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- Float Financial Secures $70M Series B to Revolutionize Canadian Business Finance
Float Financial Secures $70M Series B to Revolutionize Canadian Business Finance
Slice of Finance Team
15 Jan
Key Highlights:
Float Financial raises CAD $70M Series B, bringing total funding in 12 months to CAD $120M.
Led by Growth Equity at Goldman Sachs Alternatives, with participation from OMERS Ventures, FJ Labs, Teralys, and Garage Capital.
Achieved 45x growth in TPV, 50x revenue, and 140x credit issuance since November 2021 Series A.
Expanded product suite includes CAD/USD cards, high-yield accounts, automated accounts payable, and real-time financial insights.
Plans to broaden product offerings, attract top talent, and solidify market leadership.
Source: Business Wire
Notable Quotes:
“Float’s mission is simple: cut through the red tape and give businesses the financial tools they need to move faster. This investment will fuel our mission to support thousands more with the financial solutions they need to lead Canada into the future.”
“We are thrilled to support Float in its next phase of expansion, as it makes innovative business finance solutions more accessible to Canadian businesses.”
Why This Matters:
Float Financial’s latest funding highlights its rapid growth and pivotal role in modernizing business finance for Canadian companies. As businesses increasingly seek efficient, flexible, and scalable financial tools, Float’s solutions stand out by streamlining expense management, enhancing cash flow visibility, and providing seamless financial operations. The Series B funding, especially during uncertain economic times, signals investor confidence in Float’s innovative approach and commitment to driving Canada’s economic resilience and competitiveness on a global scale.