KOHO
About KOHO
KOHO provides Canadians with a financial management app and a reloadable Mastercard that offers up to 5% cash back on purchases and up to 5% interest on savings. The platform addresses the need for better spending and saving tools, enabling users to manage their finances, build credit, and access cash advances easily.
```xml <problem> Many Canadians lack effective tools for managing their finances, struggle to save, and face challenges in building credit, leading to financial instability and limited access to financial services. Traditional banking solutions often lack the flexibility and features needed to address these issues effectively. </problem> <solution> KOHO offers a financial management platform that combines a reloadable Mastercard with a mobile app to provide Canadians with tools for spending, saving, and credit building. Users earn up to 5% cash back on purchases and up to 5% interest on savings, incentivizing responsible financial behavior. The platform also offers features like cash advances and installment payment options, providing a safety net for unexpected expenses. KOHO aims to simplify financial management and improve financial well-being by offering an all-in-one solution accessible through a user-friendly app. </solution> <features> - Reloadable Mastercard offering up to 5% cash back on all purchases - High-interest savings account with up to 5% interest on the entire balance - Cash advance feature (Cover) allowing users to borrow up to $250 with minimal fees - "Pay Later" option for installment payments on larger purchases - Credit building tools designed to improve credit history without incurring debt - Bill splitting feature for easy expense sharing with friends and family - Real-time spending tracking and categorization for budget management - Ability to send and receive money instantly within the app - Tenant insurance options for comprehensive financial protection </features> <target_audience> KOHO primarily targets Canadians seeking a more effective and accessible way to manage their finances, save money, build credit, and access financial services beyond traditional banking. </target_audience> <revenue_model> KOHO generates revenue through monthly subscription fees for premium plans (Extra and Everything), interchange fees from Mastercard transactions, interest earned on cash advances, and commissions from add-on services like tenant insurance. </revenue_model> ```
What does KOHO do?
KOHO provides Canadians with a financial management app and a reloadable Mastercard that offers up to 5% cash back on purchases and up to 5% interest on savings. The platform addresses the need for better spending and saving tools, enabling users to manage their finances, build credit, and access cash advances easily.
Where is KOHO located?
KOHO is based in San Francisco, United States.
When was KOHO founded?
KOHO was founded in 2014.
How much funding has KOHO raised?
KOHO has raised 29600000.
- Location
- San Francisco, United States
- Founded
- 2014
- Funding
- 29600000
- Employees
- 420 employees
- Major Investors
- PROPELR Growth