Canadian Payments Processor Helcim Raises $53-Million Amid Growing Demand for Domestic Alternatives

Helcim Inc., a Calgary-based payments processor, is positioning itself as a champion of Canadian data sovereignty and infrastructure after the sale of Moneris Solutions Corp. to a U.S. buyer for $2-billion.

CEO Nicolas Beique said that this deal will accelerate Helcim's growth, citing that domestic merchants reacted strongly to reduced Canadian options following Toronto-Dominion Bank's sale of its payments processing unit to Milwaukee-based Fiserv, Inc.

H helcim has now secured $53-million in equity financing from Business Development Bank of Canada's (BDC) growth venture unit, valuing the company at $250-million including funds raised. This round includes investors Curql and Gold House Ventures.