Calgary-founded fintech Neo Financial has raised $68.5 million in an oversubscribed round led by more than 100 Canadian investors, at a valuation above its $362-million Series D in 2024. Backers include Alberta Investment Management Corporation, Northleaf Capital Partners, Plaza Ventures, and Sandstone Asset Management.
Neo will use the capital to launch Canada’s first fintech-led securitization program, enabling bank-style, capital-efficient credit growth. Chief executive Andrew Chau said the move aligns Neo with Tier 1 banking practices while scaling lending nationally. The raise underscores growing domestic confidence in Alberta-built financial technology and signals a maturation of Canada’s fintech ecosystem.
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