About Float Financial Solutions
Float Financial Solutions is a company based in Kitchener (Canada) founded in 2020 by Rob Khazzam and Griffin Keg. It operates as a B2B, and SaaS. Float Financial Solutions has raised $34 million across 4 funding rounds from investors including SVB, A* and Tiny. Float Financial Solutions offers products and services including Corporate Cards, Expense Management, Bill Payments, and High Yield Accounts. Float Financial Solutions operates in a competitive market with competitors including Brex, Sodexo, Concur, Jeeves and Electronic Funds Source, among others.
- Headquarter Kitchener, Canada
- Founders Rob Khazzam, Griffin Keg
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Sectors
TechnologyBusiness Services
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Float Financial Solutions Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$34 M (USD)
in 4 rounds
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Latest Funding Round
$37.03 M (USD), Debt – Conventional
Feb 13, 2024
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Investors
SVB
& 8 more
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Employee Count
Employee Count
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Products & Services of Float Financial Solutions
Float Financial Solutions offers a comprehensive portfolio of products and services, including Corporate Cards, Expense Management, Bill Payments, and High Yield Accounts. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
High-limit cards for team spending without personal guarantees
Automates tracking and approval of business expenses
Streamlines accounts payable processes for businesses
Offers interest-earning accounts for business funds
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Funding Insights of Float Financial Solutions
Float Financial Solutions has successfully raised a total of $34M across 4 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $37.03 million completed in February 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Debt – Conventional — $37.0M
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First Round
First Round
(13 Jul 2021)
- Investors Count 9
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2024 | Amount | Debt – Conventional - Float Financial Solutions | Valuation |
investors |
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| Nov, 2021 | Amount | Series A - Float Financial Solutions | Valuation | Tiger Global Management | |
| Jul, 2021 | Amount | Seed - Float Financial Solutions | Valuation | Susa Ventures , Golden Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Float Financial Solutions
Float Financial Solutions has secured backing from 9 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include SVB, A* and Tiny. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture and private equity investments are managed with global diversification.
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Founded Year | Domain | Location | |
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Seed-stage investments are directed toward North American startups.
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Founded Year | Domain | Location | |
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Venture capital firm investing in early-stage companies across fintech, healthcare, and multiple sectors
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Float Financial Solutions
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Float Financial Solutions
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Float Financial Solutions Comparisons
Competitors of Float Financial Solutions
Float Financial Solutions operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Brex, Sodexo, Concur, Jeeves and Electronic Funds Source, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
SaaS-driven credit card and spend management solutions platform for businesses
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| domain | founded_year | HQ Location |
Employee benefits payment cards are provided via an online platform.
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| domain | founded_year | HQ Location |
Corporate travel expenses and invoices are managed via SaaS platform.
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| domain | founded_year | HQ Location |
Payment and corporate financial cards are provided digitally by Jeeves.
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| domain | founded_year | HQ Location |
Corporate and fleet expense card solutions are provided for businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Float Financial Solutions
Frequently Asked Questions about Float Financial Solutions
When was Float Financial Solutions founded?
Float Financial Solutions was founded in 2020 and raised its 1st funding round 1 year after it was founded.
Where is Float Financial Solutions located?
Float Financial Solutions is headquartered in Kitchener, Canada. It is registered at Kitchener, Ontario, Canada.
Who is the current CEO of Float Financial Solutions?
Rob Khazzam is the current CEO of Float Financial Solutions. They have also founded this company.
Is Float Financial Solutions a funded company?
Float Financial Solutions is a funded company, having raised a total of $34M across 4 funding rounds to date. The company's 1st funding round was a Seed of $4M, raised on Jul 13, 2021.
What does Float Financial Solutions do?
Float is a financial platform that delivers corporate cards, expense management software, and high-yield accounts to automate business spending and accounting. It operates in Canada, focusing on tools like bill payments and foreign exchange to help companies manage finances efficiently. Serving Canadian firms, it emphasizes security and real-time insights for better control over expenditures.
Who are the top competitors of Float Financial Solutions?
What products or services does Float Financial Solutions offer?
Float Financial Solutions offers Corporate Cards, Expense Management, Bill Payments, and High Yield Accounts.
Who are Float Financial Solutions's investors?
Float Financial Solutions has 9 investors. Key investors include SVB, A*, Tiny, Tiger Global, and Golden Ventures.
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