Canadian challenger bank Koho closed a $70 million oversubscribed Series C funding round. The round was led by new investor TTV Capital, with renewed commitments from existing investors Drive Capital and Portag3 Ventures.
Billed as an alternative to a traditional banking experience, Koho users are furnished with a reloadbale Visa card and and a mobile app which offers real-time insights into money management, instant cashback, round-ups, and automated savings goals.
Since Koho’s Series B extension round at the beginning of 2019, the app-only bank has nearly doubled its customer base to more than 350,000 users and its team has doubled in size to over 150 employees.
Source: Finextra
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