Canadian challenger bank KOHO has secured $190 million in new funding, comprising $40 million in equity and $150 million in debt. The round was led by PROPELR Growth, with participation from Rockefeller Capital and existing investors. The capital will support KOHO’s growth, expand its lending services, fund new products, and aid progress toward obtaining a Schedule 1 bank license.
CEO Daniel Eberhard expressed excitement over the opportunities for expansion, including rent reporting and buy-now-pay-later products. PROPELR’s Managing Partner Sanjiv Samant praised KOHO’s innovation and will join its Board of Directors.
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