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Vancouver FinTech Company Koho Launches to Public in Canada After Months of Private Beta Testing
Friday, March 17, 2017Company Profile | Follow Company
Koho, with Visa*, and Peoples Trust Company, offers a modern account for Canadian consumers
Vancouver, BC, March 17, 2017--(T-Net)-Koho, a Vancouver-based financial technology startup bringing modern-day financial services to the mobile generation, announced today that they have now launched to the public after months of private beta testing.
Koho is a mobile hub that allows users to manage their money via a smart spending account™, a mobile app and a reloadable prepaid Koho Visa card, with no fees.
“We've seen a lot of this in the news lately,” says CEO Daniel Eberhard, “Canadians are paying some of the highest bank fees in the world while being sold products they don't need or understand. We don't think that's right.”
With Koho, users can access all the core functionality; making purchases everywhere Visa is accepted, directly depositing their paycheque, accessing more than 8,000 fee free ATMs, paying bills, sending e-Transfers and more, all without fees.
Koho also provides a suite of modern capabilities like real-time updates, automatic savings goals, instant Koho transfers, purchase behaviour insights, chat support, low balance notifications, and much more.
Daniel Eberhard, CEO of Koho
“The response during the private beta was amazing. More than 10,000 Canadians signed up, we transacted over $1,300,000 dollars. In virtually every metric, Koho is used in a fundamentally different way than traditional offerings. We're growing really quickly.” says Daniel Eberhard.
Koho works with Peoples Trust Company and Visa* to offer their service. Peoples Trust acts as the regulated financial institution which holds the user's funds while Visa offers world-wide acceptance and purchase protection.
What can I do with Koho?
Instant Notifications and Feed
Koho will send you a mobile notification the second we see that cash hit your account. Koho lets you know when money is deposited into your account, when your balance is running low, or when a purchase is made (great for knowing when and how much autopayments like Car2Go actually charge you).
Insights
As soon as you make a purchase, our algorithms are working hard to automatically categorize your spending and provide easy-to-understand visualizations on where your money is going.
Goals
Whether your goals are big or small, use Koho to set it, forget it, and get on with your day! Koho intelligently puts money aside for that new bike, long weekend away, or an emergency fund.
Move Money
Koho users can send instant P2P (person-to-person) payments to any other Koho user free of fees, forever! Paying your friends back or splitting the bill is simpler and faster than ever with Koho Payments.
Koho Payments also includes rich integrations with existing financial institutions for your other money moving needs:
The Koho app is available for free download from the App Store on iPhone and Apple Watch, or at AppStore.com. For more information, visit https://blog.koho.ca/koho-for-iphone.
Koho Team Photo: (Credit: Koho)
About Koho
Koho is a new company that's bringing modern-day financial services to the mobile generation. We provide everyday consumers novel ways of accessing rich insights into their spending habits, while providing core financial services, free of fees.
Based in Vancouver (British Columbia), Koho is a venture backed startup which has raised $2.6M from the founders of Hootsuite & Shopify, billion dollar fund managers & Portag3 Ventures, the investment arm of Power Financial Corporation (TSX: PWF).
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