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Koho Financial Inc.

From EverybodyWiki Bios & Wiki
Koho Financial Inc.
Type
Private
IndustryFinancial services
Founded 📆2014 (2014) in Vancouver
Founders 👔Daniel Eberhard
Mike Benna
Jonathan Bixby
Joshua Bixby
Headquarters 🏙️,
Toronto, Ontario
Area served 🗺️
Canada
Members
Number of employees
Websitewww.koho.ca
address
telephone

Koho Financial is a Canadian money services business. Described as a "neobank", Koho's agenda is to provide a different experience than the more traditional banking experience.[1] Koho has no physical locations, and no fees.[2][3]

Customers of Koho manage their money through a mobile app, and spend money on a Koho branded Visa card.[4]

Koho has partnerships with Peoples Trust, Visa, and Galileo Processing.[5]

The firm was founded in 2014 in Vancouver.[6][7] In 2017 Koho moved its headquarters to Toronto, after again receiving investment from Portag3 Ventures.[8][9]

Notable investors in Koho include Hootsuite co-founder David Tedman, and Shopify co-founder Scott Lake.[10]

History[edit]

Koho was founded in 2014 in Vancouver by Koho CEO Daniel Eberhard, Mike Benna, Jonathan Bixby, and Joshua Bixby.[6][7]

In May 2015, Koho brought on Charles Iliya Krempeaux as CTO, and announced raising $1 million in funding.[11][12][13] Later that year, Koho's partnerships with Visa, Galileo Processing, and Peoples Trust were announced.[14][15][16]

In 2017 Koho moved its headquarters to Toronto, after receiving $8 million in investment from Power Financial's Portag3 Ventures and having Paul Desmarais III, Adam Felesky, and Wealthsimple CEO Michael Katchen join the board of directors.[8][9][17]

Business model[edit]

Koho does not charge its customers fees, but instead makes money from interchange when customers spend on their Koho Visa card.[18]

Awards and distinctions[edit]

  • Nasdaq FinTech Innovation Award (2015)[19]

External links[edit]

References[edit]

  1. https://www.straight.com/life/588486/koho-ceo-daniel-eberhard-banks-millennials-who-want-avoid-pesky-fees
  2. https://www.straight.com/life/588486/koho-ceo-daniel-eberhard-banks-millennials-who-want-avoid-pesky-fees
  3. https://techcrunch.com/2017/03/16/koho-a-mobile-only-suite-of-financial-services-for-millennials-launches-in-canada/
  4. https://techcrunch.com/2017/03/16/koho-a-mobile-only-suite-of-financial-services-for-millennials-launches-in-canada/
  5. https://techcrunch.com/2017/03/16/koho-a-mobile-only-suite-of-financial-services-for-millennials-launches-in-canada/
  6. 6.0 6.1 Mckenzie, Kevin Hinton & Ryan. "Matrix: Vancouver's money makeover".
  7. 7.0 7.1 "Koho Set to Disrupt Canada's Big Five Banks". Techvibes.
  8. 8.0 8.1 "Vancouver-based Koho hiring Toronto team, including VP of Finance and COO".
  9. 9.0 9.1 "Koho raises $8 million from Portag3 as Paul Desmarais III and Mike Katchen join board".
  10. https://techcrunch.com/2017/03/16/koho-a-mobile-only-suite-of-financial-services-for-millennials-launches-in-canada/
  11. "Vancouver Tech Podcast Ep. 24: Koho".
  12. "Charles Iliya Krempeaux: Executive Profile & Biography - Bloomberg". www.bloomberg.com.
  13. "Koho Raises $1 Million to Fix Banking for Millennials". Techvibes.
  14. "Koho Financial teams up with Visa to offer frustrated millennials a big bank alternative". 26 November 2015.
  15. "Koho secures partnerships with Visa, others, as company preps to launch millennial banking in Canada".
  16. "Koho to Offer No-Fee, Mobile Banking Services to Millennials; Reaches Agreements with Visa, Peoples Trust and Galileo".
  17. "Koho Secures $8 Million Investment from Portag3". Techvibes.
  18. "New mobile bank Koho set to join Canada's fintech crowd" – via The Globe and Mail.
  19. "Vancouver's Koho wins Nasdaq FinTech Innovation Award at NY TechDay".


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