Investors include TTV Capital, Drive Capital and Portag3 Ventures, with sources telling BetaKit the financing brings the mobile banking provider’s valuation to $300 million. (BetaKit)
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Investors include TTV Capital, Drive Capital and Portag3 Ventures, with sources telling BetaKit the financing brings the mobile banking provider’s valuation to $300 million. (BetaKit)
Talking point: The funding round means Power Corporation will give up its controlling stake in Koho. As of September, the financial-services giant held a 54.4 per cent interest in Koho through a limited partnership with subsidiaries Portag3, Great-West Lifeco and IGM Financial. Power also has a controlling interest in Wealthsimple, another fintech company, which launched consumer-payment app Wealthsimple Cash across Canada yesterday. Many of Wealthsimple Cash’s features look similar to those provided by Koho. Times have been good for fintech firms, with deals on the rise as businesses accelerate digitization to serve customers and workers staying at home.
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