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← Embedded Finance Index 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
3
regulatory licences held by Shakepay
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
3 layers disclosed in Shakepay’s embedded-finance stack
Money movement
Wire
Card issuing
in the full report
Lending
in the full report
Accounting gap: minor
2 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.

Shakepay — frequently asked

Which payment rails does Shakepay use?

Shakepay moves money over Wire.

Who issues Shakepay's cards?

Shakepay's cards are issued through Marqeta.

What is Shakepay's embedded finance stack?

The Embedded Finance Index 2026 maps 3 layers in Shakepay's stack: Money movement (Wire); Card issuing (Marqeta); Lending (Bitcoin-backed loans (crypto collateral, CAD/USD, up to $50,000 CAD, 9.5% APR)).

Where is Shakepay headquartered?

Shakepay is founded in 2015 and headquartered in Montreal, Quebec, Canada.

How much funding has Shakepay raised?

Shakepay has raised $36.0M in total (latest round: Series A, 2022).

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