Keep, a Canadian financial technology company, has announced it raised 108 million Canadian dollars (about $78 million) to develop its banking platform tailored for small businesses in Canada. The company revealed this funding news on Tuesday, May 20.
Keep’s platform is designed specifically to meet the needs of Canadian small businesses. It offers tools that comply with local tax laws and banking regulations. The platform includes features such as a business credit card, automated expense management, multicurrency accounts, and global bill payment options.
Oliver Takach, Keep’s co-founder and CEO, said traditional banks have not served Canadian entrepreneurs well. “We’re building the financial operating system that Canada’s small businesses actually need,” he said. “Our platform provides the technology, tools, and services to help them succeed.”
Since launching less than two years ago, Keep has signed up over 3,000 small and medium-sized businesses (SMBs). The company aims to grow to 100,000 SMB customers across Canada by 2027.
Arjun Sethi, co-founder and partner at Tribe Capital, which led the funding round, praised Keep’s rapid growth and strong product adoption. “We’re excited to support Keep as it changes how businesses manage their operations and cash flow,” Sethi said. “Keep offers smarter and more flexible financial solutions.”
Keep is not alone in this space. Another Canadian startup, Venn, also targets small businesses with a financial platform. Formerly known as Vault, Venn rebranded in February and raised $21.5 million in Series A funding to expand its services.
Venn started by offering Canadian and U.S. dollar accounts but has since added global accounts, spend management, transfers, foreign exchange, and accounting automation. The company says its rebranding and funding reflect a strong commitment to meeting the unique needs of Canadian businesses.
Both Keep and Venn are part of a growing wave of fintech companies aiming to provide better banking tools for Canada’s small business community.
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