Koho, a Toronto, Canada-based fintech company that provides Canadians with a mobile current account and Visa card, closed a $42m Series B funding round.
The round was led by Portag3 Ventures, with participation from Greyhound Capital and other strategic investors.
The company intends to use the funds to further accelerate its growth and build new products and services aligned with what Canadians need.
Led by Daniel Eberhard, Founder and CEO, Koho offers a mobile current account with an integrated app and reloadable Visa card, which allow users to get real-time insights into their money, along with instant cashback, round-ups, automated savings goals and more.
In less than two years, the company has grown to over 120,000 accounts, with over $500 million in annualized transactions.