# Koho Financial

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/koho-financial

- Industry: Financial Services
- Headquarters: Vancouver, Canada
- Website: www.koho.ca/
- Total disclosed funding: $391M
- Latest round: Series E (Jun 11, 2026)
- Investors on record: 16

## About

Koho Financial Inc. was founded in 2014 in Toronto, Canada by CEO Daniel Eberhard. The company provides a financial platform aimed at improving users' financial management. In June 2026, Koho Financial Inc. raised CAD 130 million in series E funding from Mubadala Capital, Savano Capital Partners, Portage Ventures, Drive Capital, BDC Capital, Healthcare of Ontario Pension Plan, and Eldridge. The venture funding values Koho Financial Inc. at CAD 1.33 billion post-money. As of July 2026. Daniel Eberhard and David Merriby are the co-CEO of the company.
KOHO offers a comprehensive suite of financial tools designed to enhance the money management experience for Canadians. At the core of its offerings is a prepaid Mastercard, providing users with up to 2% cash back on everyday spending and up to 4% interest on savings. KOHO includes features like Rent Reporting to help build credit history and borrowing options like Cash Advances, targeting individual consumers across Canada, particularly urban dwellers and younger demographics focused on financial management.
KOHO Financial Inc. generates revenue through a direct-to-consumer fintech model that combines subscription-based memberships, financial services, and value-added products offered through its digital platform and prepaid Mastercard ecosystem. The company offers paid plans such as Extra and Everything, which provide enhanced cashback rewards, higher savings interest rates, premium support, fee reductions, and discounts on other services in exchange for recurring subscription fees. KOHO also monetizes its Credit Building service, Cover cash advance product, and Pay Later installment payment solution, which provide customers with credit improvement and short-term financing options. 
In addition, the company generates revenue from cryptocurrency trading services offered through its platform, as well as ancillary services such as travel-related products, eSIM services, insurance offerings, and other financial management tools. Its prepaid Mastercard serves as the foundation of the platform, enabling customers to spend, save, and access KOHO’s broader suite of financial products, creating multiple revenue opportunities across subscriptions, financial service fees, and partner-enabled offerings.
The company plans to use the June 2026 funding to support Koho's ambitions of becoming a federally regulated bank in Canada.

## Funding rounds

- Series E, Jun 11, 2026, $93M — BDC Capital, Healthcare of Ontario Pension Plan, Savano Capital Partners, Drive Capital, Portage Ventures, Mubadala Capital, Eldridge
- Series D, Dec 7, 2023, $63M — BDC Capital, Healthcare of Ontario Pension Plan, TTV Capital, Round13 Capital, Drive Capital, Portage Ventures, Eldridge Industries
- Series D, Feb 1, 2022, $125M — BDC Capital, Healthcare of Ontario Pension Plan, TTV Capital, Round13 Capital, Drive Capital, Portage Ventures, Eldridge Industries
- Series C, Mar 11, 2021, $50M — TTV Capital, Drive Capital, Portage Ventures
- Series B, Nov 28, 2019, $19M — National Bank of Canada, Drive Capital
- Series B, May 15, 2019, $31M — Portage Ventures, Greyhound Capital
- Series A, Sep 24, 2017, $8M — Portage Ventures
- Seed, May 28, 2015, $1M — Highline LP, Ferst Capital Partners, Hedgewood, Stanley Park Ventures

## Investors

- Highline LP — Seed
- Ferst Capital Partners (https://capitalatlas.ai/funds/ferst-capital-partners) — Seed
- Hedgewood — Seed
- Stanley Park Ventures — Seed
- Portage Ventures (https://capitalatlas.ai/funds/portage-ventures) — Series A, Series B, Series C, Series D, Series E
- Greyhound Capital (https://capitalatlas.ai/funds/greyhound-capital) — Series B
- National Bank of Canada — Series B
- Drive Capital (https://capitalatlas.ai/funds/drive-capital) — Series B, Series C, Series D, Series E
- TTV Capital (https://capitalatlas.ai/funds/ttv-capital) — Series C, Series D
- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series D, Series E
- Healthcare of Ontario Pension Plan — Series D, Series E
- Round13 Capital (https://capitalatlas.ai/funds/round13-capital) — Series D
- Eldridge Industries (https://capitalatlas.ai/funds/eldridge-industries) — Series D
- Savano Capital Partners (https://capitalatlas.ai/funds/savano-capital-partners) — Series E
- Mubadala Capital (https://capitalatlas.ai/funds/mubadala-capital) — Series E
- Eldridge (https://capitalatlas.ai/funds/eldridge) — Series E