Loop vs. Venn: Which solution is best for Canadian SMB exporters?

Loop: Built for companies earning and paying across borders

Loop is designed for businesses that operate in multiple currencies or work with suppliers, distributors, or customers outside Canada. The platform combines multi-currency accounts, low-cost FX, global payments, and corporate cards into a single, export-friendly financial hub.

With Loop, exporters can:

• Real local accounts in USD, GBP, EUR, and CAD which allows users to send funds in ACH, SEPA, Faster Payment and EFT.
• Pay international vendors at competitive FX rates
• Reduce conversion costs when holding, spending, or converting foreign revenue
• Issue multi-currency corporate cards for teams spending abroad

For companies with real cross-border flows, Loop removes the friction that typically comes with banking in multiple markets.
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Venn: Domestic finance platform with multi-currency features

Venn can be a fit for smaller Canadian businesses that prioritize simple expense controls and occasionally deal with foreign revenue, with a multi-currency account structure that supports receiving and holding funds.

Venn tends to be a better fit when:

• Your business is primarily Canadian with occasional foreign revenue
• You need simple, centralized approval flows for a growing finance team

Exporters can operate through Venn, but global functionality is not its core focus in the same way as Loop.
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Key differences for exporters

Multi-currency depth

Loop: Built to send, receive, hold, and convert across major currencies with minimal friction.

Venn: Solid multi-currency support, but more focused on domestic use cases.
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FX efficiency

Loop: FX markups as low as 0.10%–0.50%, which adds up when handling USD or EUR revenue.

Venn: Higher effective markups in the free tier
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Global payments

Loop: International payments optimized for exporters working with overseas suppliers or logistics partners.

Venn: International transfers are available, but not positioned as the main value for exporting businesses.
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Corporate cards

Loop: Multi-currency cards that let teams spend in the currency they earn in.

Venn: Cards ideal for domestic spend and expense management workflows.
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So which is best for Canadian SMB exporters?

Choose Loop if:

You earn in USD or other currencies, sell into multiple countries, pay global partners, or need low FX fees and true multi-currency operations. Loop is purpose-built for the realities of cross-border commerce.

Choose Venn if:

Most of your revenue is Canadian, you want simple multi-currency support layered onto a expense management tool.

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