Shift Connect

What Shift Connect does

Shift Connect is a Calgary-based privately held Canadian financial services company specializing in foreign exchange and global payments for both businesses and individuals. Founded in 2006, the company operates across six Canadian offices (Calgary HQ, Edmonton, Montreal, Toronto, Vancouver, Winnipeg) with US payment services delivered through Visa Global Services Inc. and global infrastructure powered by Currencycloud. Its service portfolio covers global money transfers in 130 currencies with local payment capabilities in 30 countries, multi-currency accounts holding up to 60 currencies, hedging and treasury services (FX forwards and options), and a Global Business Account for receiving cross-border payments without wire delays.

The company's platform combines a self-serve digital onboarding and transaction interface with a relationship-led enterprise sales motion, including dedicated relationship managers and consultation-based onboarding. Technology infrastructure includes real-time currency conversion, multi-layered security (TLS encryption, 2FA, RBAC, continuous monitoring, regular audits), and multi-currency account architecture. Revenue is generated primarily through transaction-based fees on currency conversions and international payment processing, with no publicly disclosed pricing tiers. Customer segments span SMBs, mid-market, and enterprise across industries including construction, professional services, retail, and digital marketing, alongside individual clients handling remittances, property purchases, tuition, and international investments.

Shift Connect is regulated by FINTRAC (MSB registration M17886614), FinCEN (via VGSI), and was among the first MSBs registered as a Payment Service Provider under Canada's Retail Payment Activities Act in December 2025. In March 2026, the company announced the acquisition of Olympia Currency and Global Payments Inc. from Olympia Financial Group Inc., pending Bank of Canada approval with expected close by March 31, 2026. The company has 5,000+ international clients and reports "Billions" in annual currency volume traded, though no revenue figures are publicly disclosed. Leadership includes CEO Dave Kelcher and Chief Trading & Risk Officer John Hayes.

Name

Shift Connect

Legal name

Shift Connect Ltd.

Website

https://shiftconnect.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

101–250 employees

Short description

Shift Connect is a Calgary-based Canadian financial services company providing foreign exchange and global payments services, including multi-currency accounts, international money transfers across 130 currencies, and hedging and treasury services, to 5,000+ business and individual clients across North America, Europe, and Oceania.

Ownership category

akta.pro rank

Product category

Foreign Exchange & Global Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Cross-Border & FX Payments Platforms (BPAMAFAK)

akta.pro secondary industry

Remittance & Cross-Border Payment Rails (SWIFT, Local Clearing, RTP Connectivity) (FSAGAKAH)

Keywords

• Foreign exchange services
• Global payments platform
• Multi-currency accounts
• Cross-border money transfers
• FX hedging and treasury

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Foreign Exchange Transaction Revenue: Revenue generated from currency exchange margins and transaction fees on global money transfers and foreign exchange services. The company offers competitive exchange rates and charges transparent fees for international payment processing.
2. Multi-Currency Account Services: Revenue from multi-currency account holders who transact across multiple currencies, generating fees from currency conversions and international payment processing.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

Shift Connect delivers foreign exchange and global payments services to businesses and individuals through a proprietary digital platform. Its core products include multi-currency accounts supporting 60 held and 130 transactable currencies, real-time international money transfers with local payment capabilities in 30 countries, and FX hedging and treasury solutions such as forwards and options. Revenue is generated primarily through FX margins and transaction fees on cross-border currency conversions and international payments.

Product overview

Shift Connect is a Canadian financial services company offering a unified platform for foreign exchange and global payments. The core offering consists of Global Money Transfers (supporting 130 currencies with local payments in 30 countries) and Multi-Currency Accounts (holding funds in 60 currencies), supplemented by Hedging and Treasury Services for FX risk management. The company also offers a Global Business Account for international payment reception and MarketWatch for market intelligence. In March 2026, Shift Connect expanded its portfolio by acquiring Olympia Currency and Global Payments, an Alberta-based boutique FX and payments firm, strengthening its position in the Canadian cross-border payments market.

Differentiator

Problem solved

Functional benefit

Products and services

• Foreign Exchange Solutions

Quantifiable outcome

• Save up to 2% in currency costs with Global Business Account
• +2 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core.

• Union FinancialcoreGTM or Marketing Partner · 27 March 2025Strategic partnership with Union Financial group of companies announced in March 2025. The partnership aims to deliver exceptional financial services through combined expertise in financial services and global payments. Shift Connect provides foreign exchange and international payment solutions while Union Financial offers lending and financial products.
• CurrencycloudcoreTechnology or IntegrationCurrencycloud provides regulated payments and e-money services infrastructure that enables Shift Connect to offer global banking network access and international payment capabilities. Currencycloud has obligations as a regulated financial services institution including overseeing complaints handling and ensuring compliance with regulations.
• Visa Global Services Inc. (VGSI)coreTechnology or IntegrationVGSI provides payment services in the United States, licensed as a money transmitter (NMLS ID 181032) in US states and by New York Department of Financial Services. VGSI is a registered MSB with FinCEN and registered Foreign MSB with FINTRAC. Provides live customer support at (888) 733-0041.
• Olympia Currency and Global Payments (OCGPI)coreStrategic or Co-development PartnerPending acquisition of Olympia Currency and Global Payments Inc., an Alberta-based boutique foreign exchange and global payments business serving individuals and small- to mid-sized businesses across Canada. Subject to Bank of Canada approval under Retail Payment Activities Act, expected to close by March 31, 2026.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Western Union: Western Union is a global incumbent in cross-border money transfers and FX services, serving both consumer and business segments. It is a broad incumbent peer offering overlapping capabilities but with a much larger consumer remittance focus than Shift Connect's enterprise-led model.
• MoneyGram: MoneyGram is a global cross-border P2P payments and money transfer company offering consumer and business services. It is a broad incumbent peer with overlapping FX and remittance capabilities but a much larger consumer retail footprint than Shift Connect.

Direct peers

• OFX: OFX is a global foreign exchange and international payments provider serving both businesses and individuals with multi-currency accounts, spot transfers, and forward contracts. It is a direct competitor to Shift Connect in the SMB and mid-market cross-border payments space with comparable product breadth.
• Remitly: Remitly is a digital remittance and cross-border payments company serving immigrants and individuals sending money internationally. It is a direct competitor in the cross-border money transfer category, with overlap on individual/consumer remittance use cases served by Shift Connect's private client segment.
• Wise: Wise (formerly TransferWise) offers multi-currency accounts and low-cost international money transfers to consumers and businesses across hundreds of corridors. It is a direct competitor to Shift Connect in the cross-border payments and multi-currency account category, with stronger consumer brand recognition globally.
• XE Money Transfer: XE (part of Euronet Worldwide) offers currency exchange, international money transfers, and multi-currency accounts for individuals and businesses. It is a direct peer to Shift Connect with comparable cross-border payment services and a strong FX brand.
• KnightsbridgeFX: KnightsbridgeFX is a Canadian foreign exchange and global payments company serving businesses and individuals with FX hedging, international payments, and multi-currency accounts. It is a direct domestic peer to Shift Connect in the Canadian boutique FX market with comparable customer segmentation.
• Cambridge Global Payments: Cambridge Global Payments (a Royal Bank of Canada subsidiary) provides foreign exchange and international payment solutions to mid-market and enterprise businesses. It is a direct competitor in the Canadian enterprise FX and cross-border payments segment.

Emerging players

• Veem: Veem is a business-focused cross-border payment platform offering multi-currency accounts and international transfers to SMBs. It is an emerging peer with overlapping business payments capabilities but a more technology-led positioning than Shift Connect's relationship-led approach.
• Currencycloud: Currencycloud (a Visa subsidiary) provides cross-border payments infrastructure and APIs that power platforms like Shift Connect. While not a direct consumer competitor, it is an infrastructure peer whose technology stack defines Shift Connect's product capabilities and cost structure.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks4 records

Key highlights6 records

Customer concentration

• GitHubgithub.com/ShiftConnectWebsite
• Facebookfacebook.com/ShiftConnectMoneyTransfer
• LinkedInlinkedin.com/company/shiftconnect
• Instagraminstagram.com/shiftconnect
• Xx.com/Shiftconnect

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shift Connect