FinTech Keep exits stealth with C$108m to support Canadian SMEs

By Gloria Methri

Toronto-based FinTech Keep, Canada’s first all-in-one financial platform built exclusively for small businesses, has announced a C$108 million funding round as it exits stealth mode. The raise includes C$33 million in equity financing led by Tribe Capital, a C$71 million credit facility from Coventure (Treville), and C$4 million in venture debt from Silicon Valley Bank.

The fresh capital will support Keep’s mission to tackle the persistent cash flow and operational challenges faced by Canada’s three million small businesses, which currently contribute over C$500 billion to the national economy.

Despite their critical role, Canadian small businesses have long been underserved by traditional banks offering outdated tools, inflexible underwriting, and poor customer support. Keep seeks to bridge this gap, providing a technology-driven alternative designed specifically for the nuances of the Canadian market, including tax systems, regulatory requirements, and cross-border needs.

“Traditional banks have failed Canadian entrepreneurs for too long,” said Oliver Takach, Keep’s Co-founder and CEO. “We are building the financial operating system that Canada’s small businesses actually need – one that provides the technology, tools, and services to help them thrive.”

Takach, a two-time Y Combinator founder, brings deep entrepreneurial insight to the problem. In 2019, he bootstrapped a business to C$2 million in revenue, confronting first-hand the fragmentation and inefficiencies of existing financial tools.

“Keep was born from my frustration with fragmented systems and banking inefficiencies,” he explained. “We are building what I desperately needed back then.”

Keep’s integrated platform includes:

• Canada’s first FinTech business credit card
• Automated expense management
• Multi-currency accounts
• Flexible global bill pay

These features are designed to streamline operations and replace the fee-heavy, siloed solutions that continue to hinder SMB productivity.

Keep has already onboarded over 3,000 small businesses across multiple industries. In 2024 alone, it surpassed C$20 million in annualised revenue and achieved over 300% net dollar retention—a testament to high customer satisfaction and product value.

Looking ahead, Keep aims to serve 100,000 small businesses by 2027, enabling them to save over C$250 million annually in banking and software fees. “This funding brings us one step closer to our ultimate goal: ensuring that no Canadian entrepreneur’s vision is constrained by access to fair, flexible financial services,” Takach concluded.