Float announces $70M Series B round led by Growth Equity at Goldman Sachs Alternatives
Float Financial, a Toronto-based business finance platform, has announced a CAD $70 million Series B financing round led by Growth Equity at Goldman Sachs Alternatives, bringing its total funds raised in the past 12 months to $120 million.
Float's platform offers a range of business finance products, including corporate cards, bill pay, expense management, and high-yield accounts, serving over 4,000 Canadian businesses such as Jane Software, LumiQ, and Knix.
Since its Series A in November 2021, Float has experienced significant growth, including a 45x increase in total payment volume, 50x revenue growth, a 30x rise in assets under management, and a 140x expansion in credit issuance, all while maintaining top quartile performance in capital efficiency.
