Fundraising Fox

Flow Capital

Venture debt

Toronto · Growth–Late Stage

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Investment thesis

Flow Capital offers growth capital designed to help entrepreneurs scale their companies. It positions its financing as a middle-ground option that is more flexible than conventional bank debt while being less dilutive and less expensive than raising venture capital equity, targeting founders who want to grow with confidence.

Source: firm website, verified Aug 3, 2026.

Stage
Growth–Late Stage
HQ
Toronto, ON, CA
Instruments
Debt
Tracked investments
48

What they invest in

from 41 of 48 portfolio companies

AI & Machine Learning ×17SaaS ×14Enterprise Software ×12Fintech ×8Consumer ×6Healthtech ×5Marketing Tech ×5Data & Infrastructure ×4

HQs:United States×18Canada×4United Kingdom×2

Who they back

founder profiles across 16 portfolio companies
44%
solo founders
7 of 16 mapped founding teams

Founding team size:solo founder×72 founders×73 founders×2

Investments · 48 tracked

founders shown can be your intro path

By year:2022 · 12019 · 12 dated

Trugolftrugolf.com𝕏NASDAQ: TRUG

TruGolf designs and builds indoor golf simulators, launch monitors (APOGEE), and E6 simulation software for home users and commercial indoor golf facilities.

GamingHardwareSports Tech

42Crunch42crunch.comin𝕏

42Crunch provides API security tooling that applies governance and protection controls across the software lifecycle, from OpenAPI contract auditing and scanning at design and build time to runtime protection.

AI & Machine LearningCybersecurityDeveloper Tools

Co-investorsEnergy Impact PartnersAdara Ventures

Askvetaskvet.app

AskVERAai provides AI-powered veterinary consultations and customer engagement automation for veterinary practices.

AI & Machine LearningHealthtech

AskVetask.vet

AskVet offers an AI assistant (VERAai) that provides veterinary expertise and automates sales, marketing, and client communications for veterinary businesses.

AI & Machine LearningHealthtechSaaS

Co-investorsHealthtech CapitalLaunchCapital

Aurora Designsaurora-designs.cain

Aurora Designs helps businesses identify and implement custom AI automation systems within their existing tools to eliminate manual work and improve operational efficiency.

AI & Machine LearningEnterprise SoftwareSaaS

AvantStayavantstay.comin𝕏

AvantStay operates a collection of fully furnished, design-forward vacation rental homes in sought-after U.S. destinations, offering short- and long-term stays with amenities like concierge service, Wi-Fi, and smart locks.

B2B MarketplacesFuture of WorkMarketplacesPropTechTravel & HospitalityCulver City, US

Sean Breuner(Executive Officer, Director, Promoter)Reuben Doetsch(Executive Officer, Director, Promoter)Jesse Suarez(Executive Officer)Jodi Kessler(Director)

BoardShawn Colo(Director)Eric Wiesen(Director)in

Co-investorsAbstract VenturesBlue Ivy VenturesBullpen CapitalConvivialité VenturesDaft CapitalEvolution VC Partners+5 more

Ballotreadyballotready.org

BallotReady provides nonpartisan data on ballots, elections, and elected officials, along with tools for voter registration, polling place lookup, contacting officials, and running for office.

ConsumerData & InfrastructureGovTechImpact & Social GoodSaaSChicago, US

Aviva Rosman(Founder)Alexandra Niemczewski(Founder)Alex Niemczewski(Founder)in

Co-investorsHigher Ground LabsInvestHER VenturesWakestream Ventures37 Angels

Bearabybearaby.com𝕏

Bearaby makes weighted blankets and related sleep and wellness products, including cooling sheets, pillows, sleep masks, heated wraps, and weighted plushies.

ConsumerDirect to ConsumerWellness & Fitness

Co-investorsAssembled Brands

Bluedropbluedrop.com

Bluedrop operates two business divisions: one providing integrated skills management solutions, and another offering complex equipment and mission training services.

EdTechEnterprise Software

Boardwalktechboardwalktech.com

Boardwalk Technologies offers a platform for managing business operations and client relations.

AI & Machine LearningEnterprise SoftwareSaaSCupertino, US

Steven Parry(Director)Dharmesh Dadbhala(Executive Officer)Ravi (Ganesh) Krishnan(Executive Officer, Director)Sarang Kulkarni(Executive Officer)James B Kuppe(Executive Officer)Glenn Cordingley(Executive Officer)

Co-investorsMontage CapitalSQN Venture Partners, LLC

Clearbluetechnologiesclearbluetechnologies.comin𝕏

Clear Blue delivers managed off-grid solar power and lighting systems with cloud-based monitoring and 24/7 remote management for municipalities, telecom operators, and critical infrastructure globally.

CleantechEnergyIoTToronto, CA

Commonwealthretirementcommonwealthretirement.comin𝕏

Common Wealth provides a modern group retirement platform that helps Canadian employees and employers manage workplace pension plans with simplified onboarding and administration.

FintechSaaSCanada, CA

Congruity360congruity360.comin

Congruity360 provides unstructured data management and governance software for enterprises managing large, dispersed datasets across multiple storage systems.

AI & Machine LearningCloud ComputingData & InfrastructureEnterprise SoftwareFall River, US

Co-investorsG20 VenturesSchooner Capital

ConnectAndSellconnectandsell.comin𝕏

ConnectAndSell provides a cloud-based sales acceleration platform that combines human agents and AI to connect B2B sales teams directly with hard-to-reach decision-makers, bypassing gatekeepers and voicemail.

AI & Machine LearningSaaSSales TechLos Gatos, US

Shawn McLaren(Founder)Christopher Beall(Executive Officer, Director)Chris Beall(CEO)William McLaren(Director)Christopher Wade Beall(Executive Officer, Director)

BoardRoger Lang(Director)

Co-investorsMontage CapitalPartners for GrowthPartners for Growth (PFG)IVP (Institutional Venture Partners)

CrowdPropertycrowdproperty.comin

CrowdProperty is a property investment platform offering property-backed lending opportunities where investors earn interest on projects secured by a first legal charge, with features like AutoInvest and an IFISA.

FintechMarketplacesPropTech

Directscaledirectscale.comin𝕏

Exigo (DirectScale) provides a cloud-based software platform for direct selling and multi-level marketing companies, supporting operations, commissions, analytics, and customer management.

Enterprise SoftwareSaaSSales TechLindon, US

Jim Marks(Executive Officer, Director)Rodger Smith(Executive Officer, Director)Gary Fitzgerald(Chief Executive Officer)Beau Coplin(President)Tyler Mortensen(Chief Revenue Officer)Matt Eastman(Chief Operating Officer)

Co-investorsKickstart

Echoboxechobox.comin𝕏

Echobox is an AI-powered social media management platform designed for publishers that automates content posting across multiple social networks by analyzing real-time and historical data to optimize timing and engagement.

AI & Machine LearningMarketing TechMedia & EntertainmentNew York, US

Co-investorsMangrove Capital PartnersLocalGlobe

Escribemeetingsescribemeetings.com
EverWasheverwash.comin𝕏Feb 2022

EverWash offers a subscription service that partners with local car washes to provide members unlimited washes for a monthly fee through an app.

AI & Machine LearningConsumerMarketplacesMobility & TransportationSaaSPhiladelphia, US

Scott Caplan(Co-CEO, Treasurer, Secretary)John Cassady(Co-CEO)Raymond Wong(Director)Jerry Goldstein(Director)

Exigoexigo.comin

Exigo builds custom and pre-configured software for direct selling companies, offering e-commerce, back-office, and commission management on a single platform.

E-commerceEnterprise SoftwareMarketing TechSaaS

Co-investorsKickstart

Factor 75

High-growth company that used Flow's revenue-based financing.

Factor_factor75.com

Factor is a meal delivery service offering chef-prepared, ready-to-eat meals made with proteins, vegetables, whole grains, and fresh herbs, with over 100 rotating weekly options plus breakfasts, smoothies, and snacks.

ConsumerDirect to ConsumerFoodTech

Co-investorsBluestein VenturesListen VenturesHyde Park Angels

Guardifyguardify.comin𝕏Dec 2019

Guardify is a digital evidence management platform used by legal and social service organizations—including prosecution offices, law enforcement, child advocacy centers, and defense offices—to upload, store, share, and archive audio, video, photo, and document evidence.

Cloud ComputingGovTechLegalTechSaaSOmaha, US

Ben Jackson(Executive Officer, Director)inShelly Kurtz(Director)Luis J. Salazar(Executive Officer, Director)

BoardDusty Davidson(Director)Alexander Gounares(Director)Annette Smith(Director)

Co-investorsInvest Nebraska

Herettoheretto.comin𝕏

Heretto is a cloud-based, DITA-powered content operations platform with a component content management system (CCMS), Deploy API, and portal tools that let enterprises create, distribute, and personalize product documentation and self-service help sites.

AI & Machine LearningEnterprise SoftwareMarketing TechSaaSRochester, US

Co-investorsArmory Square Ventures

Hybridfinancialhybridfinancial.comin

Hybrid Financial maintains a proprietary database for marketing and sales campaigns, providing real-time contact intelligence and market data to guide outreach efforts.

Data & InfrastructureMarketing Tech

InteriorMarkinteriormark.com

InteriorMark is a company led by an executive team spanning customer service, data, finance, and web/app development.

ConsumerDirect to ConsumerE-commerceSector Agnostic

Peter Goldstein(Co-founder & Chief Executive Officer)Bruce Tucker(Co-founder & Chief Marketing Officer)Mark Shapiro(Chief Financial Officer)

Jobgetjobget.comin𝕏

JobGet is a mobile job search app that connects workers to hourly jobs in sectors such as food service, retail, healthcare, and trucking, with AI-assisted matching and in-app interview scheduling.

AI & Machine LearningHR TechMarketplaces

Tony Liu(Founder)inPeter Lee(Founder)in

Co-investorsData Point CapitalJAZZ Venture PartnersPillar VCEqual Opportunity Ventures

Judijudi.aiin𝕏

JUDI.AI provides an AI-powered cloud platform that enables community banks and credit unions to streamline small business lending through automated underwriting based on real-time cash flow data.

AI & Machine LearningFintechSaaS

Kovokovo.coin𝕏

Kovo+ provides AI-powered process automation solutions focused initially on medical billing and revenue cycle management for healthcare providers, with plans to expand into IT connectivity, energy, and security sectors.

AI & Machine LearningEnterprise SoftwareHealthtech

Leveljumphealthcareleveljumphealthcare.com
Miniluxeminiluxe.comin

MiniLuxe provides nail care and waxing services along with related products, focusing on clean, non-toxic experiences.

ConsumerDirect to ConsumerWellness & FitnessBoston, US

Anthony Tjan(Executive Officer, Director)Pino Anthony(Executive Officer)Andrew Ervin(Executive Officer)Sue Thirlwall(Executive Officer, Director)John Hamel(Executive Officer)

BoardMats Lederhausen(Director)

Co-investorsKillick Capital

PadSplitpadsplit.comin𝕏

PadSplit is a U.S. coliving marketplace connecting property owners with renters seeking furnished private rooms on all-inclusive weekly terms.

PropTechAtlanta, US

Atticus LeBlanc(Executive Officer, Director)Kathryn Petralia(Director)

BoardArjan Schutte(Director)in

Co-investorsAlate PartnersBase Venture Management, Inc.Core Venture CapitalKapor CapitalKern Venture GroupMetaProp+7 more

Performioperformio.coin

Performio provides sales commission and incentive compensation management software that ingests data from CRM, ERP, HRIS, and finance systems to calculate complex commission plans, with embedded AI and a no-code plan builder.

FintechSaaSSales Tech

Co-investorsJMI Equity

Plantswitchplantswitch.comin

PlantSwitch manufactures home-compostable food packaging and cutlery products from agricultural waste, particularly rice hulls, using a proprietary CompostZero™ bio-resin that breaks down in backyard compost without leaving microplastics.

Circular EconomyFoodTechNew MaterialsSanford, US

MAXIME BLANDIN(Executive Officer, Director)DILLON BAXTER(Executive Officer, Director)

Pulseoilcorppulseoilcorp.com

Pulse Oil acquires and develops oil and gas assets, focusing on increasing reserves and production through strategic acquisitions and operational management.

Energy

Pyurepyure.cain𝕏

The Pyure Company manufactures commercial air purifiers that generate hydroxyls and diffuse organic oxidants indoors to reduce pathogens and air pollutants.

Advanced ManufacturingCleantechHardwareHealthtechBoynton Beach, US

Erik Ryden(Founder)inMahyar Khosravi(Executive Officer, Director)Joel Van Dusen(Director)Aki Georgacacos(Director)Cody Church(Director)Lew Lawrick(Director)

Stabilityhealthcarestabilityhealthcare.comin𝕏

Stability Healthcare operates a talent-matching platform that connects traveling nurses and healthcare professionals with hospitals and healthcare facilities nationwide.

HealthtechHR Tech

Tattle

Business supported by Flow with capital and introductions.

Tnsitnsi.comin𝕏

TNS provides infrastructure-as-a-service solutions for voice protection, financial connectivity, and payment processing across carrier, financial services, and enterprise networks.

Cloud ComputingEnterprise SoftwareFintech

Co-investorsSiris

TVision

Company financed by Flow using tailored funding around its unique IP.

TVision Insightstvisioninsights.comin𝕏

TVision measures TV viewer presence and attention using in-home computer-vision technology, IoT, and data processing applied to a nationally representative household panel, producing second-by-second attention and engagement metrics.

AdTechAI & Machine LearningMarketing TechMedia & EntertainmentCambridge, US

Yanfeng Liu(Executive Officer, Director)Daniel Schiffman(Executive Officer, Director)

BoardBob Mason(Director)

Co-investorsAccompliceGolden VenturesBantam GroupDG Daiwa VenturesFairhaven Capital PartnersFusion+8 more

Unasoftwareunasoftware.comin

Una provides AI-native financial planning and analysis software for finance teams, combining revenue intelligence, continuous reforecasting, and execution tracking in a single platform.

AI & Machine LearningEnterprise SoftwareFintech

Co-investorsEmerald Development Managers

Wedge Networkswedgenetworks.comin𝕏

Wedge Networks provides an AI-driven security platform that detects novel and known threats, orchestrates network security through software-defined approaches, and deploys edge-based traffic scanning and threat response.

AI & Machine LearningCybersecurityEnterprise Software

Hongwen Zhang(Executive Officer, Director)Husam Kinawi(Executive Officer)Rob Fong(Executive Officer)

BoardSheikh Isa bin Khalid Al Khalifa(Director)Hussein Amery(Director)Norman Betts(Director)

Co-investorsVerdex Capital

Wirkn

Company supported by Flow through multiple financing rounds and a successful acquisition.

Wondeurwondeur.ai

Wondeur develops AI systems to analyze and monitor risk on alternative assets (particularly art) for financial institutions.

AI & Machine LearningEnterprise SoftwareFintech

Co-investorsBoxOne Ventures

Worldsourcewealthworldsourcewealth.com

Worldsource is an independent wealth management dealer providing investment solutions, digital tools, and advisory support services to financial advisors and their clients in Canada.

FintechSaaSCanada, CA

Wriskwrisk.coin𝕏

Wrist provides customer-centric, data-driven insurance experiences, including subscription-based insurance products and real-time analytics tools for insurance partners.

Data & InfrastructureInsurTechLondon, GB

Darius Kumana(Founder)in

Co-investorsMundi VenturesOxfordQBN CapitalRLC VenturesVolution Ventures

Exits · 1

IPOs and acquisitions across the tracked portfolio

TrugolfNASDAQ: TRUG

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has Flow Capital made?
Flow Capital has 47 tracked investments.
What stage does Flow Capital invest at?
Flow Capital invests at the Growth, Late Stage stages.
What sectors does Flow Capital focus on?
Flow Capital focuses on Biotech, Consumer, Fintech, Healthtech, Marketplaces, SaaS.
Where is Flow Capital located?
Flow Capital is headquartered in Toronto, CA.
Who does Flow Capital co-invest with?
Flow Capital most often shares deals with Kickstart, Montage Capital, G20 Ventures, among 61 tracked co-investors.

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