KOHO Financial

About KOHO Financial

KOHO: Complete Review, Pricing, Features and Comparison of the Canadian Neobank in 2026 In a rapidly evolving Canadian financial landscape, KOHO has established itself as one of the most popular neobanks in the country. With its Visa prepaid card, automatic cashback, and intuitive mobile app, KOHO attracts hundreds of thousands of Canadians seeking an alternative to traditional banks. This detailed article provides a comprehensive overview of this Canadian fintech: its history, plans, features, security, customer service, user reviews, as well as an in-depth comparison with its main competitors. Whether you're a student, self-employed worker, young professional, or simply curious about digital banking services in Canada, this exhaustive guide will help you determine if KOHO meets your financial needs.

Table of Contents Background and history of KOHO KOHO plans and pricing KOHO app features KOHO additional services Security at KOHO KOHO customer service KOHO customer reviews Comparison: KOHO vs Wealthsimple vs Neo Financial vs Stack Case studies: KOHO user testimonials Expansion and future outlook for KOHO

The origins of a Canadian neobank KOHO was founded in 2014 by Daniel Eberhard in Vancouver, British Columbia. The idea behind creating this neobank was simple yet ambitious: to offer Canadians a transparent and affordable alternative to the country's large traditional banks. At the time, the Canadian banking market was dominated by the "Big Five" — Royal Bank of Canada, TD Bank, Bank of Montreal, Scotiabank, and CIBC — which imposed fees often considered excessive and insufficiently transparent by a growing segment of the population. Daniel Eberhard, a technology entrepreneur by training, observed that Canadian consumers were paying an average of more than $200 per year in various banking fees: account maintenance fees, transaction fees, overdraft fees, transfer fees, and many other charges that were sometimes difficult to understand. Building on this observation, he launched KOHO with the fundamental promise of never charging hidden monthly fees and making financial management more accessible to everyone.

The early years and commercial launch After several months of development, KOHO launched its first beta version in 2016. The initial product was relatively simple: a Visa prepaid card paired with a mobile app for tracking spending in real time. Unlike traditional bank accounts, KOHO's model was based on a prepaid account, meaning users could only spend money they had previously loaded onto their account. This model inherently eliminated overdraft fees and enabled better personal finance control. The official public launch took place in 2017, accompanied by a marketing campaign primarily targeting Canadian millennials frustrated with conventional banking practices. The approach quickly paid off: within months, KOHO attracted tens of thousands of users, drawn by the simplicity of sign-up, the absence of monthly fees, and the cashback offered on every purchase.

Funding rounds and growth KOHO's rapid growth attracted the attention of Canadian and international investors. Between 2017 and 2023, the neobank completed several significant funding rounds: Series A (2017) : KOHO raised $8 million CAD, led by Drive Capital and Portag3 Ventures, to accelerate platform development and expand its technical team. Series B (2019) : A $25 million round enabled the neobank to introduce new features, including savings goals and custom spending categories. Series C (2021) : KOHO closed a $70 million funding round, bringing its valuation to over $500 million. This round was led by TCV, a leading American technology investment fund. Series D (2023) : The largest funding round in KOHO's history, with $190 million raised, enabled the company to continue its expansion and launch new products, including credit features. In total, KOHO has raised more than $300 million CAD since its inception, making it one of the best-funded fintechs in Canada. This capital has enabled the company to grow from tens of thousands of users in 2017 to more than one million active accounts in 2025.