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A reloadable card and app with real-time insights into your spending. Restore Balance

A reloadable card and app with real-time insights into your spending. Restore Balance

We're building the ultimate savings tool to help Canadians from Nunavut to Pelee Island restore financial balance. With a no-fee reloadable Visa card and integrated app, KOHO provides real-time spending insights, automated goals, and more to help people get great at saving.

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Canadian banking alternative KOHO secures $42 million

  • BetaKit

Toronto-based FinTech startup Koho announced the close of a $42 million Series B round today, led by Portag3 Ventures, with participation from Greyhound Capital and other unnamed strategic investors. Sources familiar with the deal put the company’s post-money valuation north of $100 million. Koho has raised $52.6 million to date.

Koho positions itself as a modern alternative to Canada’s traditional banking oligarchy. While it doesn’t have a Canadian banking license, it does have partnerships with Visa and Peoples Trust Company to provide similar services: e-transfers, ATM and purchase use with the Koho prepaid card, insights on spending habits, and financial coaching.

The company says it now has over 120,000 accounts and has reached $500 million in annualized transactions.

Canadian banking alternative KOHO secures $42 million

Mike Benna

Avatar for Mike Benna
General Partner at Stanley Park Ventures, Angel Investor. Mike specializes in thoughtful analysis and lean de-risking of early stage venture companies.
General Partner Stanley Park Ventures BOA for Highline.vc. Founded Ironpoint sold to Active Network (ACTV), founded Strangeloop sold to Radware (RDWR).
Entrepreneur. Product Strategist. Investor
CEO, Co-founder of Koho. Previously Co-founder, Kineticor (Acquired by Algonquinn (AQN:TSX)). 
Total raised

$51M

Funded over

4 rounds

Latest round

Series B (May 2019)