Neo Financial Technologies Inc., a Calgary-based digital bank, has announced a $362 million Series D fundraising round, consisting of $112 million of equity and $250 million of debt.
The company plans on utilizing the funding towards expanding its offerings to Canadians.
This round of funding includes investments from some of the biggest names in the Canadian technology sector, including Shopify CEO and founder Tobi Lütke, Slack founder and former CEO Stewart Butterfield, Roblox CEO David Baszucki, and PointClickCare co-founder and Executive Chair Mike Wessinger. Existing investors, including Valar Ventures, Golden Ventures, Afore Capital, and Thomvest Ventures, also participated in this round.
Osler, Hoskin & Harcourt LLP acted for Neo Financial Technologies with a team that includes Chad Bayne, Jacob Yung, Patrick Musgrave, and Arkie Liu.