Keep Secures $12M to Grow Canadian Corporate Spend Platform

Canadian fintech startup Keep has raised $12 million in a Series A1 funding round led by Tribe Capital. This adds to their previous $8 million Series A and seed round, bringing total equity funding to $23 million. Keep also secured a $50 million credit facility and a $3 million venture debt line. This latest investment will fuel the growth of Keep's financial platform designed for small and medium-sized businesses (SMBs).

Keep Offers Comprehensive Financial Tools for SMBs

Keep provides a suite of financial tools tailored for SMBs, including:

  • Corporate credit cards
  • Multi-currency accounts
  • Automated expense management
  • Integrations with accounting software

Co-founder and CEO Oliver Takach, a two-time Y Combinator founder, aims to make Keep the central hub for SMB finances. He and co-founder Helson Taveras launched Keep in 2021 after experiencing firsthand the limitations of traditional banking tools.

Rapid Growth and Market Differentiation

In 2024, Keep surpassed $14 million in annualized revenue and now serves over 3,000 SMB customers across various industries, many with international operations. Keep's multi-currency capabilities are a key differentiator, enabling businesses to "bank like a local" and simplify cross-border transactions.

Keep's closest competitor in the Canadian SMB market is Toronto-based Float Financial.

Investor Confidence and Future Plans

Tribe Capital's Arjun Sethi emphasized the importance of integrated financial services for modern businesses, highlighting Keep's approach as "the new standard." The latest funding round also included participation from Rebel Fund, Liquid 2 Ventures, Cambrian, Assurant Ventures, and several angel investors, including Dropbox co-founder Arash Ferdowsi and Webflow CEO Vlad Magdalin.

Keep plans to expand its offerings with a banking product and additional features like embedded credit options and bill pay.

Managing expenses, sending and receiving money, handling currency exchanges seamlessly, 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.

— Arjun Sethi, co-founder of Tribe Capital