Canadian fintech Neo Financial has hit unicorn status off the back of a C$185 million Series C funding round led by Valar Ventures.
Neo has signed up more than one million users since launching with the ambition of shaking up a Canadian market dominated by the big five banks with its app-based services.
The firm offers a high-interest savings account, provided by Concentra Bank, and a rewards-based credit card with over 7000 business partners. In the past year it has added a host of other features, including an investing product, while a mortgage offering is in the pipeline.
Says Neo: “We started Neo with the belief that Canadians deserve a better financial experience, and our team of over 650 people have been working tirelessly to reinvent the ways Canadians spend, save, and grow their money – all together, in one place.”
