Kanata’s L-Spark accelerator partners with payment processor Stripe

LeoLax
LeoLax

Kanata-based accelerator L-Spark has struck a partnership with one of Silicon Valley’s fastest-growing payment processors.

L-Spark, which got its start supporting SaaS companies in Ottawa but has since branched out to cyber, IoT and deep tech companies across Canada, announced last week it had signed a new agreement with Stripe to provide startups in its accelerator with the firm’s online payment platform.

Silicon Valley-based Stripe has garnered a fair share of attention – and funding – for its software that helps companies to process payments. Just last week the firm raised $245 million in financing following a $150-million round in 2016.

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L-Spark managing director Leo Lax said in a statement that becoming a Stripe partner will particularly benefit the accelerator’s SaaS firms as they attempt to scale internationally.

“SaaS companies depend on a reliable and global online payment system. Stripe provides not only a global facility, but a great partner for growth,” he said.

L-Spark’s latest agreement comes just a week after the organization announced it would partner with BlackBerry QNX for a new accelerator program focused on early-stage IoT, cybersecurity and embedded software firms. Applications for the six-month program close today.

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