Company founded by UWaterloo grads attracts $37-million financing round

With two computer science alums at the helm, Float is poised for massive growth A company founded by two University of Waterloo graduates is on track to become a giant in the Canadian B2B credit card market. Float, which was co-founded by Cheriton School of Computer Science alums Griffin Keg and Ruslan Nikolaev, recently brought in a whopping $37 million CAD in new investments. The company was created out of work the two former students did with the University of Waterloo's startup incubator, Velocity. Along with their technical know-how and programming skills, Keg and Ruslan completed a double degree program, pairing computer science at Waterloo with business at neighbouring Wilfrid Laurier's Lazaridis School. Float has not disclosed any overall valuation, but with ongoing interest and investments from major players in the financial-tech sector it is expected the company is on the cusp of massive growth. The company was founded in 2019 and only six months ago was looking for seed funding. Large investments at this stage are often seen as a key indicator of potential.