Neo Financial raises $145 million

Canadian digital bank Neo Financial has secured $145.2 million in Series C financing. Valar Ventures led the round with participation from Tribe Capital, Altos Ventures, Blank Ventures, Gaingels, Maple VC, and Knollwood Advisory.

Founded in 2019, Neo Financial offers a variety of products including cash-back rewards and savings. Last month it expanded into investing with a private wealth management product, and it plans to introduce a mortgage product later this year. The startup will also launch customized perks – “from travel to insurance” in the future.

Neo Financial recently crossed the 1 million customer mark.