The Globe and Mail reports in its Thursday, June 25, edition that Float Financial Solutions has secured $85-million in new funding, raising its valuation to $548-million. The Globe's Meera Raman writes that this investment reflects confidence from investors in one of Canada's fastest-growing financial technology companies and its expansion into artificial intelligence-based finance software. The all-equity Series C financing, or late-stage venture funding round, was led by Montreal venture capital firm Inovia Capital. Existing investors Goldman Sachs Alternatives and Garage Capital, as well as new investors BDC Capital and Northleaf Capital Partners, also participated. As part of the transaction, Inovia partner Dennis Kavelman will join Float's board of directors. Mr. Kavelman is a former chief financial officer of BlackBerry. Float said $75-million of the financing has closed, with the remaining $10-million expected to close in the next few weeks. The proceeds will go to the company's coffers, rather than existing shareholders. Float's valuation is roughly 70 per cent higher than it was after a $70-million financing announced in January, 2025. Float plans to use its latest funding to expand its AI capabilities.