Neo Financial, a Calgary, Winnipeg, and Toronto, Canada-based financial technology company, raised CAD $360m in Series D funding.
The round included:
- CAD $110M of equity; and
- CAD $250M of debt.
Backers included Tobi Lütke (CEO and founder of Shopify), Stewart Butterfield (founder and former CEO of Slack), David Baszucki (investor and CEO of Roblox), and Mike Wessinger (co-founder and Executive Chair of PointClickCare) and existing investors include Valar Ventures, Golden Ventures, Afore Capital, and Thomvest Ventures.
The company intends to use the funds to accelerate the expansion of its suite of innovative financial services products.
Led by Andrew Chau, co-founder and CEO, Neo Financial is a technology company building a financial experience through spending, savings, investing, and mortgages. Through partnerships with leading financial institutions, the firm provides customers with secure ways to spend (via a suite of credit and prepaid cards), everyday banking products (Neo Money™), investment solutions (Neo Invest™), and low-rate mortgages (Neo Mortgage). Neo for Business powers financial solutions for Tim Hortons, Cathay Pacific, Hudson’s Bay, and over 10,000 other partners across the country.
FinSMEs
12/11/2024