On November 28, 2019, KOHO Financial announced the closing of their $25 million Series C financing round led by Drive Capital. The funding will be used to further KOHO Financial’s growth plan to reposition the company as a venture-capital firm by restructuring its board of directors.
Drive Capital is a U.S. based Venture Capital firm with a focus on technology, healthcare, and consumer companies in the Midwest. Drive Capital specializes in building relationships with entrepreneurs to build long-term, sustainable businesses.
KOHO Financial is a financial institution with a millennial-centered alternative to traditional banking. KOHO Financial does not operate on a Canadian banking license but rather, works through partnerships, positioning itself against traditional FinTech start-ups.
Osler, Hoskin & Harcourt LLP advised Drive Capital with a team consisting of Andre Perey, Michael Grantmyre, Kosta Starostin, and M. Horatiu Porime (Emerging and High Growth Companies).