Float’s mission is to simplify spending for companies and teams by offering Canada’s first high-limit, no personal guarantee corporate card that can be activating to start spending in 3 business days or less.
The financing round also included existing investors Golden Ventures, Susa Ventures, Michael Hyatt, Tiny Capital, Garage Capital, A-Star, and Global Founders Capital.
The new round of capital will help Float further invest in their goal of creating Canada’s best corporate card and all-in-one spend management software.
According to Float they are now one of the fastest-growing companies in Canada. Since their public launch earlier this year, they’ve seen hundreds of companies adopt Float for business spending. Moreover, they’ve seen engagement on the platform skyrocket.
The total payment volume on Float has increased ~20x since their seed financing round in June 2021, and their average monthly customer spend has increased more than 6x since their public launch in March 2021.
Float was founded by Waterloo’s computer science and business grads Griffin Keglevich and Ruslan Nikolaev.