Best Payments Companies in Toronto, Canada
The 128 best Payments companies in Toronto, Canada in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: KOHO.
Our analysis of 150 Payments companies
$44.9b in tracked funding; 96% of the stack-profiled cohort runs cloud-native; funding activity peaked in 2021.
Ranked: Best Payments companies in Toronto
| # | Company | Disclosed funding | Last round | Stage | Employees | Founder | Tech stack | Patents & IP focus | Recent signals |
|---|---|---|---|---|---|---|---|---|---|
| 1 | KOHO Internet-first bank for individuals 76Funding top 18%Customers top 18%Tech top 24%Talent top 28% All 12 signals ▾Fundingtop 18% Customerstop 18% Techtop 24% Talenttop 28% Moattop 31% Innovationtop 32% Producttop 37% Markettop 41% Partnerstop 41% Growthbottom 47% Globalbottom 37% Newsbottom 24% Funding: Raised $356M across 11 rounds · 11 rounds over 11 yrs (1.0/yr) Customers: Play-Store rating 4.79★ across 72,587 ratings (1 apps) · Marquee-customer mentions: top 30% of tracked companies rank vs industry peers · Fliar Intelligence Index 76/100 | $356M | 14 mo ago | Series D | 270 | Joshua Bixby Founder & Investor | Amazon WebstoreSentryApple iCloud Mail+38 | — | 2 launchs · 1 award |
| 2 | Brim Financial NFC-enabled credit card payment solution for individuals 37Funding top 30%Moat top 31%Talent top 44%Growth top 45% All 9 signals ▾Fundingtop 30% Moattop 31% Talenttop 44% Growthtop 45% Producttop 46% Newsbottom 46% Techbottom 44% Globalbottom 36% Marketbottom 33% Funding: Raised $102M across 2 rounds · 2 rounds over 5 yrs (0.4/yr) Moat: Editorial + unicorn rating 8/10 · Soonicorn rank vs industry peers · Fliar Intelligence Index 37/100 | $102M | 26 mo ago | Series C | 44 | Rasha Katabi Co-Founder & CEO | PHPBootstrapApache HTTP Server+17 | — | — |
| 3 | Ethoca Fraud protection solutions for omnichannel retailers | $45M | 131 mo ago | Acquired | 162 | — | DrupalMariaDBPHP+19 | 5 patents Payment fraud detection and transaction rescue solutions for electronic commerce | — |
| 4 | Plooto Provider of accounts payable and accounts receivable automation software solutions | $26M | 42 mo ago | Series B | 93 | Hamed Abbasi Co-Founder & Co-CEO | HubSpot CMS HubSalesforceRxJS+28 | — | 1 partnership |
| 5 | Trolley Manufacturer of trolleys and trams 60Tech top 24%Product top 30%Innovation top 39%Funding top 39% All 11 signals ▾Techtop 24% Producttop 30% Innovationtop 39% Fundingtop 39% AItop 45% Talentbottom 49% Growthbottom 47% Marketbottom 44% Moatbottom 38% Globalbottom 37% Newsbottom 34% Tech: 59 technologies across 6/8 capability areas · Cloud: Amazon Cloudfront, Amazon S3 Product: 12 distinct product lines · Company stage: Series B rank vs industry peers · Fliar Intelligence Index 60/100 | $25M | 20 mo ago | Series B | 105 | Tim Nixon Founder & CEO | WordPressCart FunctionalityApple iCloud Mail+41 | — | — |
| 6 | XTM Provider of earned wage access platform for service-focused businesses | $21M | 30 mo ago | Public | — | Marilyn Schaffer Chief Executive Officer | WixSentryBootstrap+20 | — | — |
| 7 | Dream Payments APIs for inbound and outbound payments | $20M | 71 mo ago | Series A | 37 | Long Van Co-Founder & CTO | — | 7 patents Secure element provisioning and activation for payment card and mobile wallet systems | 2 job openings |
| 8 | Dream Payments Provider of embedded payment solutions for financial institutions and software platforms | $19M | 102 mo ago | Series A | 43 | — | WixSentryBootstrap+14 | 7 patents Secure element provisioning and activation for mobile payment and digital wallet systems. | — |
| 9 | Buckzy Cross border money transfer service provider | $16M | 42 mo ago | Series A | 62 | Abdul Naushad President & CEO | — | — | — |
| 10 | Venn Financial technology company offering end to end platform for businesses 67Tech top 24%Growth top 28%Talent top 38%Funding top 42% All 6 signals ▾Techtop 24% Growthtop 28% Talenttop 38% Fundingtop 42% Marketbottom 47% Globalbottom 45% Tech: 50 technologies across 6/8 capability areas · Cloud: Amazon Alb, Amazon Cloudfront Growth: Web rank 5,000,000 → 1,000,000 YoY · Fresh capital in last 24 mo rank vs industry peers · Fliar Intelligence Index 67/100 | $15M | 15 mo ago | Series A | — | Saud Aziz Co-Founder | Webflow EcommerceWebflowKnockout.js+30 | — | — |
| 11 | Merrco Provider of payment processing services | $11M | 24 mo ago | Series A | 33 | — | — | — | — |
| 12 | TipTap Wireless mPOS device for microtransactions | $9M | 43 mo ago | Series A | 45 | — | Cart FunctionalityWordPressApple iCloud Mail+38 | — | 2 job openings · 1 partnership |
| 13 | Savvii Payment card solutions for individuals | $8M | 50 mo ago | Deadpooled | 13 | — | — | — | — |
| 14 | Mint Provider of payroll processing, card issuance, and mobile wallet financial services | $8M | 93 mo ago | Public | — | Vishy Karamadam Chairman & CEO | — | — | — |
| 15 | TODAQ Open banking API solutions for micropayments | $5M | 80 mo ago | Series A | 12 | Toufi Saliba Co-Founder | — | — | 1 launch · 1 partnership |
| 16 | Cybrid Provider of API infrastructure for stablecoin payments, compliance, and treasury 50Growth top 20%Talent top 28%Tech top 44%News top 44% All 10 signals ▾Growthtop 20% Talenttop 28% Techtop 44% Newstop 44% Fundingbottom 49% Innovationbottom 45% Productbottom 45% Moatbottom 38% Globalbottom 32% Marketbottom 30% Growth: Web rank 10,000,000 → 1,000,000 YoY · Fresh capital in last 24 mo Talent: 4 named leaders on record · 4 C-suite/founder profiles curated rank vs industry peers · Fliar Intelligence Index 50/100 | $4M | 7 mo ago | Series A | 13 | Ali Irshad Co-Founder & Head of Sales & Partnerships | WebflowThree.jsGSAP+24 | — | — |
| 17 | Fyncr Reward-based platform for credit card bill payments | $3M | 52 mo ago | Seed | 5 | — | — | — | — |
| 18 | HonkMobile App-based marketplace for parking spaces | $3M | 128 mo ago | Seed | 29 | Raj Iyer Co-Founder & Coo | WordPressMySQLPHP+31 | — | — |
| 19 | Aya Provider of employee prepaid cards for healthcare payments | $3M | 67 mo ago | Seed | 19 | Chanddeep Madaan CEO and Founder | WordPressMySQLPHP+37 | — | — |
| 20 | Soundpays Payment via sound waves | $2M | — | Seed | 9 | — | — | 10 patents Audio-based data encoding/decoding and interactive signal-mediated communication technologies. | — |
| 21 | First Global Data Mobile payment service provider. | $1M | 153 mo ago | Late Stage | 16 | — | — | — | — |
| 22 | Chexy Rent payment with credit builder solution for tenants 45Growth top 35%Tech top 35%Talent top 38%Funding top 42% All 9 signals ▾Growthtop 35% Techtop 35% Talenttop 38% Fundingtop 42% Moattop 48% Productbottom 48% Newsbottom 42% Globalbottom 37% Marketbottom 25% Growth: Fresh capital in last 24 mo Tech: 34 technologies across 5/8 capability areas · Cloud: Cloudflare, Vercel rank vs industry peers · Fliar Intelligence Index 45/100 | $974K | 2 mo ago | Series A | 10 | Ben Gigone Co-Founder & CTO | TurbopackApple iCloud MailGoogle Workspace+23 | — | — |
| 23 | Glowstick AI platform identifies upsell and cross-sell opportunities from customer meeting recordings | $955K | 39 mo ago | Seed | 7 | — | — | — | — |
| 24 | Virtual Next Developer of digital wallet software for loyalty and payment programs | $200K | 154 mo ago | Seed | 5 | — | — | — | — |
| 25 | WeReno Online platform for home renovation payments | $125K | 51 mo ago | Seed | 2 | Amrit Randhawa Co-Founder & COO | — | — | — |
| 26 | Distributed ID Open banking API for sharing payment & identity data | $120K | 96 mo ago | Deadpooled | 1 | Merrick Read Co-Founder & CEO | — | — | — |
Top 12 Payments companies in Toronto
#1
Series D · Toronto, Ontario · founded 2014 · 270 employees$356.4Mraised▾
Koho is an internet-first bank for individuals. It offers services such as savings & deposit accounts, NFC-enabled prepaid cards for online/offline purchases, and more. It enables users to track spendings and savings. It categorizes expenses made through the card. It features savings module that automatically puts money aside and helps users save. It provides an app-based platform that is available on iOS & Android devices.
- Apr 2025Series D$10.8M
- Oct 2024Series D$29.6M
- Oct 2024Conventional Debt$111M
- Dec 2023Series D$63.3M
#2
Series A · Toronto, Ontario · founded 2022 · 10 employees$974.4Kraised▾
Rent payment with credit builder solution for tenants. The company's platform allows tenants to send money online to their landlords, earn rewards, and built credit points and also facilitates the points to be redeemed in order to access exclusive membership perks and discounts.
- Mar 2026Series A$10.2M
- Jun 2024Seed$3M
- Feb 2023Seed$974.4K
- Jul 2022Seed—
#3
Series A · Toronto, Ontario · founded 2021 · 13 employees$3.8Mraised▾
Provider of API infrastructure for stablecoin payments, compliance, and treasury. The platform facilitates movement between stablecoins and fiat currencies. It offers tools for KYC/AML verification, liquidity access, settlement, and custody management. The infrastructure supports cross-border remittance, B2B payments, and banking solutions through accounts and payment orchestration.
- Oct 2025Series A$10M
- Apr 2022Seed$3.8M
#4
Series B · Toronto, Ontario · founded 2015 · 105 employees$24.7Mraised▾
Manufacturer of trolleys and trams
- Oct 2024Series B$23M
- Sep 2023Series A$1.1M
- Jul 2023Series A$200K
- Jul 2023Series A$1M
#5
Series A · Toronto, Ontario · founded 2021$15.1Mraised▾
Financial technology company offering end to end platform for businesses. It is a technology company that provides a range of solutions for enterprise businesses, including security, infrastructure, and financial management. The product modules include corporate cards, invoicing, accounting automation, investment management and more. The company also offers financial management and other business solutions. It is a tool available on the subscription based pricing model.
- Feb 2025Series A$15.1M
#6
Series C · Toronto, Ontario · founded 2017 · 44 employees$101.8Mraised▾
NFC-enabled credit card payment solution for individuals. Provides credit cards for families and individuals with contactless payments, offline purchases, money transfers, and other solutions. Offers a loyalty program. Allows users to redeem their loyalty points at any purchase and also offers installment financing on purchases from the retailer through its app-based platform. Application is made available on iOS, and Android devices.
- Apr 2024Series C$85M
- Mar 2021Series B$16.8M
#7
Series A · Toronto, Ontario · founded 2016 · 33 employees$11.2Mraised▾
Provider of payment processing services
- May 2024Series A$1.2M
- Dec 2017Series A$10M
#8
Public · Toronto, Ontario · founded 2006$20.5Mraised▾
Provider of earned wage access platform for service-focused businesses. The platform allows businesses to offer on-demand payments to staff. It provides faster access to earned wages and gratuities. The platform also offers benefits such as cash-back rewards and budgeting insights. The company offers mobile apps, web portals, and APIs.
- Dec 2023Post IPO$11M
- Sep 2021Post IPO$8.6M
- Mar 2021Post IPO$922.3K
#9
Series B · Toronto, Ontario · founded 2015 · 93 employees$26.4Mraised▾
Provider of accounts payable and accounts receivable automation software solutions. The software simplifies payment and accounting processes for businesses. It offers features such as invoice management, online payments, and integration with accounting platforms. The platform allows for team collaboration, secure transactions, and customizable workflows.
- Dec 2022Series B$20M
- Apr 2021Series A$6.4M
- 2016Seed—
- Apr 2015Seed—
#10
Series A · Toronto, Ontario · founded 2018 · 62 employees$16.2Mraised▾
Cross border money transfer service provider. Provides money transfers for consumers and small businesses. Services offered include bank account transfers, digital wallet transfers, email money transfers, multi-currency transfers, personal bill payments, and local currency wallets.
- Dec 2022Series A$14.5M
- Apr 2019Seed$1.8M
#11
Series A · Toronto, Ontario · founded 2018 · 45 employees$8.8Mraised▾
Wireless mPOS device for microtransactions. Allows merchants to accept digital payment source, processor or loyalty program. Provides real‑time monitoring and customizable dashboards. Features include unit‑by‑unit performance comparisons, real‑time notifications, and customizable goals or sales targets.
- Oct 2022Series A—
- Feb 2021Series A$8.8M
#12
Acquired · Toronto, Ontario · founded 2005 · 162 employees$45Mraised▾
Ethoca provides fraud protection solutions for omnichannel retailers. Its online platform is a network for card issuers and merchants to connect and work cooperatively outside the payment network. It connects card issuers to online merchants to stop fraud that slips through their defenses and recapture lost revenues. Ethoca helps prevent chargebacks and reduce CNP fraud by closing the information gap between the card issuers and merchants, making this valuable information securely available in real-time. Its direct-from-source card issuer data is used by merchants to stop the fulfillment of goods and services tied to fraudulent accounts on orders they are actively processing. It allows issuers to significantly reduce the time it takes to recover card-not-present fraud and customer disputes from days to hours, reduce overall chargeback volumes, improve customer satisfaction scores and reduce customer complaints.
- Jul 2015PE$45M
- PE—
Funding & investor landscape
Notable founders
Market landscape — 10 sub-themes by coverage
Share of Payments coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
How research on Digital Payments is moving in Canada
A read on the academic research around Digital Payments — which themes are gaining ground, the institutions and researchers driving them, and how the tone is shifting. Based on 183 Canada-affiliated papers.
- Bank of Canada41
- University of British Columbia7
- Assumption University7
- Ministry of Health7
- Toronto Metropolitan University6
- Payment system1→4
- Mobile payment3→5
- Mobile payment7→17
- Payment system1→4
- Payment system3→16
- Mobile payment8→11
- Settlement (finance)1→4
- Payment service provider2→4
Where digital payments is researched across Canada
Location clusters by institution affiliation — each city's volume, stance tone, and a quick read on its hot topic, what's advancing, the opening opportunity, and the main concern.
Who's filing digital payments patents in Canada
Canada digital payments patent filing is cooling — 221 filings from 112 assignees (2016–2025), led by Canada 10353744, Riavera, JJ Mackay Canada; annual filings 107→3.
- Canada 10353744136
- Riavera24
- JJ Mackay Canada20
- Itwaru MARK19
- Research IN Motion13
- ROY Matthew11
- Moneris Solutions7
- Instant Financial6
Common questions
Rohit lives in the feed. He covers what's moving right now — the funding rounds, launches and shifts breaking across the trade press — and ties them back to where the sector is heading.