Canadian fintech company Koho has raised $42m in a Series B fundraising round.

The latest round was led by Portag3 Ventures, the venture capital arm of Sagard Holdings. Greyhound Capital and other strategic investors of the company also participated in the round.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Koho funding round: Details

The fintech company plans to utilise the new funding to support its growth, and develop new products and services.

Koho founder and CEO Daniel Eberhard said: “Koho’s mission is to restore balance to Canadians by giving them control over their own finances.

“This new funding is both validation of what we’ve done and a vote of confidence for the work left to do.”

In its Series-A funding round, the company raised $8m, also from Portag3.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Headquartered in Toronto, Koho focuses on offering its Canadian customers an alternative to the traditional banking experience.

The fintech’s offerings include a reloadable Visa card and an integrated app through which it provides real-time insights on finances. It also provides instant cashback, round-ups, automated savings goals to its customers to improve their financial balance.

Currently, Koho supports more than 120,000 accounts with over $500m in annualised transactions.

Portag3 Ventures CEO Adam Felesky said: “The Canadian market is ripe for an alternative banking solution and we believe KOHO’s recent customer adoption is validation for this thesis.

“Portag3 is in a unique position to further accelerate this growth through our LPs and growing the Canadian fintech ecosystem.”