Goldman Sachs’s growth equity arm led the round, with participation from OMERS Ventures, FJ Labs, Teralys and existing investor Garage Capital. Float plans to use the money to launch new products, hire new staff and grow its market share in Canada. (The Logic)

Talking point: Float, which provides prepaid corporate credit cards and other financial products to small and medium-sized businesses, is on a hot streak. The deal values Float at more than US$200 million, about 30 per cent higher than the US$150 million it was valued at following its US$30 million Series A led by Tiger Global in 2021. The valuation increase and big-name investors are yet another sign of a resurgence in Canada’s fintech sector, following years of writedowns and low investment. In November, Wealthsimple’s valuation also surpassed its 2021 high, reaching $5 billion after San Francisco’s Iconiq Capital bought $100 million in stock from past and present employees, The Globe and Mail reported.