Float vs Venn: Which Solution Fits Your Business?

When it comes to modern business finance, Canadian companies have more choices than ever. Platforms like Float and Venn both promise to simplify spending, improve visibility and give teams control over finances. 

Managing spend effectively has a significant impact on the success of SMBs. Our Financial Outlook of Canadian SMBs in 2025 report shows that 40% of SMBs lack a single source of financial truth, while 30% use financial tools that don’t integrate effectively. This is why the proper solutions are critical for your business. 

But how do you pick what to use? Below, we break down how Float and Venn each stack up across key areas like cards, automation and credit access, to help you choose the right fit for your team. This Float vs. Venn comparison highlights what sets each platform apart and which one can best support your business growth.

Understanding the platforms

Float is a complete financial platform built for Canadian businesses. It combines corporate cards, bill payments, reimbursements and high-yield business accounts into one system. This enables finance teams to control spend, move money instantly and earn up to 4% interest on cash balances.

Venn offers digital business accounts at only 2% interest and prepaid Venn corporate cards designed for smaller teams. Its focus is on quick card issuance and multicurrency transactions, but it lacks the automation, credit access and integrations that larger or growing companies often need.

Think of it this way: While both platforms can get you started, Float also helps you scale efficiently and earn up to double the interest rate, all while maintaining financial control and visibility.

Float vs Venn at a glance

Feature	Float	Venn
High-interest CAD & USD business accounts	✅ CAD & USD accounts with up to 4% interest on balances (tiered)	⚠️ CAD & USD accounts with 2% interest
Flat FX rates	✅ Flat 0.25% FX on all plans	⚠️ Higher FX on base plan, improves only on higher tiers
Corporate cards	✅ Physical & virtual	✅ Physical & virtual
Charge cards	✅ Access up to $3 million in unsecured credit	❌ Pre-funded cards only
1% cashback	✅ Unlimited cashback on ALL spend over $25K (on both CAD and USD)	⚠️Cashback limited by tier  (1% on spend up to $5,000 CAD or CAD equivalent per month on Essentials plan; unlimited only on Pro plan)
Accounting integrations	✅ QuickBooks, Xero, Netsuite and custom API	⚠️ QuickBooks and Xero only
Expense management & approvals	✅ Full expense management, controls, and multi-level approvals	⚠️ Basic controls and tracking
Mobile app (iOS / Android)	✅ Mobile app for receipts, approvals, and spend	❌ No dedicated mobile app
Bill pay	✅ AP workflows + no-fee EFT/ACH transfers	⚠️ Payments supported, but EFT/ACH have fees on lower tier
Support & service	✅ Canadian-based, multi-channel support (incl. phone/SMS)	⚠️ Fewer support channels (no phone/SMS) and no French support

Business accounts, interest rates and FX

With the basics out of the way, let’s get into one of the most important parts of any finance platform: how your money is held, how it grows and what it costs to move.

When you compare the two platforms side-by-side, the biggest early difference is how each handles business accounts and the returns you earn on your cash.

Venn recently announced a flat 2% interest rate for USD and CAD balances, which is a helpful step up from the 0% interest many digital solutions offer. But this rate doesn’t change based on balance, and their FX pricing varies significantly based on which plan you’re on. Lower-tier plans come with higher FX markups, and only Venn’s most expensive plan offers something close to Float’s pricing.

Float, on the other hand, offers two interest tiers, both above Venn’s:

• 2% on both USD and CAD balances under $50,000
• 4% on balances $50,000 and above

These high-yield business accounts give Canadian companies a way to earn meaningfully more on their cash—without lockups, monthly fees or complexity.

Float also keeps cross-border operations simple. You can convert between CAD and USD instantly at an all-in 0.25% FX rate (roughly 90% cheaper than traditional banks) which is available on every plan. Venn’s lower-tier plans have higher FX rates, which can make a noticeable difference for teams that pay US vendors or operate across currencies.

When it comes to security, all Float funds are held 1:1 in trust at a Tier 1 Canadian bank and are eligible for CDIC protection up to the applicable limits through our banking partner, adding another layer of safety for your business.

If you’re looking for stronger returns on your cash, predictable FX and a more complete Canadian business account experience, Float has a clear advantage.

Corporate cards

Now let’s move from managing funds to controlling day-to-day spend, starting with corporate cards. Both platforms offer physical and virtual corporate cards, but how they work is where the gap widens.

The Venn corporate card option is prepaid only, meaning funds must be loaded in advance. That can limit flexibility, especially for companies managing multiple teams,  recurring vendor payments and higher transaction volumes.

Float’s cards, on the other hand, offer both prepaid and charge options, each tailored to different business needs. This means businesses can access the model that best fits their stage of growth, whether they’re optimizing cash flow through prepaid cards or unlocking up to $3 million in unsecured credit with Float’s charge program. With either funding model, you can issue unlimited cards in CAD or USD and set custom spending limits, all accessed without a personal guarantee. Every card earns up to 1% cashback on spend over $25,000 per month, helping your business reinvest in its growth.

For finance teams managing budgets, reimbursements, and compliance, Float’s all-in-one platform brings together cards, bill payments, and expense management,  replacing manual work with automation and visibility.

The takeaway: Float gives Canadian businesses a flexible, future-ready spend management platform, offering prepaid and charge cards under one roof, faster access to credit and full automation to eliminate manual top-ups or funding delays.

Expense management

Expense management is where Float really shines because it’s designed for both finance teams and employees. The key difference? Robust expense management software that connects seamlessly with accounting systems like QuickBooks, Xero and Netsuite (as well as offering a custom API for additional integrations), which gives finance teams not just visibility throughout the month but also a truly streamlined and easy month-end. On the employee side, Float’s mobile-first workflow lets them submit receipts the moment they spend, not days later. This is in addition to helping reduce friction and finance team time spent chasing receipts. 

Let’s dig a little deeper into this workflow.

Float automates the entire expense process from swipe to reconciliation. Receipts are captured automatically through email, SMS or the Float mobile app, where employees can snap a photo the moment they spend—no more chasing down missing receipts or guessing who bought what.

Float’s OCR technology reads the receipt, pulls key details, and suggests the correct GL code, category, and vendor, reducing manual work and speeding up reconciliation. Transactions sync instantly to your accounting system (QuickBooks, Xero, or NetSuite), and teams can set multi-level approval workflows, merchant restrictions, and category controls, all in real time. Finance leaders get visibility into every dollar spent without waiting until month-end to see where the money went, because the heavy lifting happens automatically.

Venn, by comparison, offers basic spend tracking and more limited accounting integrations. It works well for small teams that want to monitor card usage, but not for those looking to automate their entire expense process.

On average, Float saves finance teams about eight hours a month in manual reconciliation and data entry. That’s one full day every month-end. On top of that, employees save an average of two hours per month by submitting receipts immediately through Float’s mobile-first workflow. These automation and time-saving capabilities are among the top features cited by customers.

Usability and integrations

Both Float and Venn aim to simplify financial management. But Float’s platform goes further, especially for Canadian teams using accounting software.

Float integrates directly with QuickBooks Online, Xero and NetSuite. You can also connect via API or export custom CSV files for use in other systems. Managers can approve expenses or upload receipts right from the Float mobile app (available on iOS and Android).

Venn connects to QuickBooks and Xero at a basic level but lacks a mobile app and advanced automation.

And when you need support, Float’s Canadian-based team is available by phone, SMS, chat or email with no ticket queues or long waits.

Pricing overview

Both platforms use tiered pricing, but what’s included differs significantly. Venn’s plans start with a free Essentials tier and scale up to Plus ($40/month) and Pro ($100/month). Features like lower FX rates or free EFT transfers are only available with higher plans.

Float’s pricing starts at $0 for the Essential plan, $10 per user/month for Professional and custom quotes for Enterprise. Every plan includes CAD and USD accounts with market-leading interest rates, no EFT or ACH transfer fees and transparent FX pricing.

There are no surprise markups, no hidden costs and no minimum balances. Float’s automation, cashback and yield allow you to earn interest and save precious time. 

Unlike the competition, Float gives growing teams the best of both worlds: simplicity and scalability. It’s designed for business and finance leaders who want effortless spend management today, plus the flexibility, control and automation to keep pace with tomorrow’s growth.

Best fit scenarios

No two businesses’ needs are the same. If you’re comparing Float vs. Venn, here’s a quick guide to who each platform serves best.

Choose Float if you:

• Run a growing or multi-user business
• Want to streamline month-end and save ~8 hours per month
• Want to simplify the end-to-end movement and reconciliation of funds
• Need credit access, automation or detailed spend analytics
• Want to earn market-leading interest on your cash while keeping it liquid
• Manage spend and vendors primarily in CAD and USD
• Want your team working with best-in-class, bilingual support

Choose Venn if you:

• Have a small team with straightforward spending
• Spend higher in international currencies outside of USD and CAD
• Don’t need access to credit
• Don’t need robust expense management or direct accounting integrations beyond QuickBooks and Xero advanced automation

Both can simplify business spending, but only Float offers the power, flexibility and control to scale with your company.

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Float vs. Venn: Making the decision

The right choice depends on your business goals. If you’re ready for a smart, integrated finance platform built to serve and grow with Canadian businesses from coast to coast (yes, including Quebec), Float is the clear pick.

In the end, Canadian teams want a finance tool that’s fast, transparent and built for how they actually work. Float checks all three boxes.

Float helps Canadian businesses manage spend, automate month-end, access credit and earn on their cash, all from one intuitive dashboard.

Discover how Float can help your business simplify finance and scale with confidence.

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