The round, led by Greenwich, Conn.-based investment firm Eldridge, consisted of $150 million in primary capital, $10 million in secondary funding for early shareholders and employees and $50 million in debt. Round13, HOOPP and BDC also invested. The Toronto-based fintech company didn’t disclose its valuation. (The Logic)
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The round, led by Greenwich, Conn.-based investment firm Eldridge, consisted of $150 million in primary capital, $10 million in secondary funding for early shareholders and employees and $50 million in debt. Round13, HOOPP and BDC also invested. The Toronto-based fintech company didn’t disclose its valuation. (The Logic)
Talking point: The fundraising comes on the heels of Koho’s numerous product launches, including an early-payday service and high-interest spending and savings accounts. The company’s core product is a prepaid payment card that offers users cash back on purchases and additional features like an app to track spending. Since raising $70 million in its Series C round last March, Koho has surpassed 500,000 users, the company said in a press release. With the new funding, it plans to increase its headcount from 250 to 400 and expand into new product verticals.
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