Payment services provider Stripe announced the opening of a new flagship office in Toronto on Thursday as it aims to expand its business in Canada.
Stripe Expansion Aims to Accelerate Canadian Business Growth
The company said in its press release that the expansion reflects the city’s growth as a tech hub and reinforces Stripe’s commitment to the Canadian market.
The company has seen significant growth in Canada over the past few years, with payment volume from Canadian businesses increasing by more than 50% between 2021 and 2023.
Stripe serves a wide range of Canadian businesses, from startups to large enterprises, including 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,” said Matthew Burlak, head of Canada GTM at Stripe.
“We’re looking forward to growing our team and accelerating the success of even more Canadian businesses,” he added.
Stripe has introduced several new products and features to help Canadian businesses grow, such as global expansion capabilities, contactless in-person payments, and complex revenue model support.
Shopify COO Kaz Nejatian noted the benefits of working with the payments services provider, saying it “trusts Stripe to always do the right thing for its customers.”
As Stripe continues to invest in Canada, the company is actively hiring for various roles across engineering, product management, sales, design, and more. This expansion is expected to further strengthen Stripe’s position in the Canadian market and provide valuable support to businesses of all sizes.
