Keep, an all-in-one financial platform for small businesses, has emerged from stealth with C$33 million in equity financing, aiming to create a Canadian equivalent of Brex.
The funding round was led by Tribe Capital, with participation from Rebel Fund, Liquid2 Ventures, Cambrian, Assurant Ventures, and numerous angel investors, including executives from Robinhood, Venmo, Stripe, Plaid, Chime, Coinbase, Ramp, and Alloy.
Additionally, the startup has secured a C$71 million credit facility from Coventure and a C$4 million venture debt line from Silicon Valley Bank. Keep emphasizes that Canada’s small business banking market, valued at over $500 billion, is still dominated by legacy players offering outdated technology, poor customer service, and inflexible underwriting processes that hinder growth.
While companies like Brex, Mercury, and Ramp have made significant progress in the U.S., Canadian entrepreneurs lack similar choices. Keep plans to lead a financial revolution in Canada with services tailored to the country’s tax systems, banking regulations, and business requirements.
Clients will benefit from a business credit card, automated expense management, multi-currency accounts, and flexible global bill pay—all aimed at eliminating the cumbersome, fee-laden options currently available.
Despite just launching, Keep achieved C$20 million in annualized revenue last year, onboarding over 3,000 small and medium-sized businesses across various industries. Oliver Takach, CEO of Keep, states, “Traditional banks have failed Canadian entrepreneurs for too long. We’re building the financial operating system that Canada’s small businesses truly need—one equipped with the technology, tools, and services to help them thrive.”