Float Helps Canadian Companies Manage Spending with Clarity

Rob Khazzam saw finance from the inside. At Uber, he worked on international expansion. He watched teams waste hours managing expense reports and reconciling spend. He realized how broken the system was and believed there had to be a better way for modern businesses.

So in 2019 he co-founded Float in Toronto. The company combines corporate cards, bill payments, reimbursements, expense tracking, and high-yield accounts in one platform. The goal is to give financial teams the tools they need to see spending in real time and manage it without fuss.

Since launching, Float has been adopted by more than 4,000 Canadian businesses. The customer base spans technology, manufacturing, retail, and consumer goods. Companies like Jane Software, Clutch, LumiQ, Knix, Nerva Energy, and Properly rely on it to manage daily spending. Whether a team has four employees or 500, Float scales to meet their needs.

A Credit Card Built for Work

In traditional systems, getting a corporate card means months of paperwork. Personal guarantees are required, and once approved, limits are low. Finance teams spend hours reconciling receipts and expenses.

Float changes that. Businesses open an account, fund it and instantly gain virtual or physical cards. Admins control limits, set individual cards for talent or projects and track spend in real time. The result is smooth, fast and flexible.

For example, employees at a Vancouver tech company set up a card through Float and upload receipts via Slack. Finance can control spending per user or team. New hires get cards in seconds. They don't wait for accounts payable cycles to make purchases.

Charge Cards, Bill Pay and More

Float offers a suite of tools centered on spending. It began with charge cards and spend management, added high-yield accounts, and later built bill payment and reimbursement features. That makes it a full financial hub.

Bills can be uploaded with OCR scanning. Payments go out online via EFT, wire or ACH. Administration can check the platform to see exactly what was spent, who used which card and if reimbursements are paid. The company estimates businesses save hours in admin and 7 percent in costs.

Every part is designed to work together. Payments sync to QuickBooks or Xero. Reporting reflects real spend in real time. Float combines banking functions with software in a single place.

Growth Through Discipline

Float has raised more than C$190 million. In 2024 it closed a C$50 million credit facility to support deeper growth. In January 2025 it announced a C$70 million equity round led by Goldman Sachs, bringing total funding in the past year to C$120 million. Other backers include OMERS Ventures, FJ Labs, Garage Capital and Tiger Global.

That investment is not about splashy launches. Float focuses on efficiency. Since its Series A in late 2021 the company has grown payments 45-fold, revenue 50-fold and assets under management 30-fold. Credit issuance has increased 140-fold.

Recruiting and product development also remain cautious. Float intentionally slowed hiring to build the right foundation. The focus was building new features that solve real pain and delivering measurable improvements.

Rob believes this discipline matters. He says companies like Float succeed by offering honest value and strong unit economics, not cash burn or star-powered marketing.

Made for Canada

Float didn’t copy foreign models. It's tailored to Canadian currency and regulations. Virtual and physical cards are available in CAD and USD. Float deposits earn 4 percent interest. FX fees are eliminated. Payments process within a day.

That's designed for a Canadian market that often relies on outdated bank processes and reactive software. Float is positioned as a local solution with global sensibility.

Rob frames this as part of national progress. He argues that Canada needs technology that serves its businesses, not legacy institutions. By raising capital and expanding its offering, Float is building tools to help Canadian companies compete internationally.

A Platform That Works for Everyone

Float supports companies of all sizes, from 4-person teams to 500-employee operations. Startups value the speed of card issuance and the ability to manage spending in real time. Mid-sized businesses rely on the visibility and automation it brings across departments. Finance teams benefit from having approvals, receipts, and reconciliations all in one place.

The combination with integrations to Slack, QuickBooks and Xero makes adoption simple. That simplicity is key to Float’s mission. Rob points out that long admin cycles and manual work slow teams down. By removing friction, Float helps people focus on core tasks.

Trust, Efficiency, and Transparency

Security is built in. Float holds funds with Tier 1 Canadian banks and maintains SOC 2 and PCI compliance. Fraud protection and monitoring run continuously. Money never sits idle in longer-term investments. It earns interest for clients.

That setup supports the practical nature of the service. Float is not a bank. It’s a money services business that layers software, controls and reporting on top of safe accounts. That combination earns trust and builds retention. Financial teams can act decisively because the system gives them the full picture.

The Road Ahead

There are no grand buzzwords in Float’s roadmap. The focus lies in extending core features. That means deeper integrations, better automation of approvals, improved reporting and speed of payments. The next path leads toward being a true financial partner, not just a tool.

Growth continues in more investment in talent and product groups across Canada. Expansion plans remain domestic for now. The ambition is strong, but what matters most is execution.

Rob ends every conversation by returning to that focus. Show up for customers. Measure results. Strengthen the connection between finance teams and the businesses they serve. He built Float on that promise.

Why it Matters

Many businesses struggle with finance systems that are slow, fragmented, and reactive. Approvals drag, accounting is patched together, and reimbursements get delayed. These inefficiencies drain time and focus.

Float replaces that friction with a clear, unified approach. Spending becomes something teams can see, manage, and improve. It supports progress instead of holding it back.

Rob Khazzam didn’t build Float to chase trends. He built it to solve problems that businesses deal with every day. That kind of focus may be what sets it apart—and what keeps it growing.

Rob Khazzam, Co-Founder & CEO, Float

We have to stop resting on the laurels of legacy institutions that no longer serve everyone.