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Neo Financial Secures $258M in Series D to Drive Growth in Canadian Fintech Market

November 14, 2024

Neo Financial, a Canadian fintech headquartered in Calgary and Toronto, has raised CAD 360 million ($258.3 million) in a Series D funding round, including CAD 110 million ($78.9 million) in equity and CAD 250 million ($179.3 million) in debt.
The funding attracted notable investors, such as Shopify CEO Tobi Lütke, Slack founder Stewart Butterfield, Roblox CEO David Baszucki, and PointClickCare’s Mike Wessinger, along with existing investors Valar Ventures, Golden Ventures, and others.
CEO Andrew Chau noted the funding is one of the largest fintech rounds globally in 2024, highlighting Canadian demand for alternative banking options.
Founded in 2019, Neo Financial offers a wide array of digital financial services, from credit cards and mortgages to savings and AI-powered budgeting.
The new funding will accelerate product development and market expansion, reinforcing Neo’s position as a leader in Canada’s digital banking landscape.