Stripe opens office in Toronto, strengthening its commitment to Canadian business
Stripe opens office in Toronto, strengthening its commitment to Canadian business
The American technology company Stripe has announced the opening of a new flagship office in Toronto, marking a significant milestone in the company's expansion in North America. This move highlights Toronto's position as the fourth-largest market for tech talent on the continent and strengthens Stripe's commitment to the Canadian market.
The company has long served some of Canada’s fastest-growing startups and major enterprises, including Shopify, Enercare, FreshBooks, and SkipTheDishes, alongside platforms such as Workleap and Thinkific.
"After more than a decade in Canada, we are proud to support many of the country's most successful startups and enterprises, with thousands of Canadian companies starting with Stripe every day. We look forward to expanding our team and accelerating the success of even more Canadian companies," emphasized Matthew Burlak, head of Canada GTM at Stripe.
Stripe’s impact in Canada has become particularly evident in recent years, with payment volumes from Canadian companies on the platform growing by more than 50% between 2021 and 2023. This growth is driven by an increasing number of Canadian businesses using Stripe’s services and long-standing users expanding their operations with Stripe’s innovative tools. One notable partner, Shopify, a global leader in e-commerce, uses Stripe for Shopify Payments, Shopify Balance, and in-person payments.
Kaz Nejatian, Chief Operating Officer at Shopify, commented on the partnership, stating, "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 that other Canadian companies will benefit from Stripe’s growing commitment and long-term investment in Canada."
Over the past year, Stripe introduced several products and features aimed at driving growth for Canadian businesses:
- Stripe Payments: A platform that allows companies to sell in more than 195 countries in 135 currencies with over 100 payment methods. More than half of Canadian Stripe users already sell internationally, benefiting from features like adaptive pricing, which adjusts prices for customers across more than 150 markets.
- Tap to Pay on iPhone: A contactless payment solution supporting Interac Debit without additional hardware.
- Amazon’s Just Walk Out technology: This feature creates a seamless shopping experience at venues like Scotiabank Saddledome and Scotiabank Arena, eliminating checkout lines for customers.
- Stripe Billing: A tool supporting usage-based billing that allows businesses to track and charge customers based on their usage of products and services.
With the opening of its new office at 1 University Avenue in Toronto, Stripe is actively hiring for roles in engineering, product management, sales, and design, with further expansion planned for the near future.
These developments position Stripe to continue driving innovation and growth for Canadian businesses, further solidifying its role as a key player in the global financial infrastructure space.
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