Canadian FinTech Keep, which offers an all-in-one financial platform tailored for small businesses, has raised C$108m as it emerges from stealth.
The funding round includes C$33m in equity led by Tribe Capital, a C$71m credit facility from Coventure (Treville), and C$4m in venture debt from Silicon Valley Bank. Other investors include Rebel Fund, Liquid2 Ventures, Cambrian, Assurant Ventures, and notable backers from companies such as Robinhood, Venmo, Stripe, Plaid, Chime, Coinbase, Ramp, and Alloy.
Keep aims to transform Canada’s small business banking sector, a market worth over $500bn, by addressing the inefficiencies of legacy banks. These traditional institutions, the company argues, continue to rely on outdated software, poor customer service, and rigid underwriting processes that hinder the growth of the country’s 3 million small businesses.
The platform is designed specifically for Canadian regulatory and tax environments, offering tools like the country’s first FinTech business credit card, multi-currency accounts, automated expense management, and flexible global bill payments. By consolidating these functions, Keep hopes to eliminate the fragmented, fee-heavy systems that many business owners currently face.
Proceeds from the round will help Keep accelerate its mission to support Canadian entrepreneurs with better financial infrastructure, with plans to reach 100,000 small businesses by 2027 and save them over C$250m in annual fees.
In 2024, the company reported significant traction, crossing C$20m in annualised revenue in under two years and achieving over 300% net dollar retention. Keep has already onboarded more than 3,000 small businesses across various industries.
Keep CEO and co-founder Oliver Takach said, “Traditional banks have failed Canadian entrepreneurs for too long. We’re building the financial operating system that Canada’s small businesses actually need – one that provides the technology, tools, and services to help them thrive.”
Takach, a two-time Y Combinator founder, added, “Keep was born from my own frustration with fragmented systems and banking inefficiencies. We’re building what I desperately needed back then.”
Customers have also voiced their support. James G Armour & Co CEO Glen Napier said, “With Keep, we’ve cut our financial admin time by 80%. The integration of their products was seamless and helped us double our revenue in just six months.”
Tribe Capital co-founder and partner Arjun Sethi said, “Keep’s incredible growth and product adoption is far beyond what we see in high growth companies at their stage today. We’re excited to support Keep as it redefines how businesses manage operations and cash flow.”
This is the first publicly disclosed round of funding for Keep, which had operated in stealth prior to this announcement.
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