Helcim Raises $38 Million to Address Market Gap

Calgary-based payments company Helcim has announced a successful Series C funding round of $38 million. This investment comes as many major Canadian banks divest or outsource their merchant services, creating an opportunity for modern payment solutions.

Filling the Void in Small Business Banking

According to Helcim founder and CEO Nic Beique, merchants are increasingly seeking alternatives to traditional banking systems. “There’s a real void in the market right now — merchants are coming to Helcim faster than ever,” he stated. The funding will enable Helcim to expand its platform, grow its team, and serve businesses of all sizes.

Strategic Partnerships Expand Reach

Helcim is also forging partnerships with regional banks and credit unions that are looking to modernize their offerings. Nick Evens, president and CEO of Curql (an investor in this round), noted that credit unions need to evolve to remain competitive. “Helcim’s payment hub is the best we have seen, and their value proposition for CUs is far more robust than what is currently in market.”

SMB Demand Focuses on Practical AI Applications

The investment arrives as small and medium-sized businesses (SMBs) show growing interest in financial technology. Recent research indicates that 75% of Canadian SMBs would use at least one AI feature offered by their financial institution within the next two years.

This demand isn’t for fully autonomous systems, but rather practical tools to improve decision-making and streamline operations. Business owners are seeking assistance with expense tracking (31%), budgeting (22%), cash flow management, supplier discovery, and product comparisons — all areas where AI can provide tangible value within existing banking relationships.