Canadian paytech Helcim completes $20m Series B funding round
Canada-based omnichannel payment platform Helcim has secured $20 million in a Series B fundraising round to help finance further product development.
Helcim completes $20m Series B round
Founded in 2006, Helcim provides small and medium-sized enterprises (SMEs) based in North America with an all-in-one payment processing platform that enables merchants to accept payments via credit and debit cards, digital wallets, and ACH bank-to-bank transfers.
The fintech says it has “identified and filled a crucial gap for true Main Street business owners in a sea of antiquated competition“. It claims to differentiate itself from other companies in the market by focusing on the “underserved segment” of lawyers, dentists, veterinarians, and mechanics, which it claims is characterised by “higher Average Order Values (AOVs), lower digital payment penetration, and tighter working capital needs requiring affordable and transparent pricing”.
The recent cash injection will be used to fuel Helcim’s product development, with the fintech prioritising the enhancement of its distribution channels and the expansion of its financing, payment, and software services for small business merchants.
The round was led by Californian venture capital firm Headline with participation from existing backers Aquiline Technology Growth and Information Venture Partners, alongside new investors SilverCircle, Clocktower Ventures, and Vasey Ventures. It adds to the company’s $12.7 million Series A funding raised in 2022.
Helcim joins a number of fellow fintechs who have announced Series B funding rounds recently, including SME banking tech vendor Finom and Colombian B2B payments firm Simetrik.
