A new partnership between two of Canada’s leading fintechs will bring more credit options to consumers overlooked by traditional financial institutions.
KOHO has announced a partnership with Propel Holdings that will allow qualified KOHO users to access a line of credit through Propel’s AI-powered lending platform.
Through its Canadian brand Fora Credit, Propel will act as KOHO’s exclusive embedded lending partner.
KOHO’s users will be able to access a line of credit provided by Fora as part of KOHO’s core lending products, making it a seamless experience from end to end.
KOHO will introduce and manage the line of credit through their mobile app, while Propel will power the technology, underwriting, servicing and funding of the loans.
“We’re proud to partner with Propel to further our mutual mission of empowering all Canadians to make financial progress. We’re excited to provide even more ways for Canadians to access credit seamlessly within KOHO when they need it most, with transparent fee structures that ensure their financial goals are met,” said Jack Chung, Chief Product Officer, KOHO.
Expected to launch in Q4 2024, the partnership will accelerate growth for both companies while helping more and more Canadians.
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