V

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.

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About Venn

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

Industries

FintechFinancial Services

Company Size

11-50

Company Stage

Series A

Total Funding

$26.8M

Headquarters

Toronto, Canada

Founded

2008

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Simplify's take

What believers are saying

  • April 2026 Series A raised $21.5 million from Left Lane Capital and new investors.
  • Venn reached 10,000 businesses by April 2026 and 15,000+ by November 2026.
  • Fall 2026 releases added bulk payments, mobile approvals, and AI drafting for faster workflows.

What critics are saying

  • Quebec exclusion blocks a major Canadian market and limits national expansion.
  • Traditional banks and Revolut-style fintechs can match Venn's cards, FX, and spend software.
  • If deposit or partner-bank trust breaks, payroll and bill-pay failures could kill the platform.

What makes Venn unique

  • Venn owns ledger, cards, FX, and accounting workflows for Canadian businesses.
  • September 2026 mobile app and Venn Assistant push approval, transfers, and admin into one system.
  • Venn serves 15,000+ businesses with CAD, USD, GBP, EUR accounts and unlimited 1% cashback cards.

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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
$15M
$21.5M
$30M

Benefits

  • Health Insurance
  • Dental Insurance
  • Vision Insurance
  • Company Equity

Growth & Insights and Company News

6 month growth

-18%

1 year growth

4%

2 year growth

10%
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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