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Canadian payments company Helcim has raised $38 million in a Series C round to expand its platform for small and medium-sized businesses. The funding comes as several major Canadian banks sell or outsource their merchant services operations.
7:14 PMPYMNTS
Preply cofounder and CEO Kirill Bigai says the company grew from his difficulty finding an English tutor online. In its early days, he took a consulting job while earning almost nothing from building the startup.
5:43 AMFortuneSummary
Canadian payments company Helcim has raised $38 million in a Series C round to expand its platform for small and medium-sized businesses. The funding comes as several major Canadian banks sell or outsource their merchant services operations.
Helcim is raising capital as incumbent banks retreat from parts of the merchant services market,
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Bank retrenchment is opening a potentially valuable distribution gap for fintechs serving small businesses.
Summary
Preply cofounder and CEO Kirill Bigai says the company grew from his difficulty finding an English tutor online. In its early days, he took a consulting job while earning almost nothing from building the startup.
Preply's origin story reflects the financial strain founders can face before product-market fit and outside
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The story connects startup outcomes to the founder resources required to survive the pre-revenue phase.
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