About

KOHO provides a modern banking alternative through its prepaid Visa cards and mobile app, aimed at individuals seeking better financial management without the fees of traditional banks. Users can earn cash back on purchases, build credit, and access their payroll early. The app and card are free to use, with KOHO generating revenue from interchange fees and optional premium services. Unlike traditional banks, KOHO focuses on transparency and convenience, catering to tech-savvy consumers who want more control over their finances.

Simplify's Take

What believers are saying

• KOHO secured $190 million CAD to expand lending and product offerings.
• The company surpassed one million users, maintaining a positive valuation.
• KOHO advanced into phase two of securing a Canadian banking license.

What critics are saying

• Increased competition from fintech companies like Wealthsimple could impact KOHO's market share.
• Potential delay in KOHO's banking license application could hinder product expansion.
• Reliance on interchange fees may be threatened by regulatory changes impacting profitability.

What makes KOHO unique

• KOHO offers a modern alternative to traditional banking with prepaid Visa cards.
• The company provides early payroll access and credit building services.
• KOHO's mobile app offers cash back and financial management tools.

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