Koho, a Toronto, Canada-based fintech company, raised additional CAD$86M in funding, at $800M valuation.
Backers included Drive Capital, Eldridge Industries, HOOPP, Portage, Round13, BDC, and TTV.
The company intends to use the funds to expand operations and its business reach.
Led by Daniel Eberhard, CEO and Founder, Koho offers a full-service spending and savings account with no hidden fees that gives cash back on every purchase, and an integrated app that helps users spend smart and save more. Its product range includes Credit Building, Cover, the ability to check the credit score for free. Complementing these products is a subscription model, known as Koho Plans. Looking ahead to 2024, the company is dedicated to launching features such as increased credit offerings, in-app bill splitting, access to government benefits, and a wide range of other capabilities. In the app, users have the opportunity to remain informed as Koho’s roadmap is public and open for comments.
The company partners with a variety of banks and federally regulated financial institutions to deliver its products.
FinSMEs
07/12/2023