Revenue
| Metric | Value | As of | Source |
|---|---|---|---|
| Growth since Series A (company-reported) | 50x revenue, 45x total payment volume, 140x credit issuance | January 2025 | FinTech Futures (company release) |
| Business customers | Over 4,000 Canadian businesses | 2025 | Sacra |
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| Jan 2025 | Series B | C$70M | Not disclosed | Growth Equity at Goldman Sachs Alternatives (lead); OMERS Ventures, FJ Labs, Teralys, Garage Capital | FinTech Futures (company release) |
| Feb 2024 | Credit facility | C$50M | n/a (debt) | See source | Goodmans |
Investors
Overview
Float gives Canadian businesses corporate cards and software for managing company spending: expenses, bill payments, reimbursements and budgets, all in one place. It was built specifically for Canada. That matters more than it sounds, because many US spend-management companies either don't serve Canadian businesses well or handle Canadian dollars, taxes and banking as an afterthought.
Rob Khazzam, Griffin Khan and Ruslan Nikolaev founded Float in Toronto in 2019. Khazzam is CEO.
Funding history
November 2021: Float raised its Series A, the round the company now measures its growth from.
February 2024: a C$50 million credit facility. For a card company, debt like this funds the credit it extends to customers, so it supports growth without diluting shareholders.
January 2025: a C$70 million Series B led by Growth Equity at Goldman Sachs Alternatives, with OMERS Ventures, FJ Labs, Teralys and existing investor Garage Capital. Float said this brought its total funding raised in the previous 12 months to about C$120 million. It didn't disclose a valuation. It said the money would go into expanding its product, hiring and growing across Canada.
Revenue and growth
Float hasn't published a revenue figure. It has shared growth multiples instead: since its 2021 Series A, revenue has grown 50 times, total payment volume 45 times and credit issued 140 times. Multiples like these show momentum without revealing the size of the business, which is common in fintech announcements.
Research firm Sacra reports that Float serves more than 4,000 Canadian businesses and earns a significant share of revenue from software subscriptions, not just card interchange. That mix matters to investors: subscription revenue is generally more predictable and valued more highly than transaction fees.
The competitive picture
Corporate cards and spend management are crowded. Float competes with Canada's big banks, with US players expanding north, and with accounting and expense software adding cards of their own. Its strategy has been to go deep on Canadian needs, such as local currency, tax handling and integrations with Canadian accounting setups, rather than compete on global scale.
What this means if you're…
Selling to Float: a growth-stage fintech after a Series B typically spends on compliance, fraud prevention, data infrastructure and go-to-market tools.
Selling to Canadian SMBs: Float's customers are themselves growing Canadian businesses. Integrating with tools like Float can be a distribution route.
Tracking funded companies: Float's Series B is a textbook sales trigger: clear use of funds, named hiring plans and a fast-growing customer base.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What is Float's valuation?
Float has not publicly disclosed a valuation in the sources we track.
How much revenue does Float make?
Float is a private company and has not publicly disclosed its revenue. Estimates published by third-party sites are modelled, not reported by the company.
Who are Float's investors?
Investors named in public announcements include Goldman Sachs Alternatives, OMERS Ventures, FJ Labs, Teralys and Garage Capital.
When was Float founded and where is it based?
Float was founded in 2019 and is headquartered in Toronto, Ontario, Canada.