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Float Financial raises $70 million from Goldman Sachs, OMERS among others

  • Float Financial raised $70 million in a funding round led by Goldman Sachs, with participation from OMERS Ventures and others, bringing total venture funding to $92.6 million since 2020.
  • Float Financial focuses on Canadian SMBs, claiming they are overlooked due to Canada's banking monopoly, said CEO Rob Khazzam.
  • The company has seen significant growth, with revenue increasing by 50 times and total payment volume by 45 times since its previous funding round.
  • Float plans to use the new capital for product expansion and hiring, despite not being profitable yet, according to Khazzam.
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Float Financial raises $70 million from Goldman Sachs, OMERS among others

TORONTO — Toronto-based Float Financial Solutions Inc. says it has signed a $70 million financing round led by Goldman Sachs' growth equity division.

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The Hamilton Spectator broke the news in Hamilton, Canada on Monday, January 13, 2025.
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