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Koho Closes Undisclosed Financial Investment from Power Financial Corp.
Thursday, April 7, 2016Company Profile | Follow Company
Vancouver, BC, April 7, 2016--(T-Net)--Koho reported today (via Twitter and the Globe and Mail newspaper) that it has received an undisclosed financial investment from Power Financial Corp.
Terms or amount of the financing have not been disclosed, nor whether or not this investment by Power Financial Corp. is part of a larger round of financing being pursued by the company.
Power Financial Corp is a major diversified management and holding company that has interests, directly or indirectly, in companies in the financial services sector in Canada, the United States, Europe and Asia. The Corporation also has substantial holdings in a diversified group based in Europe. It owns majority or outright interests in well known companies like Great West Life, Investors Group, MacKenzie Investments, and others.
Koho recently raised a $1 million financing round in May 2015. Koho's investor pool is an entirely Canadian mix of angels and funds, and includes Joe Canavan, Ferst Capital, Hedgewood, Highline and Stanley Park Ventures.
It was named one of the 20 hottest startups in Canada, is advised by Gil Penchina (early investor to LinkedIn, PayPal, Angelist, Wealthfront), and recently won the Nasdaq NY Techday award for fintech innovation.
About Koho
Koho leverages the Canadian banking system by partnering with a chartered federal financial institution who holds users funds. Koho sits on top of that framework to offers users a Koho account. It's a web app and mobile app that allows the users to complete manage their day to day account(direct paycheque load, bill pay, atm, photo cheque etc), while offering tools such as goals, cash flow projections, group spending and transfers, spending insights and categorizations and much more.
About Power Financial Corporation
Power Financial Corporation is a diversified management and holding company that has interests, directly or indirectly, in companies in the financial services sector in Canada, the United States, Europe and Asia. The Corporation also has substantial holdings in a diversified group based in Europe. Learn more at https://www.powerfinancial.com/en/
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