Stripe, a financial infrastructure platform for businesses, has reportedly opened its new flagship office in Toronto.
The expansion reflects Toronto’s growth as the fourth-largest market “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, along with many of the country’s largest enterprises such as Shopify, Enercare, FreshBooks, and SkipTheDishes.”
Matthew Burlak head of Canada GTM at Stripe:
“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.”
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, along with long-standing users partnering with Stripe to launch new business models and expand their revenue streams.”
Shopify, a global ecommerce company “supporting millions of businesses, uses Stripe to enable Shopify Payments and Shopify Balance as well as in-person payments.”
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. More than half of Canadian businesses on Stripe already sell cross-border with new features like Adaptive Pricing, which localizes prices across 150 markets so their customers can pay in their home currency.
- 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. Stripe Billing is the company’s second product, along with its payments suite, to be ranked as a leader by industry analysts.
As Stripe moves into its new Toronto office at 1 University Avenue, the company is “hiring for roles across engineering, product management, sales, design, and more—with further expansion to come.”
