Toronto-born KOHO Financial kicked the year off by closing a $210 million Series D funding round.
“I think our growth is evidence that Canadians are looking for something different,” Daniel Eberhard, founder of KOHO, said at the time.
To meet changing consumer demand for fast, flexible, and more convenient payments, KOHO announced this week that it has partnered with Mastercard to improve services and offer better customer experience.
“Our goal for KOHO is simple: we want to make the lives of Canadians easier by giving them better ways to spend and manage their money,” explains Eberhard.
The KOHO Mastercard is designed to provide better financial solutions to meet the everyday spending needs of Canadians, according to a statement from the companies.
“Our partnership with Mastercard will help us hugely along that journey, by providing a new and improved solution to spending that will still offer all the same benefits our customers have grown to know and love,” Eberhard stated.
The KOHO Mastercard includes “lots of features,” the company says, including no hidden fees and cash back rewards. There are also design details, like a vertical orientation adapted to a tap-to-pay world and different colour options.
“Canadians have diverse needs and expectations about their experiences with brands, especially now with our lives being more digital than ever,” said Sasha Krstic, President, Mastercard in Canada. “We’re thrilled to partner with KOHO to offer a solution that meets and exceeds the growing needs of Canadians to use their money where or how they want.”
Mastercard recently launched Changeworks, the core mission of which is to support Canadian not-for-profits by helping them improve their technology and data capabilities.