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Canadian fintech Koho raises C$86m

Canadian fintech Koho has raised an additional C$86 million at a C$800 million valuation in a Series D round extension.

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Canadian fintech Koho raises C$86m

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Drive Capital, Eldridge Industries, HOOPP, Portage, Round13, BDC, and TTV participated in the extension.

Billed as an alternative to a traditional banking experience, Koho customers are furnished with a full-service spending and savings account that gives cash back on every purchase, and an integrated app that helps users spend smart and save more.

The firm recently passed the one million user milestone and is lining up new features for 2024, including more credit offerings, in-app bill splitting, and access to government benefits.

Daniel Eberhard, CEO, Koho, says: “We set out to raise this additional capital with one thing in mind: to accelerate building value for users.

“In this economic climate, every dollar counts. This injection puts us in a position to ship faster and push harder for Canadians.”

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