KOHO secures USD 190 million

Following this announcement, KOHO secured USD 190 million in additional capital, USD 40 million of which is equity and USD 150 million in debt. The new capital injection is set to fund growth and development, as well as the expansion of KOHO’s lending book and new optimised products. 

The funding round is set to continue its progress towards a Schedule 1 banking licence, being led by returning investor PROPELR Growth, joined by new investor Rockefeller Capital and including existing investors Drive Capital, TTV, and BDC. In addition, KOHO will continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry. 

More insights on the USD 190 million funding round

KOHO represents a fintech company that provides its customers and clients with the possibility to earn and borrow money, build credit, and budget. PROPELR Growth Fund started to invest in KOHO in early 2022, and its funding has accelerated the company’s development strategy. The new investment is set to continue this initiative, as well as the design of a new product portfolio. 

Throughout this funding round, the financial institution will have the possibility to keep building, developing, and scaling optimised, secure, and efficient products like rent reporting, tenant insurance, Buy Now, Pay Later (BNPL), and more. KOHO will also remain public with its future product roadmap, which also includes a loaded launch schedule of new tools that are set to be released soon. 

In addition, KOHO is expected to continue its process of optimising the manner in which Canadians save money and improve their financial security, while focusing on the development of the overall financial landscape as well.