KEO Capital launches Canada push with USD $50m loan

KEO Capital has launched operations in Canada through its Workeo Canada subsidiary, following a revolving senior loan facility of up to USD $50 million from a Canadian bank.

The fintech has established its Canadian headquarters in downtown Toronto and appointed a local leadership team as it expands its business-to-business payments and financing offering in the country. The launch builds on operations it has run in Latin America since 2020, where its model has facilitated more than USD $1 billion in financing.

KEO Capital's Canadian business will offer its Workeo platform to companies looking to manage supplier payments and working capital in one system. Approved businesses can access a revolving credit facility to extend payment terms for supplier invoices and operating expenses, while suppliers can receive payment sooner.

Suppliers often wait 30, 60 or 90 days for payment, while buyers are under pressure to manage cash flow and maintain supplier relationships. Workeo is designed to sit alongside existing banking arrangements rather than replace them.

Canadian push

Initial service availability covers Ontario, British Columbia, Alberta, Manitoba and the Atlantic provinces. Services are not currently available in Quebec or Saskatchewan, and availability may vary by province because of regulatory requirements.

Workeo is aimed at mid-market and larger businesses in sectors including manufacturing, construction, logistics, wholesale distribution, professional services, multi-location retail and healthcare. The platform supports local-currency payments in domestic transactions.

The system uses blockchain technology for transaction execution and record-keeping. KEO Capital says this approach is intended to support transparent and immediate business-to-business payments across local supply chains.

The Canadian launch comes as businesses face pressure from longer payment cycles and higher costs, increasing scrutiny of treasury management and short-term liquidity. Supply chain finance providers have sought to address this by giving buyers more time to pay while offering suppliers earlier access to receivables.

KEO Capital is publicly traded and describes itself as a technology-led financial solutions provider focused on business payables and supply chain finance. In addition to its financing activities, the group disclosed that it holds an indirect equity stake in Venezuelan oil company PetroUrdaneta and has an agreement to increase that interest.

Executive view

The company described Canada as a key step in its broader expansion beyond Latin America.

"Launching KEO Capital's operations in Canada marks an important milestone in the roll-out of our Workeo platform. Establishing a foothold in such an important, dynamic, and significant market enables us to provide local-currency payment solutions to help more businesses improve cash flow, strengthen supplier relationships, and manage payments. As we grow our Canadian team and work alongside our Canadian customers, their insights will strengthen the Workeo platform," said Roberto Marchiori, Chief Executive Officer, KEO Capital.

The financing line from a Canadian bank provides the lending base for the local operation as KEO Capital enters a market dominated by traditional banks, invoice finance firms and specialist supply chain finance providers. By combining credit with payment administration in one system, it is targeting businesses that want to manage both sides of supplier settlements through a single process.

Toronto is central to that effort, with the company choosing the city for its Canadian headquarters as it builds out domestic operations. The launch marks KEO Capital's first formal operating presence in Canada after several years focused on Latin American markets.