← State of Embedded Finance 2026

Shakepay

Can a bitcoin-native consumer app become the primary financial services platform for Canadians who want to earn, borrow against, and spend bitcoin?

Founded2015
HQMontreal, Quebec, Canada
Total raised$36.0M
Latest roundSeries A, 2022
IndustryFintech / Crypto
The story

Founded in 2015 as a simple buy/sell bitcoin app for Canadians, Shakepay evolved into a broader crypto-financial platform by adding peer-to-peer bitcoin payments and a Visa prepaid card with bitcoin cashback rewards via Marqeta. In 2025, the company achieved formal CIRO registration as an investment dealer and expanded to business accounts with wire and Interac e-Transfer support. In 2026, Shakepay Credit Inc. launched bitcoin-backed fiat loans, marking a move into embedded crypto lending and positioning Shakepay as a bitcoin-native financial services company for Canadian consumers.

Last 12 months
2025-01
2026-04
2026-04-21
Product timeline
2015
Shakepay founded in Montreal as a platform for Canadians to buy and sell bitcoin and pay friends via crypto.· pivot
2021
Launched the Shakepay Visa Prepaid Card in partnership with Marqeta, enabling bitcoin cashback rewards on purchases.· card
2022
Raised Series A funding; expanded user base past 420,000 Canadians and crossed $2B CAD in digital currency purchases.· banking
2025
Registered as an investment dealer with CIRO under exemptive relief, becoming a regulated crypto asset trading platform across all 13 Canadian provinces and territories.· banking
2026
Launched bitcoin-backed loans via Shakepay Credit Inc. with 9.5% APR and up to $50,000 CAD, following AMF and OSC exemptive relief decisions.· lending
Regulated entities
Investment Dealer (Crypto Asset Trading Platform)
Canada (CIRO) · 2025
Shakepay Inc.
Money Services Business (MSB)
Canada (FinTRAC / Revenu Québec)
Shakepay Financial Inc.
Exemptive Relief (Crypto-Backed Lending)
Canada (AMF / OSC) · 2026
Shakepay Credit Inc.
The stack
Card issuing
Marqeta
Lending
Bitcoin-backed loans (crypto collateral, CAD/USD, up to $50,000 CAD, 9.5% APR)
Accounting gap: minor