Calgary-based FinTech firm Finofo, a financial operations platform designed to streamline global business payments and cross-border finance, has raised $3.3m in seed funding.
The investment round was led by Watertower Ventures, with continued participation from Motivate Venture Capital, SaaS Ventures, and a group of Alberta-based private investors. The funding follows a $1.7m pre-seed round secured in 2023.
Finofo offers an all-in-one solution for companies managing international receivables, FX, AP workflows, and multi-currency transactions. Its technology enables finance teams to consolidate global accounts, automate approvals, and eliminate manual foreign exchange processes.
The company plans to use the fresh capital to expand its platform following a period of rapid growth, during which it tripled its revenue over the past year. The funds will also support the launch of a new $29/month plan tailored to small businesses—an initiative aimed at providing affordable access to frictionless global payments in light of rising postal costs and looming mail service disruptions in Canada.
The new SMB plan offers unlimited local payments across 90+ countries, real-time ERP integrations, batch payment tools, FX controls, and ACH receivable accounts in the business’s name—all features traditionally inaccessible to smaller firms.
Finofo’s platform has been built natively for both U.S. and Canadian businesses and caters particularly to energy, manufacturing, and logistics companies that operate across borders with multi-entity structures.
Watertower Ventures general partner Jeremy Milken said, “Finofo is tackling a mission-critical pain point for mid-market companies operating globally—something traditional banks and legacy systems have failed to solve. Co-founders Prateek and Charles are an exceptional team with deep domain expertise and a clear vision. We are thrilled to support their journey to become the category defining infrastructure platform for cross-border finance.”
Finofo co-founder Prateek Sodhi said, “The only reason cheques are still around is because banks made wires expensive and receiving payments even harder. Now, with a Canada Post strike looming, finance teams can’t afford to wait on envelopes in the mail. Finofo gives every business an ACH receivable account in their name, so they can finally stop chasing cheques and start getting paid faster, with zero fees or friction.”
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