Canadian neo bank Koho extends Series B by C$25 million

Drive Capital and National Bank of Canada have invested C$25 million in Canadian neo banking startup Koho.

  0 Be the first to comment

Canadian neo bank Koho extends Series B by C$25 million

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

The new funding is an extension of the startup's earlier $42 million fundraising round led by Portag3 Ventures.

Billed as an alternative to a traditional banking experience, Koho users are furnished with a reloadbale Visa card and and a mobile app which offers real-time insights into money management, instant cashback, round-ups, and automated savings goals.

Operating for two years, the firm lays claim to over $500 million in annualised transactions from its 175.000 user base and a Koho card use every 4 seconds. The company currently has a 40,000-person strong waitlist for Canada’s first prepaid metal cards.

Sponsored [Webinar] AI in Banking: Building Compliant and Safe Enterprise AI at Scale

Comments: (0)

[On-Demand Webinar] Winning Payment Strategies for High-Opportunity IndustriesFinextra Promoted[On-Demand Webinar] Winning Payment Strategies for High-Opportunity Industries