Venn, a Canadian fintech platform, has announced the introduction of 2% interest on all Canadian Dollar (CAD) and US Dollar (USD) balances held in its business accounts, with no minimum balance requirements or interest caps for its over 5,000 customers.

This initiative aims to provide Canadian businesses with a method to grow their funds while maintaining accessibility for daily operations. The 2% interest feature is available to both existing and new customers immediately.

Ahmed Shafik, Co-founder of Venn, stated, “In an era where every dollar counts, we’re enabling Canadian businesses to maximize their earnings effortlessly while keeping their funds fully accessible.” He added that the feature is designed to help Canadian businesses compete globally, noting that traditional banking models often place businesses at a disadvantage with high fees and lack of interest on everyday operating funds.

The interest offering follows a series of recent product enhancements by Venn tailored for Canadian small and medium-sized businesses (SMBs). These include Venn Incorporation, which facilitates company incorporation and business account opening for Ontario entrepreneurs, along with the recent addition of Apple and Google Pay support, AI-powered receipt matching, and improved team spending controls.

Venn’s platform offers an all-in-one suite of business banking tools, including multi-currency accounts, corporate cards, expense management, and automated accounting. Shafik reiterated the company’s commitment, stating, “As founders, we’ve always believed that businesses deserve a banking platform that works for them. This new feature is another way we’re making business banking simpler and more rewarding for companies across Canada.”