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Float Financial announced a CAD $70 million Series B on January 13, 2025, led by Growth Equity at Goldman Sachs Alternatives. The Canadian business-finance platform said it would use the funding to expand its products, hire talent and reach more businesses across Canada. The announcement stated the round in Canadian dollars; the US-dollar figure in the original headline is not independently confirmed by the company’s cited materials.
Who invested in Float’s Series B?
Float announced the CAD $70 million round on January 13, 2025. Growth Equity at Goldman Sachs Alternatives led it. OMERS Ventures, FJ Labs, Teralys and existing investor Garage Capital also participated, according to Float’s announcement.
The company said the capital would support three priorities: broadening its product suite, attracting talent and extending its reach across Canada. The announcement did not allocate specific amounts to those plans.
What growth did Float report?
Float said it had 4,000 business customers when it announced the financing. It also reported these changes since its November 2021 Series A:
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- Total payment volume grew 45x.
- Revenue grew 50x.
- Assets under management increased 30x.
- Credit issuance expanded 140x.
These are company-reported multiples, not independently verified performance figures. Float’s announcement did not provide the absolute values behind each metric, so the multiples show reported growth from the stated baseline rather than the scale of each business measure.
What Float offers Canadian businesses
Float describes itself as a business-finance platform for Canadian companies. Its current product lineup includes corporate cards, expense management, reimbursements, payments, foreign exchange, business accounts and accounting integrations. Its cards use either a charge, or credit-based, funding model or a prepaid model. Float says CAD cards are issued by Visa and USD cards by Mastercard. See Float’s product information for current features and terms, which can change.
The phrase “aims to be the Brex of Canada” is a characterization of Float’s positioning, not a formal slogan established by the company announcement. Float CEO Rob Khazzam described the broader goal this way: “Our financial system needs to match the speed and ambition of Canadian businesses if we want to thrive locally and compete globally.”
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Float’s later financing was separate from the Series B
In January 2026, Float announced nearly CAD $100 million through two debt facilities and said it served more than 6,000 Canadian businesses. That financing was separate from the CAD $70 million Series B announced in January 2025. The 2026 announcement also referred back to the Series B and its lead investor, Goldman Sachs Alternatives.
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