Stripe heads to Toronto to boost Canadian business growth

Gloria Mathias

Stripe, the financial infrastructure platform for businesses, has opened its new office in Toronto. The expansion reflects Toronto’s growth in North American tech talent and strengthens Stripe’s commitment to Canada.

Stripe serves rapidly growing Canadian startups and platforms such as Workleap and Thinkific, Shopify, Enercare, FreshBooks and SkipTheDishes.

“After more than a decade in Canada, we are proud to support many of the country’s most successful startups and enterprises, and thousands more Canadian businesses are starting to work with Stripe every day. We look forward to expanding our team and accelerating the success of even more Canadian companies,” he said Matthew Burlak, head of Canada GTM at Stripe.

From 2021 to 2023, Stripe payment volume from Canadian companies increased by more than 50%. The growth comes as thousands of Canadian businesses join Stripe every day and long-time users partner with Stripe to launch new business models and expand revenue streams. Shopify uses Stripe to enable Shopify Payments and Shopify Balance, as well as personal payments.

“Shopify has been working with Stripe for almost a decade, and we trust Stripe to always do the right thing for its customers. “We are excited that other Canadian companies will benefit from Stripe’s growing commitment and long-term investment in Canada,” he said Kaz Nejatian, COO at Shopify.

Over the past year, Stripe has introduced new products and features that make it easier for Canadian businesses to:

• Grow globally with Stripe Payments, which enables businesses to sell to over 195 countries in 135 currencies through over 100 payment methods.
• Make contactless payments in person with Tap to Pay on iPhone, which supports Interac Debit without the need for additional hardware.
• Eliminate checkout lines with Amazon’s Just Walk Out technology for convenient shopping at locations like the Scotiabank Saddledome and Scotiabank Arena.
• Grow complex revenue models with Stripe Billing, a usage-based billing that enables businesses to track customer usage of products and services and bill accordingly.