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Montreal fintech Mylo expands to Europe, rebrands as Moka

Executive chairman Liam Cheung (left) and CEO Philip Barrar (right) pitching Moka, then known as Mylo, on Dragon’s Den in 2018. Moka | Instagram
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Montreal startup Mylo Financial Technologies is expanding to Europe thanks in part to a $10-million Series A round last November led by NAventures, the VC arm of the National Bank. The company also announced that it would change its name to Moka.

Marketed to millennials, the fintech’s app links to a user’s debit or credit card and rounds up purchases, then invests the difference in exchange-traded funds. Users can also invest lump sums. The app is free to use, but portfolio manager Tactex Asset Management charges $3 a month, regardless of the amount of assets under management.

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