Canadian FinTech Neo Financial has raised CA$50mn in its Series A round.
In Brief:
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The round included $25mn funding and $25mn in debt facility financing.
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It was led by Valar Ventures.
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It also included Golden Ventures, Inovia Capital, Thomvest, Shopify CEO Tobi Lutke and more.
What does this mean?
Neo Financial aims to “modernise” everyday banking and rewards in Canada. Valar Ventures says that it has a particular interest in the FinTech’s technology platform – Partner Andrew McCormack feels that Canadians are currently underserved when it comes to the banking technologies on offer in other countries.
