Canada-based financial technology (fintech) company, Koho, has successfully raised USD 63.4 million, in its latest funding round.
Koho offers a digital banking experience designed to simplify and enhance personal finance for Canadians. The company’s platform includes a no-fee spending account, budgeting tools, and a reloadable Visa card which gives users access to real-time insights and financial recommendations.
The funding round, led by a group of investors including Drive Capital and TTV Capital, will be used to further expand Koho’s product offerings, accelerate its growth strategy, and increase market penetration in Canada’s competitive fintech landscape.
Koho aims to provide its customers with a transparent and user-friendly financial experience, catering to the growing demand for digital banking solutions in Canada. By focusing on providing a rich set of features and exceptional customer service, Koho has quickly gained popularity among Canadians seeking alternative banking options.
“We are thrilled to have secured this funding, which will enable us to fulfill our mission of simplifying banking and offering Canadians a modern financial lifestyle. As we continue to grow, we are committed to delivering innovative products and services that exceed our customers’ expectations,” said Daniel Eberhard, CEO of Koho.
Despite the economic uncertainties caused by the ongoing global pandemic, investors remain confident in the fintech sector and its potential for growth. Koho’s latest funding round demonstrates the continued interest and support for disruptive financial technology startups that aim to revolutionize traditional banking.
Koho plans to use the newly raised capital to invest in product development, expand its workforce, and explore new strategic partnerships to further enhance its offering and maintain its position as a key player in the Canadian fintech industry.
With its user-friendly platform and commitment to improving financial wellness, Koho is well-positioned to drive innovation in the Canadian banking sector and help consumers manage their money more effectively.