Company Research Report: Float Financial Solutions Inc.

Company Overview

• Name: Float Financial Solutions Inc.

• Mission: To revolutionize corporate spending in Canada with smart corporate cards and integrated financial management solutions.

• Founded: No information is available.

• Founders: No information is available.

• Key People:

• Rob Khazzam, CEO & Co-Founder

• Griffin Keglevich, Co-Founder

• Ruslan Nikolaev, Co-Founder

• Andrew Dale, SVP, Operations and Financial Products

• Bhavin Shah, CTO

• Nina Bilimoria Angelo, VP Marketing

• Meghan Smith, SVP, People and Talent

• Brendan White, Head of Finance

• Josh Ruff, Head of Revenue

• Dave Freiman, Head of Engineering

• Headquarters: 1000-119 Spadina Avenue, Toronto, ON M5V 2L1, Canada

• Number of Employees: No information is available.

• Revenue: No information is available.

• Known For: Providing smart corporate cards, and financial and expense management solutions tailored for Canadian businesses.

Products

• Corporate Cards

• Access to unlimited physical and virtual cards in CAD and USD.

• Allows customization of spend limits and controls, and offers 1% cashback on card spend.

• Supports instant card issuance and personalized spending limits.

• Expense Management

• Real-time transaction tracking with direct integrations.

• Automated receipt collection and expenditure tracking through mobile apps or text.

• Supports unlimited reimbursements and custom approval workflows.

• Float High Yield Accounts

• Offering 4% interest on CAD and USD balances.

• No balance minimums or lockups, allowing for fluid access to funds.

• Bill Pay

• Integrates invoice processing, approval, and payment workflows.

• Supports payments through EFT, ACH, and wire options with real-time expense tracking.

• Reimbursements

• Simple platform for processing employee out-of-pocket expense reimbursements.

• Supports quick approval workflows and direct payouts.

• Accounting Automations

• Integrates with QuickBooks, Xero, and NetSuite for seamless data synchronization.

• Supports auto-coding of transactions and export features to streamline bookkeeping.

Recent Developments

• New Products and Features:

• Recently launched Financial Solutions: Bill Pay and Reimbursements, marking Float as the first business finance platform in Canada to offer a complete non-payroll spending solution.

• Launched a new Banking Hub for seamless integration with financial institutions and eligibility for credit products.

• Introduced features like Dynamic Approvers, Transaction Splits, and float purchase automation through newly launched mobile applications.

• Partnerships:

• Float history of strategic partnerships with Silicon Valley Bank (SVB), a division of First Citizens Bank, to secure US$50 million in funding aimed at accelerating growth.

• Security and Compliance:

• SOC 2 Type 2 and PCI-DSS certified, demonstrating robust security measures to safeguard client information.

• Recent Financial Growth:

• Reported fourfold revenue increase in its strongest year yet, with significant transaction volume reaching over 140,000 monthly.

This comprehensive report highlights Float Financial Solutions Inc.'s prominent role in modern financial management solutions, their diversified product offerings, and their committment to regulatory compliance and client-focused innovations. The company continues to make strategic advancements in the financial technology landscape, tailored specifically for Canadian businesses, with a focus on innovation, efficiency, and control over corporate spending.