I’m very excited to share that KOHO has raised $86M and we’re proud to share a little more with you today. Naturally, in today’s market, a lot of folks have an interest in our valuation. This round prices KOHO at approximately $800M, roughly where we were in 2021. Given the broader market reset, we’re thrilled to be one of the very few fintechs who have maintained equity value over the last 24 months. I know it’s a reflection of the superb execution of the KOHO Team.
What This Means for US
We started this company because we felt there was a better option. Canadians deserve simple solutions when it comes to spending, borrowing, getting paid, and building wealth. These tools should work together to make Canadians feel that progress is possible and accessible.
The chance to build something that could make life a little easier for millions of Canadians is something to be proud of. At KOHO, we've always felt lucky to have this opportunity. We knew that if we could get this right, we could build something useful, something durable and something worthwhile. With this capital, we’ve taken a big step forward in that journey. It means we’ve earned the chance to go faster, swing bigger, and push harder.
To Our Users
Not many of you know this, but I grew up with a single mother in a small town in B.C. When I got a little older I noticed two things; My mom was the hardest-working person I knew - and - way too much of her financial future was being eroded by the wrong financial products. When I hear your stories of paying down debt, starting businesses, spending time with family, getting your first home, or going back to school, I see her story in all of you and I know we’re on the right track.
We took a bet that if we just put our users first, over and over again, the growth would come. Thank you for returning that trust in us. Over 1,000,000 of you have signed up for KOHO, making us the highest-rated Finance iOS app on the way.
I promise you we’ll keep pushing, keep building, and keep listening.
To the Team
Thank you for your trust in me and your belief in each other. Thank you for all the times you’ve stretched, poked, prompted, nudged and pushed. Whenever I have doubts about what we’re trying to do, I think of you and know we’re on the right track. Working with you all is the highlight of my professional life.
To Our Investors
Thank you for your shared belief in our mission. I know you have many competing pressures and priorities, so having the grace to trust in us and let us put the mission first is deeply appreciated. We’re honoured to welcome new investors as well as deepen and expand our partnership with Drive Capital, Portag3, HOOPP, Eldridge Capital, TTV, BDC, and Round13.
So, if you’re new to KOHO, thank you for your trust. If you’ve been around for a while, thank you for your support. Stay tuned! We’re working on some ways to bring you on the journey with us. Thank you for coming on the ride. I know this is just the beginning. Back to work!