Koho nears Canadian banking license after $130M funding
Koho, a Canadian financial technology company, is close to securing a full banking license after raising $130 million CAD this year. CEO Daniel Eberhard says the move will let Koho offer Canadians better lending and savings rates, stepping up competition with the country’s major banks. The company is not pursuing prediction market features, citing social risks. Koho wants to expand its product lineup further—even considering telecom services.
- Raised $130 million CAD to support bank expansion
- Expecting Schedule 1 banking license soon
- CEO rejects adding prediction market betting
- Considering new features like telecom services
- Faces growing international fintech competition
Sources covering this
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