Float uses Visa virtual card to give SMBs quick access to credit
Eliminating the long wait for business card accounts in Canada, Float uses virtual cards as a business differentiator.


Challenge
Float identified a crucial gap in the marketplace: many business owners and finance teams were stuck with slow, outdated and manual spend management processes that lacked the capabilities they needed to successfully manage modern finances.
Traditional business account opening and card issuance in Canada often takes longer than many SMB teams expect, and brings several difficulties, including:
- Manual approval processes that slow down purchasing
- Security concerns and limited visibility into cashflow due to card sharing
- Receipt coding and reconciliation processes requiring employees to chase down paperwork
- Tens or hundreds of hours spent manually updating spreadsheets to gain a clear view of account balances
Demand was high for a more powerful digital spend management solution, on par with the sophisticated software offerings available for marketing, sales, product and engineering teams.
Solution
Float launched with the goal of delivering a unified, user-friendly digital spend management experience that connects virtual cards and physical cards to proprietary spend management software, giving business owners better control and visibility over their business spend.
SMB virtual cards are the foundation of Float’s core offering. Float addresses the long wait to open business card accounts, providing virtual card access to approved clients within three business days. SMBs can issue unlimited virtual and physical cards on-demand, helping to streamline employee spend for subscriptions, work-from-home equipment, marketing campaigns, travel and entertainment, healthcare and various other business purchases.
Float software further extends virtual card capabilities by allowing SMB owners to control a wide range of spend permissions, set separate spend limits for different merchant categories, easily break out spend data for different categories, automate receipt collection and coding, and even lock cards if receipts aren’t submitted.
Results
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