Venn recently unveiled a milestone.
The company targeting Canadian businesses says that its fintech platform now powers more than 10,000 customers nationwide.
Founded in 2020 by former Revolut employees Ahmed Shafik and Saud Aziz as Vault, Venn rebranded with $21M in capital in early 2025 and then doubled its customer base since November, when we reported on the Ontario startup having 5,000 customers.
Since the rebrand, Aziz says the team has also tripled in size.
Inspiration for launching the company came from within the entrepeneurs’ own households.
“Growing up watching our parents run businesses, we saw firsthand how broken and expensive banking felt for them,” says Aziz.
They noticed Canada’s financial system was not optimal when compared to other systems around the world.
“We had both seen what was possible globally and knew Canadian businesses deserved the same,” recalls Aziz.
In response, “We built Venn for every Canadian business, and seeing who is using it today is the most validating thing we could have asked for.”
At the core of the platform is Venn Intelligence, an AI layer across all products designed to make the entire experience more efficient.
The other key to success for Venn, according to Shafik, is actively adapting the product in reaction to users.
“Our customers don’t just use the product, they shape it,” he explains. “Every piece of feedback reaches the entire team in real time, and we build on it immediately.”
Challenging traditional institutions and an entrenched financial system, Venn aims to close the gap between venerable incumbents and emerging startups “one feature at a time.”
“Canadian businesses have been forced to stitch together banking, cards, payments, and software across multiple providers for far too long,” says Shafik. “We built Venn to replace all of that with a single platform that actually works the way modern companies operate.”
Moving forward, Shafik says Venn is now focused on its next milestone: 100,000 customers.
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