Koho closed $8 million in financing from Portag3 Ventures.
Koho offers the Koho Visa prepaid card and mobile app that together allow users to manage their daily financial needs, such as direct paycheck load, bill pay, and ATM cash withdrawals. The company also provides tools including automated savings goals, real-time updates, transfers, spending insights and more. According to the company, more than 9,500 Canadians have signed up to join Koho.
The company revealed that the new funds will enable Koho to scale its technology platform and expand its engineering and operations teams at its new Toronto headquarters.