Venn Surpasses 10,000 Businesses as It Builds the Future of Finance for Canadian Companies

Article content

TORONTO — Venn, the all-in-one financial platform built for Canadian businesses, today announced that it is now powering over 10,000 businesses across the country.

Article content

For two centuries, Canadian businesses have operated within one of the most concentrated banking markets in the world, facing high fees, outdated infrastructure, and tools that were never built for how they actually operate. Founded by former Revolut employees Ahmed Shafik and Saud Aziz, Venn was built to change that. Since raising $21.5 million in a Series A led by Left Lane Capital last year, the company has tripled its team, rebuilt its platform, and layered software on top of banking to deliver meaningful cost and time savings for Canadian businesses. At the core of this is Venn Intelligence, an AI layer across all products designed to make the entire experience 10x more efficient.

Article content

Article content

Article content

The 10,000 businesses on Venn span every industry and stage of growth. From local restaurants like Vero Italian Sandwiches, to fast growing startups like Spellbook, to international companies like Alan expanding into Canada, the platform serves businesses that look nothing alike, united by the need for something better than traditional banking and fragmented finance software.

Article content

Article content

“Growing up watching our parents run businesses, we saw firsthand how broken and expensive banking felt for them,” said Aziz. “We had both seen what was possible globally and knew Canadian businesses deserved the same. We built Venn for every Canadian business, and seeing who is using it today is the most validating thing we could have asked for.”

Article content

Venn’s growth has been driven by owning both the financial infrastructure and the software layer, and shipping relentlessly against real customer problems. That combination allows the team to move faster and deliver a level of product quality that fragmented tools and traditional players can’t match.

Article content

“Our customers don’t just use the product, they shape it. Every piece of feedback reaches the entire team in real time, and we build on it immediately,” said Shafik.

Article content

A handful of institutions having run Canadian business banking largely unchallenged for over a century, businesses have been left with high fees, outdated infrastructure, and a growing patchwork of fragmented finance tools to fill the gaps. Venn’s focus remains the same as it has always been, building the best product possible, unifying banking and the software that sits around it, closing that gap one feature at a time, and giving businesses a platform that lets them focus on what actually matters.

Article content

“Canadian businesses have been forced to stitch together banking, cards, payments, and software across multiple providers for far too long,” said Shafik. “We built Venn to replace all of that with a single platform that actually works the way modern companies operate.”

Article content

With 10,000 businesses on the platform, Venn is now focused on its next milestone, supporting more than 100,000 businesses as it continues to scale.

Article content

To celebrate the milestone, Venn is giving $10,000 to a Venn customer. Full details are available at venn.ca/10k.

Article content

Article content

Article content

Article content

View source version on businesswire.com:

Article content

Article content

Article content

Contacts

Article content

Article content