News Summary

Toronto-based FinTech startup Float has introduced a new foreign exchange (FX) product to assist Canadian companies in managing currency conversions more efficiently amid the Canada-US trade war. Named Float FX, the service offers a significant discount on currency exchange fees compared to major Canadian banks, with a fee of just 0.25 percent. This initiative is part of Float’s broader strategy to help Canadian businesses facing financial challenges due to increased currency volatility and cross-border costs. Float’s business finance platform combines corporate cards with expense management software, serving over 4,000 Canadian companies. The startup’s recent $70 million CAD Series B funding led by Goldman Sachs aims to expand its suite of financial services for Canadian businesses.