On December 16, 2020, Neo Financial announced it has raised $50 million in total financing. The funding is comprised of a $25 million Series A round led by Valar Ventures and another $25 million debt facility from ATB Financial. The funding will be used to expand the company’s current offerings across Canada and to develop products in other financial service offerings like mortgages and investing. This funding round marks one of the largest Series A rounds in Western Canada.
Neo Financial is a Calgary based technology firm specializing in building a better financial experience for Canadians by using technology to simplify finances.
Valar Ventures is a New York based venture firm focused on investment in fintech companies.
Osler, Hoskin & Harcourt LLP advised Neo Financial with a team consisting of Chad Bayne, David Jamieson, Kosta Starostin and Shalu Atwal (Emerging and High Growth Companies).