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Keep raises $12M in increasingly competitive Canadian corporate spend market | TechCrunch

May 20, 2025 - techcrunch.com
Keep, a Canadian startup focused on financial solutions for small and medium-sized businesses (SMBs), has announced $23 million in equity funding, a $50 million credit facility, and a $3 million venture debt line. Founded by Oliver Takach and Helson Taveras in 2021, Keep aims to be a comprehensive financial platform for businesses, offering services like corporate credit cards, multi-currency accounts, and automated expense management. The company, which has seen a significant increase in valuation and revenue, serves over 3,000 SMBs and generates income through interchange fees, capital advances, and premium payment options. Tribe Capital led the latest funding round, with participation from various investors, including notable angel investors.

Keep's competitive edge lies in its multi-currency capabilities, which facilitate cross-border operations for its clients. The startup plans to expand its offerings by launching a banking product and adding features like embedded credit options and bill pay. Keep's closest competitor in Canada is Float Financial. The company is positioning itself as a mission control center for business finances, addressing the limitations of traditional financial tools. Arjun Sethi of Tribe Capital emphasizes the importance of vertically integrating financial services as a new industry standard.

Key takeaways:

  • Keep, a Canadian startup, raised $23 million in equity funding, a $50 million credit facility, and a $3 million venture debt line to expand its financial platform for SMBs.
  • Keep's offerings include a corporate credit card, multi-currency accounts, automated expense management, and integrations with accounting software, aiming to be a comprehensive financial solution for businesses.
  • The company has achieved significant growth, crossing $14 million in annualized revenue and onboarding over 3,000 SMB customers, with a focus on international business operations.
  • Keep plans to launch a banking product and add features like embedded credit options and bill pay, with Tribe Capital leading its latest equity raise and participation from notable investors.
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