Toronto-based fintech startup Keep has secured $23 million in equity funding, alongside a $50 million credit facility and a $3 million venture debt line, to scale its mission of becoming Canada’s go-to finance platform for small and medium-sized businesses.
In a space dominated by U.S. players like Brex, Ramp, and Mercury, Keep is building a platform tailored to Canadian SMBs. With new backing from investors including Tribe Capital, Rebel Fund, Liquid 2 Ventures, and Cambrian, the company is positioning itself as a mission control center for business finances—offering corporate cards, multi-currency accounts, automated expense management, and more.
CEO and co-founder Oliver Takach, a two-time Y Combinator alum, launched Keep in 2021 alongside Helson Taveras. Their goal was simple: solve the frustrating financial management experience they faced at traditional banks. Since then, the company has grown rapidly, claiming a 20x revenue increase and crossing $14 million in annualized revenue in 2024. Keep now serves over 3,000 customers across various industries, many of which operate internationally.
In addition to interchange revenue from its corporate card, Keep monetizes through capital advances, FX services, and instant payment features—services designed to simplify cash flow and global operations.
Keep SMB Financial Platform Gains Traction with Multi-Currency Tools
Keep’s standout feature is its multi-currency functionality, which allows businesses to “bank like a local” while navigating cross-border transactions. This has become increasingly valuable as Canadian SMBs expand their international footprint.
Takach sees Toronto-based Float Financial as their closest competitor, but believes Keep’s cross-border capabilities offer a clear edge. The startup has also attracted high-profile angel investors, including Dropbox’s Arash Ferdowsi, Webflow’s Vlad Magdalin, and Alloy’s co-founders, as well as General Catalyst’s Marc Bhargava.
The recent Series A1 round—led once again by Tribe Capital—follows a previously unannounced $8 million Series A from 2023 and an $8 million seed round in 2021. With financial support now exceeding $76 million across equity, credit, and debt, Keep is laying the groundwork for future growth.
Next on the roadmap: launching a banking product, expanding into embedded credit, and introducing automated bill pay to further streamline financial workflows for Canadian businesses.
As Arjun Sethi, co-founder of Tribe Capital, put it, “Managing expenses, sending money, handling currency exchanges, and giving employees controlled access to funds are now table stakes. Vertically integrating these services isn’t a luxury anymore — it’s the new standard.”
Keep seems ready to meet that standard—and redefine how Canadian SMBs manage their money.
