology with software they already use. The company says adoption of the self-integration tool has grown quickly since its launch.
“Helcim is having a unique moment, growing fast and building a real advantage in the market,” said Jack Fraser, partner at BDC Capital’s Growth Venture Fund.
Fraser pointed to Helcim’s AI-powered integration product as an example of the rapid innovation BDC believes will help the company capture a larger share of the payments market.
Helcim plans to invest the Series C capital in its core payments platform while expanding into additional financial services for merchants.
The company is also developing partnerships with regional banks and credit unions seeking alternatives to traditional payment processors for their small-business members. Curql Collective’s participation could help accelerate that strategy across the credit-union sector.
“Helcim’s payment hub is the best we have seen, and their value proposition for the credit unions is far more robust than what is currently in market,” said Curql president and CEO Nick Evens.
The Series C represents another significant technology financing for Calgary and gives Helcim additional resources to pursue a larger share of the North American payments market from its Alberta headquarters.
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