Float Financial Solutions Inc. will continue to offer up to four per cent interest on every dollar, it announced on Monday, after raising nearly $100 million through two debt facilities.

The Toronto-based fintech platform, which provides financial tools for Canadian businesses, secured funding from

Silicon Valley Bank

(SVB), a division of First Citizens Bank, along with a tier-1 Canadian bank.

Float said the debt facilities will allow it to maintain its high-interest product for business accounts “despite a year of consecutive

interest rate

cuts from the

Bank of Canada

,” while also expanding its credit products (including corporate cards with limits up to $3 million) and other financial tools for companies.

“Float is bullish where others may be bearish. We’re betting on Canadian businesses,” said co-founder and chief executive Rob Khazzam in a press release.

The startup said more than 6,000 Canadian companies use its platform and products, from high-limit corporate cards and automated expense management to bill payments, foreign exchange and business banking.

The funding will also help it extend flexible working capital to thousands more Canadian businesses and unlock “north of $1.5 billion in annualized spending power,” it added.

“The funding comes as Canadian businesses navigate a critical inflection point,” it said.

Float recently released a report that said while revenues were up five per cent in Canada in 2025, margins were compressed by rising costs and companies avoided taking on new debt despite growth opportunities, creating what it called a “capital confidence gap.”

The company claims its interest-rate offering of up to four per cent is the highest available in Canadian business banking, and that it has also raised its base interest rate from two to three per cent on every dollar.

It said customer funds are also protected by CDIC insurance up to $100,000 and held in segregated trust accounts at a tier-1 Canadian bank.

“With its innovative platform and suite of financial products, Float aims to deliver industry-leading rates to help local businesses and, in turn, bolster growth across the Canadian economy,” said Brian Foley, market manager of national fintech group at Silicon Valley Bank.

“Silicon Valley Bank is excited to provide Float with this facility and support their mission to help local Canadian businesses succeed and scale,” he said.

The startup previously raised a $70 million Series B round led by Goldman Sachs Alternatives in January 2025.

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