Toronto-based fintech Loop has announced a $6.4 million funding round, raising its total to over $10 million. Founded in 2015 as a financing provider, Loop pivoted in 2022 to simplify international finance for small- and medium-sized businesses (SMBs). Loop’s platform addresses cross-border payments, currency exchange, and treasury management, areas where SMBs are often underserved by traditional banks.
The funding, led by Luge Capital and other venture partners, will fuel Loop’s international expansion and product development. CEO Cato Pastoll emphasized the company’s mission to help businesses grow globally by reducing financial barriers.
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