Calgary-headquartered fintech Finofo has closed a $3.3 million oversubscribed seed round to reimagine how mid-market companies manage cross-border financial operations.
Led by Watertower Ventures with participation from existing investors such as Motivate Venture Capital and SaaS Ventures, the round brings Finofo’s total funding to over $5 million.
Co-founded by institutional FX expert Prateek Sodhi and former National Bank financial engineer Charles Maranda (pictured), Finofo offers a comprehensive platform for managing international payments, foreign exchange, and financial reconciliation—all with embedded compliance and fraud-prevention tools.
“Mid-market companies have been left behind by both traditional banks and most fintechs,” said Sodhi. “We’ve built a solution that cuts through red tape, reduces costs, and delivers real-time control.”
Finofo’s tech replaces slow EFT-based systems and fragmented finance tools with real-time visibility, multi-currency management, and instant payment card freezing to combat fraud. Unlike many fintechs targeting microbusinesses, Finofo is focused on serving businesses with 50+ employees—those often handling complex global financial operations without the institutional resources of large corporations.
With over 180 clients across North America and an annual revenue run rate of $1.8 million, Finofo has quietly grown into a rising force in cross-border fintech. The platform is particularly suited to companies with U.S. and Canadian operations, enabling efficient treasury management and reducing FX losses across entities.
The funding arrives at a time when financial infrastructure and fraud prevention are top priorities, as discussions at the G7 and within Canada’s new federal leadership under Prime Minister Mark Carney signal forthcoming regulatory attention to cross-border finance and payment modernization.
Finofo joins the ranks of Canadian fintech innovators rewriting the rules of global commerce—one workflow at a time.
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