With two computer science alums at the helm, Float has been making waves in the B2B credit card market
A company founded by two University of Waterloo graduates was named among the 2022 C100 Fellows.
Float, which was co-founded by Cheriton School of Computer Science alums Griffin Keglevich and Ruslan Nikolaev, offers corporate credit card and accounting services.
The C100 fellowships are an annual award for the 20 most promising startups in the Canadian tech and finance sector. The C100 organization has set itself on a mission "to galvanize the global Canadian tech diaspora to support, inspire and advance Canadian entrepreneurship."
Along with the recognition the fellowship brings, winners also receive tailored support and resources to help drive growth in their start-up.
Float has been making waves in the B2B corporate credit card market and recently brought in a whopping $37 million CAD in new investments, with some fintech insiders touting the company as one to watch. The company was created out of work the two former students did with the University of Waterloo’s startup incubator, Velocity.
“Float has shown tremendous growth since their time at the Velocity incubator and this new round of investment puts them on the path to join other Canadian unicorns in a few years,” said Adrien Côté, Velocity’s executive director.
“Often with start-ups, it comes down to a team committed to finding the right opportunity and we're honoured that Velocity could support the Float team as they found their early path to success.”
Along with their technical know-how and programming skills, Keglevich and Ruslan completed a double degree program, pairing computer science at Waterloo with business at neighbouring Wilfrid Laurier’s Lazaridis School.
The company’s third co-founder and current CEO, Rob Khazzam, who joined Float in March 2021, brings a wealth of experience in business and finance, having previously worked for Uber and various venture capital advisory firms.
The products and services Float offers include an all-in-one corporate credit card and spending management solution for Canadian businesses. The basic products are a derivative of more-typical credit cards, but with services specially suited to the needs of businesses.
A company could get a credit card for one of its employees for just one business trip, for example, or for just one type of purchase, or a common account for a whole department.
Float also offers services to approve, manage, track and report spending through integrated applications and software. The adaptability and easy integration of its services for businesses are key characteristics of the company’s offerings.
