Float provides a spend management platform that combines smart corporate cards with real-time expense tracking and automated accounting integrations, enabling businesses to manage their spending efficiently. By offering features like customizable spend controls and high-yield accounts with 4% interest, Float addresses the challenges of financial oversight and cash flow management for Canadian companies.
Funding
$132.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
GSFounders
Product
Problem
Many Canadian businesses struggle with inefficient spend management processes, often relying on outdated methods for expense tracking and reconciliation. Traditional corporate cards lack real-time visibility and control, leading to overspending, inaccurate reporting, and time-consuming manual accounting tasks.
Solution
Float offers a comprehensive spend management platform designed to streamline financial operations for Canadian businesses. By combining smart corporate cards with real-time expense tracking, automated accounting integrations, and high-yield accounts, Float provides enhanced control and visibility over company spending. The platform enables businesses to issue physical and virtual cards with customizable spend controls, automatically categorize transactions with GL codes, and earn 4% interest on their cash balances in both CAD and USD. Direct integrations with accounting software like Quickbooks, Xero, and NetSuite further simplify month-end reconciliation and reporting.
Target Audience
Float primarily targets Canadian small and medium-sized businesses (SMBs) seeking to modernize their financial processes, improve spend visibility, and automate accounting tasks.
Features
- Smart corporate cards (physical and virtual) with customizable spend controls and real-time reporting
- High-yield accounts offering 4% interest on CAD and USD balances
- Automated expense tracking with instant receipt reminders via text or email
- Automatic categorization of transactions with GL codes, tax codes, and vendor information
- Direct integrations with Quickbooks, Xero, and NetSuite for seamless accounting
- Real-time reporting and insights to identify spending patterns and anomalies
- Unlimited virtual cards for each vendor and employee
- Ability to set spending limits, pause, or cancel cards to prevent unapproved spends