Stripe forays into Toronto to fuel Canadian business growth

By Gloria Mathias

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

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

“After more than a decade in Canada, we’re proud to support many of the country’s most successful startups and enterprises, with thousands more Canadian companies getting started with Stripe every day. We’re looking forward to growing our team and accelerating the success of even more Canadian businesses,” said Matthew Burlak, Head of Canada GTM at Stripe.

Between 2021 and 2023, payment volume on Stripe from Canadian companies grew more than 50%. The growth comes from thousands of Canadian businesses joining Stripe each day and long-standing users partnering with Stripe to launch new business models and expand their revenue streams. Shopify uses Stripe to enable Shopify Payments and Shopify Balance, as well as in-person 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’re thrilled for other Canadian businesses to benefit from Stripe’s growing commitment and long term investment in Canada,” said Kaz Nejatian, COO at Shopify.

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

• Expand globally with Stripe Payments, which enables businesses to sell to over 195 countries in 135 currencies through more than 100 payment methods.
• Provide contactless in-person payments using Tap to Pay on iPhone, which supports Interac Debit with no extra hardware required.
• Eliminate checkout lines through Amazon’s Just Walk Out technology, which creates an effortless shopping experience at venues like Scotiabank Saddledome and Scotiabank Arena.
• Power complex revenue models with Stripe Billing’s usage-based billing, which lets businesses track their customers’ usage of products and services and charge accordingly.