Float Raises $73 Million for Canada-Focused Working Capital Tools

Canada-based business finance platform Float Financial raised nearly 100 million Canadian dollars (about $73 million) in new funding, according to a Monday (Jan. 26) press release.

The financing came in the form of two debt facilities from Silicon Valley Bank, a division of First Citizens Bank, along with “a tier-1 Canadian bank,” the release said.

“Despite a year of consecutive interest rate cuts from the Bank of Canada, the facilities enable Float to continue offering up to 4% interest on every dollar, the best interest rates in Canada,” the release said.

The funding will also help Float scale its working capital product, Charge, at a time when Canada is undergoing a “capital confidence gap,” created as rising costs compressed margins and companies avoided accruing new debt, according to the release.

After showing resilience despite tariffs, inflation and uncertainty, Canadian companies need to decide whether to remain “defensive” or pursue growth via “better financial tools” and “smarter capital access,” the release said.

That’s in keeping with research by PYMNTS Intelligence, which found that as companies faced sustained pressure from tariffs, they shifted into “reset mode,” prioritizing defensive strategies in 2025 instead of going after growth.

“Float is bullish where others may be bearish,” Float co-founder and CEO Rob Khazzam said in the release. “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% on business accounts, expand credit products and deliver the financial tools these businesses need and deserve to drive intentional growth.”

The funding came as working capital adoption is now widespread in Canada and the United States, according to the “2025–2026 Growth Corporates Working Capital Index: North America Edition,” a collaboration between PYMNTS Intelligence and Visa.

In the U.S., 85% of Growth Corporates, or firms with revenues between $50 million and $1 billion, use external working capital solutions.

“Although they adopt these tools at lower rates, Canadian firms generate higher returns when they deploy them,” PYMNTS reported Jan. 12. “The results? They’ve unlocked a higher share of revenue through early payments, improved supplier terms and tightened inventory control. Across both markets, better cash flow visibility is reducing unpredictable financing needs and allowing finance leaders to shift from a reactive liquidity management to a more deliberate, planned use of capital.”

For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.