-12%

est. 2Y upside i

FinTechSeries A

Keep offers a chequing account and credit card for Canadian SMBs. Businesses get better cashback rewards on card spend, lower domestic and international wire fees, currency conversion at a fair price, and increased credit limits for working capital needs.

Rank

#2595

Sector

Fintech

Est. Liquidity

~6Y

Data Quality

Data: Low

Keep offers a high-risk, negative expected value equity package due to a lofty $250M implied valuation (17x revenue) and fierce competition from Canadian banks and US fintechs.

Last updated: July 3, 2026

Bull (20%)+144%

If Keep achieves Canadian small business category leadership and public market sentiment remains strong for fintech, the forward revenue multiple could hold at 15x on $40.7M revenue, implying a $610.5M exit value for a 144% gain from the $250M entry valuation.

Base (40%)-35%

As growth decelerates and recessionary conditions compress multiples, Keep's forward multiple converges to the public comp average of 4x on $40.7M revenue, yielding a $162.8M exit value – a 34.9% loss from the entry mark.

Bear (40%)-67%

Intensified competition from Big Five banks and US fintechs drives multiple contraction to 2x on $40.7M revenue, a $81.4M exit. After $77M preference, common equity value collapses, resulting in a 67.4% total equity loss.

Est. time to liquidity~6.0 years

Preference Stack Risk

severe

Funding Intensity

3080%

Series A investors hold $77M in liquidation preference, representing 30.8% of the estimated $250M post-money valuation.

Dilution Risk

low

No additional funding likely within 2 years given recent $77M Series A raise.

Secondary Liquidity

none

No secondary market activity or share repurchase programs identified.

View all 2 open roles at Keep →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Keep's data — designed to show you've done your homework.

  • 1

    “How does Keep's product roadmap defend against the Big Five banks' expected digital banking features for SMBs?”

  • 2

    “What are the unit economics of the subscription model versus interchange fee revenue, and when does the company achieve profitability?”

  • 3

    “What is the expected timeline to liquidity (e.g., IPO or acquisition) and how do you value your equity with no secondary market?”

Community

Valuation Sentiment

Our model estimates -12% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.