- Companies
- Float Financial
Float Financial Valuation, Funding & Investors
Float Financial is valued at $396M as of June 2026.
Last Float Financial valuation
$396M
Series C · Jun 2026
Last Float Financial funding round
$61M
Series C · Jun 2026
Cumulative funding Float Financial raised
$143M
across 4 funding rounds
Key investors in Float Financial
Garage Capital
Goldman Sachs Asset Management
Golden Ventures
Tiger Global
FJ Labs
Global Founders Capital
About Float Financial
Float Financial is a Toronto-based business finance platform offering corporate cards, bill pay, expense management, high-yield accounts, and credit products for Canadian businesses, with clients including Jane Software, LumiQ, and Knix. The company has since expanded into business banking accounts and lending products alongside its original card and expense-management offering.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$396M (Jun 2026)
Float Financial Valuation
Float Financial is currently valued at $396M, based on its Series C in June 2026.
The $61M round was led by Inovia Capital, with participation from Northleaf Capital Partners, BDC Capital, Garage Capital and Goldman Sachs Asset Management.
Float Financial valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jun 2026 | Series C | $396M |
Float Financial Funding History
Float Financial has raised a total of $143M across 4 funding rounds.
Float Financial's first fundraising round was a $4M seed round in July 2021. The most recent completed round was a $61M Series C in June 2026.
Float Financial funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2026 | Series C | Inovia Capital (lead); Northleaf Capital Partners; BDC Capital; Garage Capital; Goldman Sachs Asset Management | $61M | $396M | - |
| Jan 2025 | Series B | Goldman Sachs Asset Management (lead); FJ Labs; Teralys Capital; OMERS Ventures; Garage Capital; Golden Ventures | $49M | - | Float Financial is a Toronto-based business finance platform offering corporate cards, bill pay, expense management, high-yield accounts, and credit products tailored for Canadian businesses, serving clients like Jane Software, LumiQ, and Knix. On January 13, 2025, it announced a CAD $70 million Series B equity round led by Growth Equity at Goldman Sachs Alternatives, with participation from OMERS Ventures, FJ Labs, Teralys Capital, and existing investor Garage Capital, bringing total funding in the prior 12 months to CAD $120 million including a February 2024 credit facility. The funds are earmarked for product expansion, talent acquisition, and coast-to-coast market leadership in Canada. Since its November 2021 Series A, Float has achieved explosive growth metrics: 45x increase in total payment volume (TPV), 50x revenue growth, 30x rise in assets under management (AUM), and 140x expansion in credit issuance, while maintaining top-quartile capital efficiency. The company reported over 4,000 business customers at the time of the announcement, with the round featuring a higher valuation than the prior Series A despite economic headwinds. CEO Rob Khazzam highlighted the investment's role in empowering Canadian businesses with innovative finance tools. Goldman Sachs' Clare Greenan praised Float's customer-centric platform and Canadian focus. Subsequent developments include a September 2025 launch of a business account product and nearly $100 million CAD in debt facilities in January 2026 from Silicon Valley Bank and another lender to support lending and high-interest offerings amid rate cuts. Sacra estimates total equity funding at $92.6 million through January 2025. |
| Nov 2021 | Series A | Tiger Global (lead) | $29M | - | - |
| Jul 2021 | Seed | Golden Ventures (lead); Susa Ventures (lead); Tiny Capital; Cowie Capital Partners; Global Founders Capital; Garage Capital | $4M | - | - |
Who has invested in Float Financial?
14 investors have backed Float Financial across its funding rounds, including Garage Capital, Goldman Sachs Asset Management, Golden Ventures, Tiger Global, FJ Labs and Global Founders Capital.
Lead investors include Inovia Capital, Goldman Sachs Asset Management, Tiger Global, Golden Ventures and Susa Ventures.
Float Financial Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Participant | Jul 2021 | ||
| 2 | Lead | Jan 2025 | ||
| 2 | Lead | Jul 2021 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Lead | Jul 2021 | ||
| 1 | Participant | Jan 2025 | ||
| 1 | Participant | Jan 2025 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Jun 2026 | ||
| 1 | Lead | Jun 2026 | ||
| 1 | Participant | Jan 2025 | ||
This data is available for Pro users. Sign up to see all 14 Float Financial investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialFloat Financial Competitors
Float Financial competitors include listed companies like BILL.com, Corpay and Miroku Jyoho Service, and private ones like Check, Found and Lentra.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $725M | - | ||
| Publicly listed | $1.7B | $34M | $4.1B | 2.4x | ||
| Publicly listed | $4.5B | $2.4B | $27B | 6.8x | ||
| Publicly listed | $315M | $58M | $396M | 1.1x | ||
| Private | $43M | - | $400M | 9.3x | ||
| Private | $16M | - | $400M | 25.0x |
Float Financial Public Comps
Float Financial is still privately-owned, but its public comps include Miroku Jyoho Service, Nordtech Group, Baiwang Cloud, Priority Technology Holdings, Avant Group, Zaggle Prepaid Ocean, Teamshares, MCAP, Expensify and PCA Corp..
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $315M | $58M | 1.1x | 1.1x | 6.0x | - | |||
| $72M | $15M | 5.1x | - | 25.2x | - | |||
| $109M | $433K | 2.6x | 2.7x | 648.3x | - | |||
| $953M | $200M | 1.5x | 1.4x | 7.1x | 6.2x | |||
| $181M | $35M | 1.0x | 0.9x | 5.3x | 5.7x | |||
| $199M | $20M | 1.0x | 1.0x | 10.4x | 10.7x | |||
| $472M | ($23M) | 1.7x | 1.4x | (35.0x) | 33.2x | |||
| - | - | - | - | - | - | |||
This data is available for Pro users. Sign up to see all Float Financial competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Float Financial
| When was Float Financial founded? | Float Financial was founded in 2019. |
| Where is Float Financial headquartered? | Float Financial is headquartered in Canada. |
| Is Float Financial publicly listed? | No, Float Financial is a private, VC-backed company. |
| What is Float Financial's valuation? | Float Financial was last valued at $396M in its Series C in June 2026. |
| How much funding has Float Financial raised? | Float Financial has raised $143M across 4 funding rounds. |
| What was Float Financial's last funding round? | Float Financial's last funding round was a $61M Series C in June 2026, led by Inovia Capital. |
| Who are Float Financial's investors? | Float Financial's investors include Garage Capital, Goldman Sachs Asset Management, Golden Ventures, Tiny Capital, Susa Ventures, FJ Labs, Teralys Capital, Cowie Capital Partners, Global Founders Capital, Northleaf Capital Partners and 4 others. |
| Which companies are comparable to Float Financial? | Companies comparable to Float Financial include Check, BILL.com, Corpay, Miroku Jyoho Service, Found and Lentra. |
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