Koho
Canadian challenger bank for spending, saving, and borrowing
- Category
- Fintech & Web3
- Launched
- January 1, 2014
- Stage
- Series E
- Pricing
- freemium
- Founder
- Daniel Eberhard
- Website
- koho.ca
KOHO is a Canadian financial technology company that offers a comprehensive mobile banking app. It provides a prepaid Mastercard with up to 2% cash back on everyday spending, high interest savings accounts earning up to 3.5% interest, credit building tools, cash advances (Cover) up to $250, and Pay Later installment plans. The app also includes features like free credit score monitoring, crypto trading (with fees as low as 0.5% on the Everything plan), eSIM, travel insurance, tenant insurance, and bill splitting. KOHO operates on a subscription model with three tiers: Essential ($0/month), Extra ($12/month), and Everything ($14.75/month), each offering increasing benefits.
Positioning
KOHO's name is short, catchy, and easy to remember, which aids brand recall. The brand positions itself as a modern, all-in-one financial app for Canadians, emphasizing empowerment and simplicity. Its challenger bank status is reinforced by competitive rates and features that directly contrast with traditional banks.
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