The new funding brings the company to a CAD 313 million valuation. The raise is led by QED Investors, a US-based venture capital firm that invests in businesses that disrupts and empowers the financial technology industry.
The funding will be used to scale Shakepay’s business and launch new products that make it easier for Canadians to gain access and exposure to the digital economy. With continued participation from Boost VC and BoxOne Ventures, the Series A round also included participation from Golden Ventures, Broadhaven, Henri Machalani, Mike Murchison, Jevon MacDonald, Mark MacLeod, Dan Debow, Farhan Thawar, and several product leaders from Shopify.
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