The IT Nerd

 KOHO Financial Inc., a leading Canadian fintech company, announced today it successfully raised an additional $86 million in a series D extension at an $800 million valuation. New and existing KOHO investors provided the capital, including Drive Capital, Eldridge Industries, HOOPP, Portage, Round13, BDC, and TTV.

Despite a decline in Canadian fintech investment during the first half of 2023, KOHO shines as an exceptional success story in the industry. Notably, it has sustained a consistently positive valuation since the 2021 funding round.

The company’s overarching success is attributed to the continuous growth of its innovative product range which includes Credit Building, Cover, the ability to check your credit score for free, and an industry-leading 5 percent savings rate. Complementing these products is KOHO’s subscription model, known as KOHO Plans.

Looking ahead to 2024, KOHO is dedicated to enhancing Canadians’ financial well-being through innovative features such as increased credit offerings, in-app bill splitting, access to government benefits, and a wide range of other exciting capabilities. In the app, users have the opportunity to remain informed as KOHO’s roadmap is public and open for comments.

KOHO Financial Inc, the rapidly growing Fintech company, announces today that it has closed a C$210 million Series D funding round. This investment was led by Eldridge, a holding company headquartered in Greenwich, Connecticut, with an extensive network of finance. entertainment and technology businesses. Existing investors Drive Capital and TV Capital made renewed commitments, with additional investments from HOOPP, Round13, and BDC. With this capital infusion, KOHO plans to accelerate growth, expand into new product verticals, and increase employee headcount from 250 to 400.

KOHO’s growth reflects the rising consumer demand for alternative ways to manage money. With 53% of Canadians currently living paycheque to paycheque, KOHO is meeting Canada’s need for affordable, customer-centric and intuitive financial products and services. In the last year, the Company launched Instant Pay, Earn Interest, and Credit Building.

KOHO is a Fintech company on a mission to make financial products that are transparent and intuitive. 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. KOHO is a Fintech
company, not a bank. KOHO partners with a variety of banks and federally regulated financial institutions to deliver their products.