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Today marks a pivotal moment in our journey. We are proud to announce that Vault is officially rebranding to Venn—and along with this change, we’ve raised $21.5M in Series A funding from Left Lane Capital, XYZ Venture Capital, Intact Ventures, and Gradient to fuel our mission of transforming business banking for Canadian companies

‍How it Started

When we started Vault three years ago, our goal was simple: provide Canadian businesses with CAD and USD accounts that would help them save on payments. Over time, as we listened to our customers and saw firsthand the challenges they faced with outdated banking systems, we realized there was a much larger opportunity. High fees on basic transactions, in-branch visits, poor FX rates, and a patchwork of financial tools left businesses with a constant headache. From seeing the solutions our international peers had and comparing it against what we are offered, we knew that Canadian business owners deserved better.

That’s why we evolved our platform from just multi-currency accounts (or being just a “Vault”) to a holistic solution designed to simplify every aspect of financial management. Today, Venn offers global accounts, spend management, transfers, FX services, accounting automation, and more—all integrated into one seamless platform. Our mission is to be the only platform businesses need to manage their financial stack and drive growth.

Since our 2023 launch, we’ve onboarded over 4,000 businesses, and we’re now moving upmarket, partnering with companies like Sherpa, MedEssist, and Alan. These collaborations reaffirm our belief that the time has come for a new business banking solution, one that not only helps businesses save money but also empowers them to thrive in today’s global marketplace.

What’s Next

This rebrand and our recent funding are not just about a new name or logo but rather they represent our deep commitment to our customers. Our team remains dedicated to building a platform that addresses the unique needs of Canadian businesses. With this round we’re excited to:

• Expand our product offerings to create a true all-in-one financial platform for Canadian businesses and fulfill our mission to be the only financial platform businesses need to manage their finances and grow.
• Continue to build a seamless experience, consolidating fragmented financial tools into one integrated platform.
• Scale our team to serve you better and faster.

Our users are at the heart of everything we build. Every feature we ship, every product decision we make, and every improvement we roll out is shaped by you—our customers. Whether you’re sending us weekly screenshots of what’s working (or not), sharing detailed feedback from your team, or supporting us on social media, we see you.

We’re not ones for cheesy sayings, but this time, it really does feel like the beginning. Over the next couple months, we’re rolling out a wave of new features—some we’ve been waiting over a year to ship. These updates will let you handle your finances faster, cheaper, and with even fewer tools (because who actually enjoys juggling a dozen platforms?). 

As we embrace this new chapter under the Venn name, our core promise remains unchanged. We’re still the same dedicated team, and we remain committed to delivering solutions that help you grow, thrive, and compete on a global scale. Thank you for trusting us with your business; we’re excited about the future and look forward to continuing this journey together as Venn.

Ahmed Shafik & Saud Aziz

Co-Founders, Venn (formerly Vault)

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