Loop, a global financial solution designed to simplify cross-border payments, currency exchange, and treasury management, has announced an additional $6.4 million CAD in funding. This, combined with $4 million CAD raised in 2022, brings the total funding to over $10 million CAD. The latest round was supported by investors including Mistral Venture Partners, Luge Capital, Graphite Ventures, Wedbush Ventures, and Conconi Growth Partners.

The funds will be used to accelerate Loop’s growth and advance its mission to create a global financial services solution for businesses.

Cato Pastoll, CEO and co-founder of Loop, emphasized the company’s goal to eliminate the barriers and costs associated with international banking for businesses. Loop aims to provide tools that streamline global financial management, addressing issues such as high fees and complex payment processes.

Loop, launched in 2022, addresses the challenges faced by small and medium-sized businesses in managing international finances. The platform offers a seamless experience for cross-border transactions, eliminating the friction and expense of traditional banking methods.

Raif Barbaros, Partner at Mistral Venture Partners, highlighted the platform’s potential to unlock global growth for small and medium-sized businesses, praising Loop’s innovative approach. David Nault, General Partner at Luge Capital, also commended Loop’s ability to meet the needs of businesses expanding internationally.