Small businesses issue employees corporate cards via the fintech firm, then use its software to automatically track expenses and manage spending. Other backers include Toronto’s Golden Ventures, Waterloo, Ont.-based Garage Capital and San Francisco-based Susa Ventures, as well as scale-up executives Michael Katchen (Wealthsimple) and Kirk Simpson (Wave). Tiny Capital, an investor in The Logic, also participated in the round. (The Logic)

Talking point: It’s been just under four months since Float announced its $5-million seed round. Since then, the volume of payments made using its products has grown twentyfold, said Golden Ventures partner Jamie Rosenblatt in a blog post. New York-based Tiger has a reputation for matching that kind of scaling velocity with quick closes at aggressively friendly terms, and for supporting multiple rounds in a single firm in rapid succession. The firm has done a spate of Canadian deals this year, including co-leading Toronto-based ResQ’s US$39-million Series A last month and participating in a May US$80-million Series B for Vancouver’s Dooly, which had only announced its seed and Series A rounds in March. As one Canadian VC told The Logic earlier this year, megafunds can use such early-stage investments as a set of options, watching how startups perform to inform where they put much bigger chunks of their billions in capital.