Montreal fintech startup Velix has raised $2 million in pre-seed funding to build a financial operations platform designed for logistics and supply-chain operators, as the sector grapples with growing complexity and margin pressure.
The round was led by Luge Capital, with participation from Stand Up Ventures and Accelia Capital. The company also announced that Nicholas Richards, co-founder of logistics software firm ShipHero, has joined Velix as an advisor.
Velix is positioning its platform at the intersection of logistics operations and finance—an area the company argues has been largely overlooked as supply chains scale and digitize.
Canada’s logistics market is forecast to reach $654 billion by 2030, according to industry estimates, while the federal government has committed $4.1 billion toward strengthening trade corridors and improving supply-chain resilience. At the same time, global trade dynamics are shifting, with supply chains moving closer to home and logistics providers facing increasing pressure to control costs while managing higher volumes.
As third-party logistics (3PL) providers expand, their role has evolved beyond physical operations. Many now act as financial intermediaries between carriers, brands, and end customers—responsible for reconciling freight costs, parcel charges, accessorial fees, and customer billing across increasingly fragmented networks.
Despite this complexity, many operators still rely on manual processes involving spreadsheets, email, paper invoices, and disconnected legacy systems. These workflows, Velix says, are slow, error-prone, and difficult to scale, often resulting in margin leakage, billing disputes, and delayed cash collection.
Velix’s platform aims to automate freight and parcel reconciliation, customer billing, and dispute resolution within a single system, allowing logistics finance and operations teams to collaborate more effectively.
“Logistics has invested heavily in moving goods more efficiently, but little innovation has occurred on the financial layer,” said David Nault, partner at Luge Capital. “That gap has created massive inefficiencies as volume increased.”
Richards, whose experience spans working with logistics operators of varying sizes, said billing remains one of the sector’s most persistent pain points.
“Clunky and time-consuming billing processes create real cashflow drag,” Richards said. “What the Velix team is building addresses a critical and underserved part of the logistics stack.”
Velix said the new capital will be used to grow its team, expand product capabilities, and support go-to-market efforts across new customer segments and geographies, as the company moves toward general availability of its platform.
As logistics networks continue to scale across Canada, Velix is betting that modernizing the financial backbone of the industry will be as important as optimizing how goods move from point A to point B.
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