KOHO Raises $130 Million at $1.33B Valuation to Fund Growth and Continue Pursuit of Bank License

KOHO Raises $130 Million at $1.33B Valuation to Fund Growth and Continue Pursuit of Bank License

Round brings in Mubadala, Savano Capital, Shopify founder Tobi Lütke, and Affirm COO Michael Linford alongside existing investors

KOHO, Canada's leading financial technology company, today announced it has raised $130 million CAD, representing an important step towards the continued pursuit of its federal banking licence.

The round includes new investors whose backing reflects both institutional weight and operator credibility. Mubadala, the Abu Dhabi-based sovereign investor managing over $385 billion USD in assets, and Savano Capital, a Baltimore-based investment firm that targets investments in high-growth, expansion-stage businesses, join as new institutional partners. Tobi Lütke, founder and CEO of Shopify, and Michael Linford, COO of Affirm, who are among the most respected operator-investors in North American technology and fintech, also invested in the financing round.

Existing investors Portage Ventures, Drive Capital, BDC Capital, HOOPP, and Eldridge also participated in the round.