Goldman Sachs has participated in a CAD $70 million funding round for Canadian FinTech firm Float Financial.

Float, which launched in 2021, is a business finance platform.

The company now has around 4,000 customers who have access to a range of virtual and physical cards, high-yield accounts, and transfer services.

The latest round of funding brings the total raised by Float to around CAD$120 million over the past 12 months.

Float said it will use the money to accelerate its product expansion, attract top talent and expand its leadership in the Canadian market coast-to-coast.

Goldman Sachs Alternatives led the Series B funding round with participation from FJ Laibs, Teralys and existing investor Garage Capital.

In 2024, the company expanded its expense management software and corporate cards offering, adding features to automate accounts payable and provide real-time insights into company spending.

“Float’s impressive growth so early on is a testament to its Canadian focus, customer-centric platform and deeply committed team,” said Clare Greenan, an investor with growth equity at Goldman Sachs Alternatives. “We are thrilled to support Float in its next phase of expansion, as it makes innovative business finance solutions more accessible to Canadian businesses.”

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