About Merrco
Merrco is a Financial Services company based in Toronto (Canada) founded in 2016. Payment processing services are provided by Merrco to businesses globally. Merrco has raised $11.25 million across 2 funding rounds. Merrco has completed 1 acquisition, including Payfirma. Its chief executive, as recorded, is Fern Glowinsky. Merrco offers products and services including PayHQ Platform, In-Person Payments, Ecommerce Payments, and Merchant Financing. Its focus areas include FinTech, Payments, Business Payments and Industry Specific. Its competitors include iCannaPay and CannaTrac Financial.
Company details
Merrco was established in 2016 in Toronto, Canada, where payment processing services are managed for commercial clients. Operations center on transaction facilitation within the financial technology sector, including secure payment gateways and integration support. The company is led by CEO Fern Glowinsky, with activities extending to various industries requiring efficient payment solutions. Geographic focus remains primarily in North America, supporting digital commerce needs.
- Headquarters Toronto, Canada
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website merrco.com
- Social LinkedIn X Facebook Instagram
- Total Equity Funding$11.25M (USD)
in 2 rounds
- Latest Funding Round$1.25M (USD), Series A
May 2024
- Investments & Acquisitions
Products & Services of Merrco
Merrco offers a comprehensive portfolio of products and services, including PayHQ Platform, In-Person Payments, Ecommerce Payments, and Merchant Financing.
Unified platform for managing various payment methods securely.
Secure terminal-based transactions for retail environments.
Secure online transaction processing for businesses.
Quick financing options for cannabis-related businesses.
Funding Insights of Merrco
Merrco has successfully raised a total of $11.25M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $1.25 million completed in May 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $11.25M
- Total Rounds 2
- Last Round Series A — $1.25M
- First Round $10M
(Dec 2017)
All 2 funding rounds of Merrco with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2024 | $1.25M | Series A | – | – | – |
| Dec 2017 | $10M | Series A | – | – | – |
People of Merrco
1 people are tracked at Merrco (1 in leadership).
| Name | Role | Group |
|---|---|---|
Fern Glowinsky | CEO | Leadership |
Complete people profiles for Merrco
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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- Team structure
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Investments & Acquisitions by Merrco
Merrco has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Payfirma.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Payment processing solutions are provided for businesses and merchants. | payfirma.com | Vancouver, Canada | 2011 | Feb 2018 | •••• |
Complete acquisition details for Merrco
Acquired stakes, deal sources and the complete acquisition history require an active premium plan.
- Acquired stakes
- Deal sources
- Complete history
- Exports
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Timeline of Merrco
4 dated milestones of Merrco across 8 years, from founding to its latest funding, stage changes and deals.
- Founded Merrco is founded.
- Funding First funding round of $10.0M.
- Acquisition Acquires Payfirma.
- Funding Latest funding round, Series A, of $1.2M.
Competitors of Merrco
Merrco has 2 listed competitors in our database. They include iCannaPay and CannaTrac Financial.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| icannapay.co.uk | 2022 | Vancouver, Canada | Provides payment processing solutions tailored to the cannabis industry. | |||
| cannatracfinancial.com | 1996 | Vancouver, Canada | Acquires tech companies to connect traditional and cannabis industries through payments and compliance. |
Detailed competitors of Merrco
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- Full competitor set
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Web traffic of Merrco
The website of Merrco (merrco.com) receives about 1.4K visits a month.
- Monthly visits1.4K
▼ 25.7% vs previous month
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Related news about Merrco
Complete news archive for Merrco
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Frequently Asked Questions about Merrco
Merrco was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Merrco is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
Fern Glowinsky is the CEO of Merrco, as recorded in our data.
Merrco is a funded company, having raised a total of $11.25M across 2 funding rounds to date. The company's 1st funding round was a Series A of $10M, raised on Dec 2017.
Merrco was established in 2016 in Toronto, Canada, where payment processing services are managed for commercial clients. Operations center on transaction facilitation within the financial technology sector, including secure payment gateways and integration support. The company is led by CEO Fern Glowinsky, with activities extending to various industries requiring efficient payment solutions. Geographic focus remains primarily in North America, supporting digital commerce needs.
Merrco's top competitors include iCannaPay and CannaTrac Financial.
Merrco offers PayHQ Platform, In-Person Payments, Ecommerce Payments, and Merchant Financing.
Merrco has made 1 acquisition, including Payfirma.