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

Float Financial Overview

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

CanadaCanada

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

Float Financial valuation by funding round
DateStageValuation
Jun 2026Series 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

Float Financial funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2026Series CInovia Capital (lead); Northleaf Capital Partners; BDC Capital; Garage Capital; Goldman Sachs Asset Management$61M$396M-
Jan 2025Series BGoldman 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 2021Series ATiger Global (lead)$29M--
Jul 2021SeedGolden 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

Investors in Float Financial by funding rounds participated
InvestorHQRoundsRoleFirst check
Garage CapitalUnited StatesLos Angeles, CA3ParticipantJul 2021
Goldman Sachs Asset ManagementUnited StatesNew York City, NY2LeadJan 2025
Golden VenturesCanadaToronto2LeadJul 2021
Tiny CapitalCanadaVictoria1ParticipantJul 2021
Susa VenturesUnited StatesSan Francisco, CA1LeadJul 2021
FJ LabsUnited StatesNew York City, NY1ParticipantJan 2025
Teralys CapitalCanadaMontreal1ParticipantJan 2025
Cowie Capital PartnersCanadaToronto1ParticipantJul 2021
Global Founders CapitalGermanyBerlin1ParticipantJul 2021
Northleaf Capital PartnersCanadaToronto1ParticipantJun 2026
Inovia CapitalCanadaMontreal1LeadJun 2026
OMERS VenturesCanadaToronto1ParticipantJan 2025

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Float Financial Competitors

Float Financial competitors include listed companies like BILL.com, Corpay and Miroku Jyoho Service, and private ones like Check, Found and Lentra.

Public and private companies comparable to Float Financial
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CheckUnited StatesNew York City, NYPrivate--$725M-
BILL.comUnited StatesUnited StatesPublicly listed$1.7B$34M$4.1B2.4x
CorpayUnited StatesUnited StatesPublicly listed$4.5B$2.4B$27B6.8x
Miroku Jyoho ServiceJapanJapanPublicly listed$315M$58M$396M1.1x
FoundUnited StatesSan Francisco, CAPrivate$43M-$400M9.3x
LentraIndiaPunePrivate$16M-$400M25.0x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Miroku Jyoho Service$315M$58M1.1x1.1x6.0x-
Nordtech Group$72M$15M5.1x-25.2x-
Baiwang Cloud$109M$433K2.6x2.7x648.3x-
Priority Technology Holdings$953M$200M1.5x1.4x7.1x6.2x
Avant Group$181M$35M1.0x0.9x5.3x5.7x
Zaggle Prepaid Ocean$199M$20M1.0x1.0x10.4x10.7x
Teamshares$472M($23M)1.7x1.4x(35.0x)33.2x
MCAP------

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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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