Fintech startup Float has announced the expansion of its product portfolio with the introduction of two new solutions: Float Bill Pay and Float Reimbursements.
These additions make Float the first business finance platform in Canada designed to offer an end-to-end solution that simplifies all non-payroll spending.
According to their press release today, Float drives up to 7% savings on corporate spend for Canadian companies and teams by offering 1% cashback, 4% yield on business balances, eliminating FX fees, and helping employees save up to 20 hours per month on manual expense submissions.
“Four years ago, we embarked on a mission to revolutionize corporate spending in Canada,” said Rob Khazzam, CEO and Co-Founder of Float.
“We noticed a significant gap in the market – Canadian businesses were either forced to rely on international solutions that weren’t localized for Canada or settle for outdated local options. Today, we are proud to introduce Float Bill Pay and Float Reimbursements, designed specifically for Canadian finance teams.”
Float’s business finance platform is the only solution in Canada to integrate reimbursements, corporate cards, a credit facility and bill payments — including bank, EFT, wire, and ACH payments — into a single, streamlined platform.
This consolidation allows businesses to manage all their spending in one place, eliminating the inefficiencies and frustrations associated with fragmented systems.
Earlier this year Float unveiled the backing of a $50 million credit facility in partnership with Silicon Valley Bank with the funds earmarked to expand its Charge Card program, which saw tremendous payment volume growth in 2023.
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