In the United States, many startups aim to be the preferred corporate spending managers for large and large enterprises. These companies are just to name a few.

Moving north from the border to Canada, the number of choices is smaller, but it grows.

Keep is a startup that builds a financial platform designed specifically for small and medium-sized enterprises (SMBs). On Tuesday, it announced a total of $23 million in equity funds, $50 million in line of credit and $3 million in venture capital lines and shared with TechCrunch.

This year, Keeb raised $12 million in the A1 series it described as led by Tribe Capital. It previously raised $8 million in Series A, led by Tribe Capital in May 2023, and $8 million in a seed round in November 2021.

Treville Capital Group provides credit lines, risky debts from Silicon Valley Bank. Keeping co-founder and CEO Oliver Takach declined to disclose the startup's valuation, which is just "keep Series A valuation 5 times and revenue increased by 20 times."

Takher is no stranger to startups. Before co-founding Toronto’s Keep with Helson Taveras in 2021, he was the founder of Y Combinator twice (Careledger, YCS15 and Origin, YCW17; both startups are now inactive). He also helped find another startup called Retriever, which was sold to a marketing company. Over the years, Takach and Taveras struggled to use available financial tools, especially those provided by traditional banks, so they decided to build their own products.

In 2023, the company's credit card will continue to be launched as part of its "Company Financial Control Center mission." In addition to company cards, Keep also offers enterprise multi-currency accounts, automatic fee management, and integration with accounting software.

In 2024, ongoing annual revenue exceeded $14 million and loaded with more than 3,000 SMB customers, covering a variety of industries, many of which operate internationally. When a business uses a company card, the company makes money partly by swapping revenues. It also charges fees for capital upgrades and short-term installment loans and earns income from advanced payment options when customers send funds immediately or exchange currencies.

According to Takach, Toronto-based Float Financial is also designed to serve Canadian small and medium-sized businesses and is Keep's closest competitor.

In his opinion, one of Keep's differentiators is its multi-currency feature, which can help its customers "like locals" and allow cross-border operations.

Tribe Capital LED Keep's latest equity raise, which includes participation from existing and new supporters Rebel Fund, Liquid 2 Ventures, Cambrian and Assurant Ventures. Including Dropbox co-founder Arash Ferdowsi, WebFlow co-founder and CEO Vlad Magdalin, Alloy co-founder Tommy Nicholas and Laura Spiekerman, and Marc Bhargava (including Dropbox co-founder), including Dropbox co-founder Arash Ferdowsi, Dropbox co-founder Arash Ferdowsi, and Ange Bhargava, including Dropbox co-founder Arash Ferdowsi, and an Anger Bhargava, including Dropbox co-founder Arash Ferdowsi, and a managing director of Anger Catalys.

“Management fees, remittances and collection of currencies, seamless processing of currency transactions and access to controlled funds for employees have become table bets,” Arjun Sethi, co-founder of Tribe Capital, told TechCrunch. “Vertical integration of these services is no longer a luxury, but a new standard.”

Going forward, we continue to aim to launch banking products and add more features such as embedded credit options and bill compensation.