Canadian business finance platform Float Financial has secured nearly $100 million CAD in funding through two debt facilities provided by Silicon Valley Bank and a tier-1 Canadian bank, according to a news release.
The new funding will be used to scale Float’s Charge product and expand flexible working capital to thousands of businesses across the country, a move the company said could unlock more than $1 billion in annualized business spending power.
Float noted that while business revenues increased by 5 percent last year, rising operating costs squeezed margins, and many companies avoided taking on new debt despite growth opportunities. This created what Float described as a “capital confidence gap” as businesses approached 2026 at a crossroads between remaining defensive or pursuing intentional growth through smarter access to capital and modern financial tools, such as its own offerings.
As Rob Khazzam, CEO of Float, said in a statement, “Float is bullish where others may be bearish. We’re betting on Canadian businesses. We’ve secured nearly $100 million to inject capital directly into the Canadian economy, enabling us to offer interest rates up to 4 percent on business accounts, expand credit products and deliver the financial tools these businesses need and deserve to drive intentional growth.”
Since launching in September 2025, Float reported that nearly two-thirds of its customers prefer to hold their business cash with Float rather than traditional banks.
