Loop Financial
Canada's first no-fee multi-currency credit card platform for entrepreneurs, offering global banking tools and competitive FX rates.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | CAD6.4m | Seed | |
| Total Funding | 000k | ||
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Bankonloop.com is a dynamic startup revolutionizing the financial landscape for entrepreneurs and businesses in Canada. Loop offers a comprehensive banking platform that provides global banking details, multi-currency corporate credit cards, and international payment solutions. The company is designed to help businesses save money, save time, and grow globally.
Loop's primary clients are entrepreneurs and small to medium-sized businesses looking for efficient and cost-effective banking solutions. The startup operates in the financial technology (fintech) market, which focuses on using technology to improve financial services. Loop's business model is centered around providing a suite of financial tools and services that are typically expensive or cumbersome to obtain from traditional banks.
One of Loop's standout features is its no-fee multi-currency credit card, which allows businesses to save money on every transaction. Unlike traditional banks that charge high fees for currency conversion (typically 3-4%), Loop offers global FX conversion with a minimal 0.5% markup. This makes international transactions significantly cheaper for businesses.
Loop also offers flexible credit limits, allowing businesses to manage cash flow more effectively. Companies can distribute funds across multiple cards, making it easier to handle expenses and production costs. Additionally, Loop provides financing options for large purchase orders, helping businesses grow without sacrificing equity or a percentage of their sales.
The startup's transparent pricing model is another key advantage. While traditional banks often hide their fees, Loop makes it easy for clients to understand what they are paying. The company currently offers a free plan with the option to unlock more features and lower rates through simple and transparent pricing tiers.
In summary, Loop is a fintech startup that provides a one-stop banking platform for entrepreneurs and businesses. It offers global banking tools, multi-currency credit cards, and international payment solutions, all designed to help businesses save money, save time, and grow globally.
Keywords: fintech, multi-currency, credit card, international payments, entrepreneurs, small businesses, global banking, transparent pricing, cash flow management, financing.