“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?”
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.
Venn discloses Big 5 Canadian bank (unnamed trust account) as its sponsor bank, according to the Embedded Finance Index 2026.
Venn does not disclose a bank charter of its own; its banking services are provided through Big 5 Canadian bank (unnamed trust account).
Venn processes payments through Stripe.
The Embedded Finance Index 2026 maps 2 layers in Venn's stack: Payments / PSP (Stripe); Sponsor bank (Big 5 Canadian bank (unnamed trust account)).
Venn is founded in 2021 and headquartered in Toronto, Ontario, Canada.
Venn has raised $26.5M in total (latest round: Series A, 2025).
Get a read on where your own stack stands against Venn and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.