Canadian fintech Float Financial has raised $48.5 million (CAD 70 million) in Series B funding to support the growth of its business finance platform.Float Financial bags $48.5m Series B led by Goldman SachsGrowth Equity at Goldman Sachs Alternatives led the round, which also saw participation from existing investor Garage Capital and new investors OMERS Ventures, FJ Labs and Teralys.While the company’s exact valuation following the raise has not been disclosed, Float confirms that the round closed at “a higher valuation compared to its Series A”, which was led by Tiger Global and saw the company raise $30 million.Float also secured a $35 million (CAD 50 million) credit facility with Silicon Valley Bank (SVB), a division of First Citizens Bank, last February.Founded in 2019, Float’s business finance platform features a suite of products including multi-currency virtual and physical corporate cards, bill pay, fund transfer, expense management and accounts, with the aim to give “finance teams everything they need to manage spending and cash flow efficiently”.Latest additions to its integrated product suite include automated accounts payable (AP) functions, reimbursements and company spending insights. The company adds that it “significantly expanded its expense management software and corporate cards offering” over 2024.Float says it will use the investment to “further broaden its product suite” and “attract top talent” as it looks to expand its offering in Canada.
Mer. Gen 15th, 2025
