Who We Are
Hi, I am Cato, CEO and Founder of Loop.
Having built businesses that operate across multiple countries, I’ve experienced the frustration of outdated banking systems. Banks were originally created for the sole purpose of helping entrepreneurs grow their businesses. The unfortunate reality today is that banks are better known for excessive fees, and unnecessary complexity that slows growth instead of fuelling it.
This is why we are building Loop - our objective is to help you manage your business finances across the world, saving you time and money in the process.
Our “why” is simple: We believe every entrepreneur deserves access to fair, modern financial tools that help them compete on a global stage. We want business owners to feel confident expanding into new markets without being held back by hidden fees or wrestling with banking systems that weren’t built for their ambitions.
Whether you’re a new customer, a long time partner, or just browsing to see what Loop is all about, thank you for taking the time to learn more about why we do what we do and why we are so passionate about serving Canadian businesses.
I always welcome feedback and suggestions, so don’t hesitate to reach out to me at cato.pastoll@bankonloop.com.
Sincerely
Cato Pastoll,
CEO and Founder of Loop Financial
Who We Serve
Loop is built for businesses that earn, pay, and grow across borders. Some examples of customers that have gotten value from Loop are:
Retailers and Brands
Retailers and brands will often sell across multiple channels, including physical stores, online platforms, and third-party retailers - centralizing how they manage their finances is where Loop comes in. If you’re a business in this space, you likely need accounts in multiple countries so you can accept international payments without conversion, and seamless tools to pay suppliers abroad such as multi-currency credit cards or free global payments with market-leading fx rates.
Wholesalers
Wholesalers often purchase directly from overseas providers and distribute those products to local retailers - doing business across borders is in their DNA. For wholesalers, margins are critical, so every opportunity to reduce unnecessary bank fees is a big win. Additionally, the ability to naturally hedge (settle purchases or receivables in the same currency) can further drive improved margins for businesses that constantly move across borders.
Manufacturers
Domestic manufacturers import raw materials, physical equipment and more from global suppliers. Loop makes managing those purchases fast and seamless while also reducing cost. Market leading FX rates make our manufacturing clients confident that they are getting the best rate every time they make a purchase. Additionally, many manufacturers appreciate using our global treasury accounts to manage and hold funds in other currencies.
Agencies and Services Providers
From logistics and advertising to travel and digital services, modern businesses operate across borders. They work with customers, contractors, and suppliers around the world — and need a smarter way to move money. Loop’s global solution lets service businesses get paid in local currencies, pay vendors abroad, access market-leading FX rates, and manage spending with powerful built-in card controls.
The Problems We Solve
For global businesses, every step of the financial journey is filled with inefficiencies:
1. Revenue is earned in different countries and currencies
Many businesses earn revenue from customers around the world — say a Canadian software company charging clients in USD, EUR, and GBP. Managing these inflows means opening multiple foreign accounts or constantly converting funds back to CAD, which eats up margins.
Loop solution: Loop provides multi-currency accounts, so companies can hold and use foreign revenues in their original currencies without forced conversions.
Example: A Toronto-based SaaS firm billing $50,000 USD a month to American clients can keep those funds in USD and use them to pay U.S. expenses, rather than converting back and forth between CAD and USD.
2. Treasury is transferred across borders unnecessarily
Companies often move money between entities or accounts in different countries just to fund operations — for example, moving USD revenue from the U.S. to Canada, then back to the U.S. to pay suppliers.
Loop solution: Loop’s unified treasury platform lets companies manage global cash across currencies and geographies without needless cross-border transfers.
Example: A UK-based exporter selling to Canada and the U.S. can receive payments into Loop’s multi-currency account and pay both Canadian and U.S. suppliers directly, avoiding repeated cross-border transactions.
3. Foreign exchange with banks is expensive
Traditional banks often charge hidden markups of 2–3% on FX rates — a stealth tax on global business.
Loop solution: Loop gives access to market-leading FX rates, often saving businesses thousands in conversion fees.
Example: A Canadian importer converting €200,000 at a bank might pay around $6,000 in hidden spreads. With Loop, they’d pay closer to $200.
4. Managing international card spend is cumbersome
When teams spend across currencies — on software, travel, or contractors — they face scattered statements, poor visibility, and high FX fees.
Loop solution: Loop’s global cards allow card spend in different currencies, while tracking spending centrally, and avoid double conversions.
Example: A startup with a marketing team in London, developers in Toronto and sales reps in the US can issue cards on one platform to GBP, CAD and USD, view all spend in one dashboard, and avoid any FX on their purchases.
5. Sending payments to suppliers globally is slow and expensive
International wire transfers through banks can take days, cost $30–$80 each, and offer little transparency.
Loop solution: Loop enables fast, low-cost international payments through local rails in over 30 countries.
Example: A Canadian retailer paying a manufacturer in China can send CNY directly from their Loop account, often arriving same-day at a fraction of the cost of a bank wire.
The impact of solving these problems can be enormous: businesses lose an average of $40,000 per year on just hidden bank fees, while finance teams spend 8+ hours every week managing manual, cross-border transactions.
What Loop Offers
Loop is the all-in-one platform designed to eliminate these inefficiencies and help businesses thrive globally.
Global Treasury Management with Multi-Currency Accounts
Businesses can manage their local bank accounts in CAD, USD, GBP, and EUR through Loop’s platform. By managing treasury for each local market through Loop, you can manage the payments you receive in each local country, view and manage your balances, and pay your vendors around the world seamlessly and eliminating unwanted FX conversions. Many providers provide only “virtual” accounts or “wallets”, while Loop gives businesses a true local banking experience, empowering your businesses to operate internationally with the same capabilities you would expect as a local business working with a domestic bank.
One of our early customers landed a major U.S. client, but the client’s treasury team refused to send payments to a Canadian account. Without a local U.S. account, the deal was stuck. With Loop, they were able to open a USD account instantly and receive funds like a local business — unlocking the contract and doubling their revenue overnight.
Loop Cards
Loop Cards give you the ability to:
Settle in CAD, USD, GBP, and EUR - eliminating FX fees on all cross-border spend
Choice of multi-currency (spend from balances in order) or single-currency (convert everything to one)
Earn points on spend which can be used for great benefits like travel rewards and gifts
Custom spend settings (block merchants, restrict currencies)
Set spend limits (monthly, annual, or lifetime)
Create unlimited virtual and physical cards
Set up Apple Pay and Google Pay for contactless payments
Leverage AI to automatically capture receipts and tag them to transactions
Additionally, Loop is one of the only providers to offer real business Credit Cards - we launched Canada’s first no-FX corporate credit card, designed for SMEs that manage cross-border purchasing. With up to $1M credit limits, repayment in multiple currencies, and up to 55 days of interest-free spending this is a one-of-its-kind solution for businesses.
We often hear the same thing from customers who switch to the Loop Card: disbelief at how much they were losing to hidden FX markups. One customer even copied us on a furious note to their bank — after being promised their “no FX fee” card had no markups, they found out it quietly charged 2.5% on every foreign purchase. Loop was the first time they experienced what “no FX” really means.
Market-Leading FX
Convert currencies when you choose, at 0.1%–0.5% markups (vs banks at 3–4%). Loop’s FX is even more competitive than many online providers like Wise or OFX. This ensures you keep more of your international revenue and pay less on every cross-border transfer.
What businesses love most about using Loop’s FX products is the simplicity. They no longer have to haggle with a banker or broker every time they make a trade — they just know they’re getting a fair, competitive rate every time. It’s one less thing to worry about.
Payments and Transfers
Loop’s international payments feature makes sending money around the world fast, affordable, and frustration-free. Customers can send payments to over 180 countries in 25+ currencies — often using local payment rails instead of the slow and expensive SWIFT network. This means suppliers get paid faster, without intermediary bank fees or delays. And because Loop lets businesses pay in their supplier’s local currency, they also unlock discounted rates and build stronger relationships by removing friction from cross-border transactions.
One of our customers, a Canadian accessory importer, used to have to go into a bank branch and pay $50 per transfer to send money to suppliers overseas. When they switched to Loop, they started paying those same suppliers in their local currency, often with funds arriving the same day. Not only did it cut their payment costs by more than half, but a key supplier offered them a 3% discount for paying locally — savings that added up to thousands of dollars a month.
Why Businesses Choose Loop
Businesses pick Loop because it solves the problems that matter most to businesses growing globally:
Save money: Cut hidden FX markups, inflated bank fees, and wasteful cross-border costs — keep more of what you earn.
Save time: Automate payments and reconciliation so your team spends hours less on manual finance work every week.
Scale globally: Grow into new markets effortlessly with true global treasury management capabilities including real local account connectivity, true no-FX cards, and flexible limits built for international business.
Gain control: Get real-time visibility, built-in spend controls, and seamless accounting integrations that keep your finances running smoothly.
Our Mission
At Loop, we believe the future of business is global by default. Entrepreneurs shouldn’t have to squeeze their international ambitions into outdated, domestically focused banking systems.
We’re building the financial infrastructure to support that future: accounts, cards, credit, FX, and payments that work together to give businesses the freedom to grow across borders without friction, compromise, or surprise fees.
Our mission is simple: empower businesses with fairness, transparency, and tools built for the realities of global trade. No one should lose opportunities—or revenue—because their bank wasn’t built for the world they operate in.
Loop is here to help you trade, grow, and win on the global stage.