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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Leaning Left4Leaning Right0Center3Last UpdatedBias Distribution57% Left
Bias Distribution
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57% Left
L 57%
C 43%
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