Toronto-based Chexy has raised $14 million in a Series A round led by Khosla Ventures, with follow-on participation from Air Canada.
The company is building a payments platform that allows Canadians to earn rewards on essential expenses such as rent, taxes, and bills—categories that have historically not supported credit card payments. By enabling these transactions, Chexy is positioning itself within a new segment of the fintech market focused on unlocking value from non-discretionary spending.
“Before Chexy, trillions of dollars in essential payments generated zero rewards,” said co-founder and CEO Liza Akhvledziani Carew. “We built Chexy to change that.”
The platform integrates with partners including Aeroplan and American Express, extending loyalty and rewards programs into everyday financial activity.
The new funding will support expansion across Canada, growth of its partner ecosystem, and continued product development. Chexy is also seeing increasing adoption among small and medium-sized businesses using the platform for payroll, taxes, and vendor payments, alongside consumers seeking greater flexibility and returns on routine expenses.
Since launching in 2023, Chexy has grown to more than 200,000 users, who have collectively earned over $35 million in rewards and cashback. While the platform initially gained traction among renters, usage has expanded to include homeowners and businesses paying a wide range of recurring expenses.
The round comes amid ongoing pressure for Canadian startups to expand into the U.S. to access capital. Chexy remains headquartered in Toronto and is currently focused on the domestic market.
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