Calgary’s fintech momentum continues as Finofo announces a $3.3 million oversubscribed seed funding round to scale its platform for global finance operations.
The startup, co-founded by Alberta finance veterans Prateek Sodhi and Charles Maranda, enables mid-market companies to streamline international payments and reduce foreign exchange losses.
The funding was led by Watertower Ventures, with support from Motivate Venture Capital, SaaS Ventures, and Alberta-based early-stage investors that also backed Finofo’s $1.7 million pre-seed round.
Built in Calgary and built for global reach, Finofo has rapidly grown to serve more than 180 North American companies with a platform that automates complex financial workflows in minutes—cutting costs and fraud risks while offering real-time audit trails and multi-currency control.
“We’ve built the company with a mindset that’s very Albertan—sustainable, scrappy, and allergic to waste,” said CEO Sodhi. “While others chase scale at any cost, we’re focused on lasting value.”
Finofo’s tools are especially impactful for Alberta’s energy companies, which conduct billions in daily cross-border trade with U.S. partners. The platform helps firms slash FX fees, automate high-volume invoice payments, and instantly shut down compromised payment cards—an increasingly vital security feature in an era of growing financial fraud.
With Calgary emerging as a serious fintech hub alongside firms like Helcim, Neo, and Symend, Finofo’s success signals continued momentum in the province’s diversification into finance and technology.
The announcement comes just ahead of the G7 Summit in Kananaskis, where financial security and infrastructure will be front and centre. As Canada’s new Prime Minister Mark Carney maps out his economic strategy, Finofo stands as a homegrown example of Alberta-led innovation in a sector once dominated by Bay Street.
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