Toronto-based Float Financial has appointed Jack Fraser as its first chief financial officer as the company expands its AI-powered finance platform for Canadian businesses.
Fraser joins after approximately seven years as a partner at BDC Capital’s Growth Venture Fund. He led BDC’s investment in Float’s $85-million Series C earlier this year, according to BetaKit, making the appointment a move from backing the company to helping run it.
Before entering venture capital, Fraser held CFO and COO roles at itravel2000 and its parent Travelzest, and served as CFO of Montréal-based luxury ecommerce company SSENSE from 2016 to 2020. His investment experience includes Cohere, KOHO, Hopper, and Super.com.
“The pattern is consistent: finance operations quietly constrain growth and profitability long before anyone names it as the problem,” Fraser said in Float’s announcement.
Float co-founder and CEO Rob Khazzam said Fraser brings experience from both investing and operating as the company works to give finance teams more time for strategic decisions.
The company says it now serves more than 10,000 Canadian businesses through a platform combining corporate cards, expense automation, bill payments, and high-yield accounts. Its proprietary AI layer automates routine finance workflows.
The appointment follows Float’s $85-million Series C in June, led by Inovia Capital with participation from Goldman Sachs Alternatives and other investors, including BDC Capital and Northleaf. The all-equity round brought Float’s total debt and equity financing to $300 million.
At the time, Float reported more than 7,500 business customers and a 170-person team. BetaKit reports that its workforce has since reached 190 employees.
Float earmarked the financing for advancing Float Intelligence, expanding in Western Canada and Quebec, and hiring across product, research and development, sales, and marketing.
Fraser also pointed to Canadian financial infrastructure and data sovereignty as reasons for joining, positioning Float’s domestic focus as part of its appeal to growing businesses.
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