Float Financial is preparing to hire across product, R&D, sales, and marketing after raising $85 million in Series C financing.
The Toronto-based fintech announced this week that the all-equity round was led by Inovia Capital, with continued participation from Goldman Sachs Alternatives, Garage Capital, and Teralys Capital, alongside new investment from BDC Capital and Northleaf.
The raise increases Float’s valuation by 70 percent and brings the company’s total funding to CAD $300 million since inception, including debt and equity financing.
For Canadian tech talent, the round signals another growth push from one of the country’s most closely watched fintech scaleups. Float said the new capital will be used to advance Float Intelligence, its proprietary AI layer for finance teams, expand across Western Canada and Quebec, and increase “talent density” through strategic hiring.
Founded to give Canadian businesses a modern alternative to fragmented banking and finance tools, Float has built a platform spanning corporate cards, expense management, bill payments, business accounts, working capital credit, and cross-border payments.
Since closing its Series B in December 2024, Float says it has doubled its active customer base to more than 7,500 Canadian businesses and grown revenue by more than 120 percent. The company was also named the fastest-growing fintech in Canada on The Globe and Mail’s Top Growing Companies list.
Float says it has achieved that growth with a team of 170 people, while using AI internally to remain lean and increase revenue per employee by 50 percent. The company said it is continuing to add headcount at a time when much of the broader technology sector remains cautious.
“We are not waiting for our financial system to catch up to the needs of Canadian businesses. We are setting the pace ourselves,” said Rob Khazzam, CEO and Co-Founder of Float.
Khazzam said Float has spent the past five years building the infrastructure, licences, and products required to serve Canadian businesses, with Float Intelligence now adding an AI layer across the finance workflows those companies use every day.
The company’s hiring push comes as Float positions itself as both a financial technology provider and an AI-enabled operating system for Canadian businesses. Its careers page describes Float as building an “AI-first” and impact-focused culture, with teams spanning product, engineering, design, finance, go-to-market, operations, and customer-facing roles.
For Float, the next stage of growth appears to be as much about people as capital. With expansion planned across Canada and new AI capabilities being built into its platform, the company is looking to add the kind of talent that can help it scale a Canadian-first financial operating system.