Returning investor Propelr Growth led a $40-million equity raise, which values the Toronto-based fintech at $800 million, the same as its last valuation in 2021, The Globe and Mail reported. New investor Rockefeller Capital and existing backers Drive Capital, TTV and BDC also participated in the round, which Koho plans to use to fund growth, launch new products and pursue a banking licence. Koho also secured a $150-million credit facility from unnamed investors to expand the amount it can loan to customers. (The Logic, The Globe and Mail)

Talking point: A flat valuation compared to 2021, when fintech funding was thriving only to crash the following year, adds to the evidence of green shoots in the sector. In September, Koho competitor Wealthsimple announced it is “robustly profitable,” saying it has nearly doubled its client assets to $50 billion since last year. Fintech lending in Canada has boomed over the past year as banks have made it harder to qualify for loans.