Canadian FinTech Float Nets $30M for Its V-Card

Float, a platform focused on managing corporate cards and spend, has completed its Series A funding round, having raised US$30 million. The round was announced in a report sighted on FinTech Futures and bring the firm’s total capital acquired so far to US$34 million.

Float’s operations involve putting out Visa-issued cards, which seamlessly integrate with a company’s bank account and allow employees access to both virtual and physical corporate cards. The service also includes a spend management platform that allows these firms to appropriate spending.

The core mission of Float is to address what the firm has seen to be a major pain point for small Canadian businesses by eliminating the need for personal guarantees from company leaders.

In the said report, Float CEO Rob Khazzam is quoted as saying that the company has grown at a faster pace than it could have imagined since March.