Keep has emerged from stealth with $108 million in funding, the Toronto startup announced this week.
The Canadian fintech offers an all-in-one financial platform built exclusively for small businesses.
“Traditional banks have failed Canadian entrepreneurs for too long,” posits Oliver Takach, a serial entrepreneur who cofounded Keep.
Fintechs like Brex, Mercury, and Ramp have transformed small business banking in the US market, but Canadian entrepreneurs lack similar options, Takach argues.
“We’re building the financial operating system that Canada’s small businesses actually need,” he says. “One that provides the technology, tools, and services to help them thrive.”
These tools include no-fee global banking, expense automation, and rewards-based business credit cards.
Keep’s round of funding includes $33 million in equity financing led by Tribe Capital as well as a $71 million credit facility from Coventure and a $4 million venture debt line from Silicon Valley Bank.
“This funding brings us one step closer to our ultimate goal: ensuring that no Canadian entrepreneur’s vision is constrained by access to fair, flexible financial services,” stated Takach.
The idea for the startup was sparked by Takach’s firsthand experiences, the chief executive officer says.
“Keep was born from my own frustration with fragmented systems and banking inefficiencies,” Takach explained.
In 2024, Keep achieved $20 million in annualized revenue, the fintech revealed.
“Keep’s incredible growth and product adoption is far beyond what we see in high growth companies at their stage today,” noted Arjun Sethi, a cofounder of Tribe Capital.
“We’re excited to support Keep as it redefines how businesses manage operations and cash flow, empowering them with smarter, more flexible financial solutions,” the investor continued.
By 2027, Keep aims to serve 100,000 small businesses across Canada, according to Takach.
Keep was conceived in Toronto in 2022.
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