Venn (formerly Vault)

Nothing marks a new chapter quite like seeing our new name—Venn—on full display. Also a fitting time to have our first full team photo! ?? Huge thanks to TMX Group for helping us mark this milestone as we celebrate our $21.5M Series A and rebrand from Vault to Venn. We started with a simple goal: help Canadian businesses save on payments. But as we listened to our customers, we saw a bigger opportunity. Businesses weren’t just looking for lower fees—they needed a better way to manage their finances entirely. Check out more on our rebrand and fundraise in our latest post (link in comments). ?? Yisheng Guo Amin Azimi Shani Mithani Rushabh Parekh Leo Katz Alphaeus Tan Saud Aziz ?? Tom Keane Yurii Shylov ?? Denys Boiko Anton Riabov Ahmed Shafik

We may have done the unprecedented. Last night, we invited customers to our office in Downtown Toronto for our first-ever Customer Appreciation Event, a chance to celebrate the businesses that got us to this point. These are the founders and operators who trusted us early, gave us feedback, and helped shape what Venn is today. Getting this office just last month was a big milestone for us. After raising our latest round and launching our rebrand, we knew we wanted to make the most of the space, not just for our team but for the community we’re building. What better way to break it in than by bringing together the people who’ve been with us from the start? It was incredible to see entrepreneurs connect, share experiences, and learn from each other about what it takes to build in Canada. Seeing everyone reminded us why we do what we do because building a business isn’t just about the numbers, it’s about the people behind them. To everyone who joined us, thank you for being part of this journey. We hope to host many more events in the future!

Getting paid is about to get a whole lot easier. A new feature is coming that changes the way businesses manage payments. See you March 17 at 9 AM ET. Any guesses on what’s launching? Let us know in the comments.

When we started out, I knew every single one of our customers and the entrepreneurs building them. I onboarded them personally. In the early days, we were scrappy, asking friends, family, and anyone who’d listen to sign up. Every new customer felt like a personal win. Now, with 4,000+ businesses on Venn, I still have close relationships with many, but I’ve accepted that this level of connection is difficult to scale. What hasn’t changed is how much I care. I’ll always be our customers’ biggest advocate. We win when our customers are winning so I love celebrating their successes. Last week, while we announced a big milestone for Venn (formerly Vault), I didn’t expect the roles to be reversed. The outpouring of support from customers was a powerful reminder of the impact we’ve been able to have. Some familiar faces, but also so many new ones. Businesses I hadn’t personally met but who still feel that same connection to Venn. If this is what 4,000+ looks like, I can’t wait to see what 10,000 brings.

We’re hiring! Join Venn and transform Business Banking for 4,000+ Canadian entrepreneurs ???? Venn is growing fast, and we need top talent to help us scale. We recently raised $21.5M Series A and are going full speed to redefine business banking in Canada. We’re looking for: ?? Senior Frontend Engineer ?? Account Executive ?? Head of Partnerships As the only truly modern digital banking platform built from the ground up, we’re shaking up traditional banking. Our all-in-one solution helps thousands of Canadian businesses save time and money, and we’re just getting started. Apply now on our LinkedIn page!!

Excited to share our latest case study featuring HotTakes! Based in Toronto, HotTakes is redefining sports gaming, offering users the chance to win real money prizes without spending a dime. But as they scaled, financial inefficiencies were holding them back. Costly e-transfer fees, FX charges on USD software, and limited financial controls were cutting into their bottom line. With Venn, they eliminated hundreds in fees each month, streamlined payments with QBO integration, and gained multi-currency flexibility to reduce FX costs. "Venn’s multi-currency cards are a game changer. No more FX fees when paying for US-based software or travelling. It simplifies everything and saves us a ton of money." Kevin Jing, Co-Founder & CFO, HotTakes Check out the full case study in the comments ??

Its been one week since we became Venn (formerly Vault) and the new name and look are starting to feel familiar to us already. We hope you feel the same way! You can also see the new look on updated website at venn.ca! Change always takes a little bit of time to settle in, but this one already feels like us and definitely represents what we’re building for Canadian businesses. ????

Thank you to XYZ Venture Capital for writing about us and also participating in the raise. Big thanks to Ross Fubini, Camille Ricketts, and Lucy Wilmot for your support! At Venn, we’ve always believed that Canadian businesses shouldn’t have to settle for outdated banking. Thats why we’re building a platform that gives businesses the speed, flexibility, and transparency they deserve. Check out the article: https://lnkd.in/guNirH4X

It is no secret that SMEs drive Canada's economy - businesses with fewer than 500 employees account for 99.8% of Canadian businesses and ~50% of GDP. Most Canadian exporters are SMEs, and, as of 2022, SMEs were responsible for close to 8 million jobs in Canada or 63.8% of the private labour force. ? Speak to any Canadian business owner or operator and they will tell you - Canadian business banking is fundamentally broken. With their precious time and resources, small businesses are forced to navigate physical branch lines, archaic systems and exorbitant fees. Enter Venn (formerly Vault) - the full stack banking and financial platform for Canadian businesses offering expense management, FX services, accounts payable, and automated accounting meant to save time and money. ? I am excited to announce Intact Venture's investment in Venn (formerly Vault)'s Series A alongside great investors like Left Lane Capital, XYZ Venture Capital, Gradient and others. We are thrilled to be backing Saud Aziz and Ahmed Shafik on their journey to redefining Canadian business banking. We have been beyond impressed by what the Venn team has achieved to date: >400% revenue growth, rapid product development and 4,000 businesses already counting on Venn's platform to manage their finances. A huge congrats to Saud, Ahmed and the entire team on these achievements. ? https://lnkd.in/gvQzYhD9

What a month its been for Venn! ???? We moved into our new downtown Toronto office, had an incredible time meeting fellow Canadian entrepreneurs at Built in Toronto, and announced our Series A fundraise. All were huge milestones for the team— 1. The office move was a true team effort (as Leo Katz puts it, everyone got to be a generalist). It’s exciting to have a dedicated space where we can all collaborate, and it's been a lot of fun! 2. At Built in Toronto, our Co-Founder Saud Aziz, alongside Colleen Chang, Evan Neff, and Katie Ko spoke about the real, unfiltered journey of building a startup in Canada—what it takes, what makes it worth it, and why the community around you matters more than ever. Thank you to Ripple Ventures, The Cansbridge Fellowship, and Microsoft Reactor for helping put together the event. 3. And finally last week, we also officially announced our $21.5M Series A led by Left Lane Capital, with participation from XYZ Venture Capital, Intact Ventures, and Gradient. This raise will allow us to grow our team, expand our offerings, and serve you better so stay tuned for updates (and hiring posts!). Excited for what’s ahead!