Float Financial, a Canadian business finance platform, has secured close to CAD $100m in new funding to expand access to working capital and high-yield business accounts for companies across the country, aiming to unlock more than $1.5bn in annualised spending power.
The funding consists of two debt facilities provided by Silicon Valley Bank, a division of First Citizens Bank, alongside a tier-1 Canadian bank. The facilities enable Float to continue offering interest rates of up to 4% on business accounts, positioning the firm as a leading provider of yield in Canadian business banking.
According to a recent Float report, Canadian business revenues rose 5% in 2025, but rising costs continued to compress margins. Many companies avoided taking on new debt despite growth opportunities, against a backdrop of economic growth of just 1.2% last year. Float believes this has left businesses at a crossroads between defensive positioning and intentional growth supported by smarter access to capital.
Float is also enhancing its Business Account product, increasing base interest rates from 2% to 3% on every dollar while continuing to offer up to 4% interest overall. Customer funds are held in segregated trust accounts at a tier-1 Canadian bank and protected by CDIC insurance up to CAD $100,000.
Float’s platform combines corporate cards with limits of up to $3m, automated expense management, bill payments, reimbursements, foreign exchange and high-yield business accounts.
Float co-founder and CEO Rob Khazzam said, “Float is bullish where others may be bearish. 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.”
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