Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
KOHO Secures $190M to Move Towards Banking Power
Fintech Capital | Oct 2, 2024
Image: Freepik
KOHO Banks on $190M Boost to Accelerate Towards a Banking License
We're getting closer to the day when a Fintech has grown so large in Canada that it can earn a coveted banking license. To that end, KOHO just announced that it's secured $190 million in fresh capital to grow it's lending business, offer a broader suite of financial products, and progress efforts towards becoming a Schedule 1 bank.
- Leading the $40 million equity portion is PROPELR Growth, with in new investor Rockefeller Capital and returning partners Drive Capital, TTV, and BDC.
- The $150 million debt financing is from new and existing partners and will primarily be used to grow KOHO's credit offerings.
- With this latest round of financing, KOHO will expand its range of financial solutions to empower consumers with their money, consisting of buy-now-pay-later plans, renter insurance, and rent reporting and new services that will be introduced.an emphasis on flexibility and customer empowerment by consistently introducing new services.
- PROPELR Growth originally invested in KOHO in 2022, so for them to lead the equity portion of this latest round highlights their confidence in KOHO's ability to execute their expansion strategy towards a schedule 1 banking license. Sanjiv Samant, Managing Partner of PROPELR Growth, will join KOHO's Board of Directors.
See: KOHO Gives Renters a Boost with Cash Back and Credit Help
Daniel Eberhard, CEO KOHO:
“We’re more excited than ever at KOHO. We had the choice of profitability with our existing capital but this injection allows us to grow faster and expand our lending business, both of which support our bank license application. This is going to let us keep building and scaling wonderful products like rent reporting, tenant insurance, buy-now pay later and more. We remain incredibly humbled by the trust of our team, our investors and most importantly, our users. Onwards.”
Outlook
Since its founding in 2014, KOHO has helped over a million Canadians by offering solutions for money management, credit development, and budgeting. The firm is clearly committed to changing the banking landscape in Canada. Its goal is to provide fully insured and regulated services in direct competition with established banks. With confident backing from investors and $190 million in new funding, Canadian fintech KOHO is ratcheting up its financial services on route to becoming a Schedule 1 bank.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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