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Other Developments
A curated list of other prominent stories from this day.
7:14 PMPYMNTS
Helcim Raises $38 Million to Fill Small Business Banking Void
Summary
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,
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Why it matters
Bank retrenchment is opening a potentially valuable distribution gap for fintechs serving small businesses.
The CEO of $1.2 billion learning platform Preply says it all started with his online search for an English tutor
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
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Why it matters
The story connects startup outcomes to the founder resources required to survive the pre-revenue phase.