The people
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Working at Beacon
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About
Beacon (My Beacon) is a fintech super app designed around the immigrant journey to Canada. It offers account setup with minimal documentation, pre-arrival access to credit building and information, real-time bill payment to home countries (starting with India), and money transfers — framing users as members and prioritizing human outcomes over pushing products. Founded in 2023 by Stu Szabo (ex-PSP Investments) and Aditya Mhatre (ex-Paytm, PayPay), it is based in Toronto and raised a $5.25M seed round in 2024, followed by a $20M round in September 2026 led by existing investors.
Backers
$5.25M CAD seed (2024) with investors including Jawl Residential Group, Wayne Pommen, Adrian Rocca, Jonathan McCain and MS Transverse Insurance Group; a $20M round in September 2026 led by existing investors, with new backers not named. Founders are Paytm and PSP Investments alumni.
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Quick answers
What does Beacon do?
It's a fintech super app for immigrants to Canada — pre-arrival credit building and information, real-time bill pay to home countries, money transfers, and account setup with minimal documentation.
Who founded Beacon?
Stu Szabo (co-founder & CEO, ex-PSP Investments) and Aditya Mhatre (co-founder & CPTO, ex-Paytm and PayPay), in 2023.
How much has Beacon raised?
A $5.25M CAD seed round reported in 2024, and a $20M round announced in September 2026, led by existing investors.