Venn
“Can a Canadian-native, multi-currency financial OS out-execute the incumbent big banks and horizontal SMB fintechs (Float, Loop) for SMB banking north of the border?”
Founded2021
HQToronto, Ontario, Canada
Total raised$26.5M
Latest roundSeries A, 2025
IndustryFintech / SMB banking
The story
Founded 2021 in Toronto as Vault, launched a business banking platform in 2023 targeting Canadian SMBs. Rebranded to Venn in March 2025 alongside a $21.5M Series A, positioning as an all-in-one financial operating system for Canadian small and medium businesses. Product now spans multi-currency accounts, FX, corporate cards with cashback, spend management, invoicing, and accounting automation — directly competing with Float and Loop in the Canadian market.
Product timeline
2021
Company founded (originally as Vault) in Toronto· pivot
2023
Vault launches business banking platform with $5M seed round· banking
2025
Rebrands to Venn and raises $21.5M Series A; onboarded 4,000+ businesses· banking
2026
Expands to multi-currency accounts (CAD, USD, GBP, EUR), corporate cards, spend management, and accounting automation· banking
The stack
2 layers disclosed in Venn’s embedded-finance stack
Payments / PSP
Sponsor bank
in the full report
Accounting gap: minor
1 more provider across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.