Canadian Neo Bank Koho Extends Series B by C$25 Million

Canadian Neo Bank Koho Extends Series B by C$25 Million
04.12.2019 04:08 am

Canadian Neo Bank Koho Extends Series B by C$25 Million

Banking

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

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.

Related News

Lanistar chooses W2 to power its new banking alternative

W2 partners with Lanistar, ahead of its polymorphic debit card launch that will revolutionise how customers manage their money. W2, the... Read more »

FSS brings AutoPay and conversational capabilities to UPI

FSS (Financial Software and Systems), a global digital payment and financial technology company, has augmented its UPI 2.0 platform with a range of new... Read more »

NatWest brings Apple Pay to business credit cards

NatWest today brings Apple Pay to its Business credit card customers, providing a safer, more secure and private way to pay that helps... Read more »

Mastercard and ANNA Money enter next phase of partnership as the ‘debit card that meows’ comes of age

Mastercard and ANNA Money today announced an extended partnership that will support ANNA’s customers with value-added services.

ANNA is... Read more »

Yolt enters beta for substantial app update in reaction to changing consumer priorities

Yolt, the award-winning smart money app, has today announced that it is heading into a beta... Read more »

BNY Mellon automates global payment inquiries, becoming the first US bank to offer SWIFT gpi Case Resolution service

BNY Mellon has recently collaborated with SWIFT to be the first U.S. bank to offer the gpi Case Resolution service to clients, and the fifth globally. This... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel