Canadian FinTech KOHO Financial has announced an additional fundraise of CAD 86 million in a series D extension at an $800 million valuation.

Noting that it had maintained a “consistently positive valuation” since its first fund raise in 2021, KOHO said it attributes its success to the continuous growth of its product range which includes credit building, cover, the ability for users to check their credit score for free, and its five per cent savings rate.

New and existing KOHO investors provided the capital, including Drive Capital, Eldridge Industries, HOOPP, Portage, Round13, BDC, and TTV.

“We set out to raise this additional capital with one thing in mind: to accelerate building value for users,” said KOHO founder and chief executive Daniel Eberhard. “In this economic climate, every dollar counts. This injection puts us in a position to ship faster and push harder for Canadians.”

KOHO said it would enter 2024 with a dedication towards improving Canadians’ financial well-being through features including increased credit offerings, in-app bill splitting, and access to government benefits.

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