Chexy, a fintech platform, has raised CAD $14 million in a Series A round led by Khosla Ventures, with participation from existing investors including Crossbeam, Venrex, and Air Canada.
Founded in 2023, the company initially focused on enabling tenants to earn credit card rewards on rent payments and is now expanding into a broader payments platform covering everyday consumer and business expenses.
What The Company Does
Chexy operates a payments platform that allows users to pay expenses such as rent and bills using credit cards, even when landlords or service providers do not accept them directly. The company facilitates the transaction on behalf of the user, enabling them to earn rewards such as points or cashback on routine payments.
Originally built around rent payments, Chexy is now extending its offering to cover a wider range of household expenses. The platform is also evolving into a centralized financial tool where users can manage payments and track spending across categories.
In addition to its consumer offering, Chexy has begun expanding into the small and medium-sized business segment. Businesses are using the platform to manage payments such as payroll, taxes, and vendor invoices, while benefiting from extended cash flow and reward generation.
Advertisement
Market Context / Industry Background
The payments landscape is undergoing continued digitization, with increasing demand for flexible payment methods and integrated financial tools. Credit card usage remains widespread, but many essential expenses, including rent and certain business payments, are still not natively compatible with card-based transactions.
Platforms that bridge this gap are gaining traction by offering both convenience and financial incentives. At the same time, small and medium-sized businesses are seeking solutions that improve cash flow management and streamline payment processes without adding operational complexity.
Chexy’s expansion reflects a broader trend of fintech platforms evolving into multi-functional financial hubs, combining payments, rewards, and expense management within a single interface.
Founder / Investor Commentary
Co-founder and CEO Liza Akhvledziani Carew noted that demand from small and medium-sized businesses emerged organically, particularly following the company’s partnership with Air Canada’s Aeroplan program. She explained that businesses are increasingly using the platform to digitize payments, manage liquidity, and earn rewards on operational expenses.
From an investor perspective, Khosla Ventures founding partner David Weiden stated that the company has the potential to reshape how consumers and businesses interact with everyday payments, reflecting confidence in the scalability of its model.
Growth Plans / Use Of Funds
The newly raised capital will be used to scale Chexy’s payments infrastructure across Canada, expand its partnership network, and grow its team. The company is focused on strengthening its product capabilities for both consumers and businesses, with particular emphasis on supporting SMB use cases.
Chexy plans to continue building out its platform as a comprehensive financial hub for households and businesses, while maintaining its headquarters in Toronto and focusing on the Canadian market in the near term.
The company has reported significant growth, with annualized payment volume exceeding $1 billion and expected to surpass $2 billion in the near future. It currently serves over 200,000 users across Canada.
About Chexy
Chexy is a fintech payments platform that enables users to pay expenses with credit cards while earning rewards. Founded in 2023. Headquartered in Toronto, Canada. The company provides tools for managing household and business payments, with a focus on improving cash flow, digitization, and financial flexibility.
