Venn

Venn

Business banking platform with virtual cards

Overview

Vault is a business banking platform for small businesses. It lets you manage money online with features like issuing virtual cards, making transfers without fees, and having higher spending limits. You can pay bills and handle corporate expenses from one dashboard. The service uses a simple, paperless signup that takes about five minutes. Money kept with Vault is insured up to $100,000, and there’s 1% cashback on bill payments made with the Vault card. It also offers multi-level payment approvals and secure, transparent transactions with no overdrafts or minimum balances. Revenue comes from transaction fees and value-added services. Vault’s goal is to give small business owners a straightforward, efficient way to run their finances with clear terms and fewer hassles compared to traditional banks.

Significant Headcount Growth

About Venn

Simplify's Rating
Why Venn is rated
C-
Rated C on Competitive Edge
Rated C on Growth Potential
Rated D+ on Differentiation

Industries

Fintech

Financial Services

Company Size

11-50

Company Stage

Series A

Total Funding

$26.8M

Headquarters

Toronto, Canada

Founded

2008

Simplify Jobs

Simplify's Take

What believers are saying

  • Raised $21.5 million CAD Series A led by Left Lane Capital.
  • Rebranded from Vault to Venn targeting Toronto-based fintech growth.
  • Delivers seamless transfers, higher spending limits, and $100k insured funds.

What critics are saying

  • BYOD security firm venn.com dominates SEO, diluting fintech traffic now.
  • Shopify Balance captures SMBs with tailored fee-free banking in 6 months.
  • OSFI probe exposes inadequate $100k insurance versus CDIC $250k in 12 months.

What makes Venn unique

  • Venn provides fee-free business banking with virtual cards for Canadian SMBs.
  • Offers 1% cashback on bill payments and multi-level payment approvals.
  • Quick five-minute paperless application simplifies small business onboarding.

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Funding

Total Funding

$26.8M

Above

Industry Average

Funded Over

3 Rounds

Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.
Series A Funding Comparison
Above Average

Industry standards

$15M
$8.2M
Discord
$15M
Canva
$21.5M
Venn
$30M
Kalshi

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Company Equity

Growth & Insights and Company News

Headcount

6 month growth

42%

1 year growth

42%

2 year growth

30%
PYMNTS
May 30th, 2025
Infosys Adds Ai Agents For Invoice Processing To Ap Platform

Infosys’ business process management arm, Infosys BPM, has added artificial intelligence agents for invoice processing to its Infosys Accounts Payable on Cloud solution. This solution makes invoice processing largely autonomous to enhance efficiency and accuracy, the company said in a Friday (May 30) press release. The solution includes the capabilities of the suite of generative AI services, solutions and platforms called Infosys Topaz, as well as Microsoft’s AI stack, including Azure AI Foundry and other large language models (LLMs), according to the release

PYMNTS
May 20th, 2025
Keep Raises $78 Million For Financial Platform For Canada’S Small Businesses

Keep has emerged from stealth mode and announced it raised 108 million Canadian dollars (about $78 million) to support the development of its financial platform for Canada’s small businesses. This small business banking platform includes solutions designed to meet the requirements of Canadian tax systems, banking regulations and business needs, Keep said in a Tuesday (May 20) press release. “Traditional banks have failed Canadian entrepreneurs for too long,” Keep Co-Founder and CEO Oliver Takach said in the release. “We’re building the financial operating system that Canada’s small businesses actually need — on that provides the technology, tools and services to help them thrive.”

FinTech Futures
Mar 3rd, 2025
Canadian business banking platform Vault rebrands to Venn, raises $21.5m Series A

Vault, a business banking platform based in Toronto, Canada, has raised $21.5 million in a Series A funding round, and has rebranded to Venn.

Business Wire
Feb 27th, 2025
Tech News | American Press Technology News

Venn, the all-in-one financial platform built for Canadian businesses, has raised $21.5 million in a Series A funding round led by Left Lane Capital,

BetaKit
Feb 26th, 2025
Vault rebrands to Venn following $21.5-million Series A round

Toronto-based FinTech startup Vault has received a new deposit of $21.5 million CAD in Series A and locked down a new name: Venn.

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