On January 13, 2025, Float Financial, a Toronto-based business finance platform, announced the closing of a CAD $70 million Series B funding round. The round was led by Growth Equity at Goldman Sachs Alternatives, with participation from OMERS Ventures, FJ Labs, Teralys, and existing investor Garage Capital. This investment brings Float’s total funding over the past year to CAD $120 million, including a $50 million credit facility secured in February 2024 in partnership with Silicon Valley Bank, a division of First Citizens Bank.

Float plans to utilize the new capital to accelerate product expansion, attract top talent, and expand its leadership in the Canadian market. Since its Series A in November 2021, the company has experienced significant growth, including a 45x increase in total payment volume, 50x revenue growth, a 30x rise in assets under management, and a 140x expansion in credit issuance.