The funding includes USD 24 million in equity financing led by Tribe Capital, USD 51 million credit facility from Coventure (Treville), and a USD 3 million venture debt line from Silicon Valley Bank.
Canada has a USD 500 billion SME banking market, dominated by legacy banks that offer outdated software, suboptimal customer service, and inflexible underwriting processes, which hinder SMEs' ability to grow. Keep addresses this gap by serving both businesses seeking an optimal experience and entrepreneurs who have traditionally been overlooked by conventional banks.
As most business owners face common challenges such as managing cash flow, paying bills, or tracking expenses, Keep aims to build a system that helps Canada’s SMEs thrive with technology, tools, and services.
Keep’s integrated platform includes Canada’s fintech business credit card, automated expense management, multi-currency accounts, and flexible global bill pay, all features designed to eliminate the fragmented, fee-heavy, and other challenges that business owners face today.
According to the company's data, in 2024, Keep experienced growth crossing USD 14.4 million in annualised revenue, less than two years after launching. Keep has also achieved over 300% net dollar retention, reflecting optimal customer satisfaction, and has onboarded over 3.000 SMBs across a diverse mix of industries. The firm’s goal is to serve 100.000 SMEs across Canada by 2027, helping them save over a quarter billion dollars in fees annually. Moreover, the firm aims to provide solutions tailored to Canadian tax systems, banking regulations, and business requirements.
The funding round saw participation from both existing and new investors, including Rebel Fund, Liquid2 Ventures, Cambrian, and Assurant Ventures. A part of individual investors includes founders and executives from fintech companies such as Robinhood, Venmo, Stripe, Plaid, Chime, Coinbase, Ramp, and Alloy.
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