Canadian challenger bank Neo Financial raised a financing round earlier this year valuing the Calgary-born fintech at over $1 billion.
The Series C round led by Peter Thiel’s Valar Ventures made Neo one of the fastest Canadian companies to reach the coveted ‘unicorn’ status.
Neo Financial offers a variety of products to its customers, including cash-back rewards and savings. It expanded into investing in April with a private wealth management product, and plans a mortgage offering for later this year as part of its effort to be a “one-stop shop for all financial services for Canadians and retailers.”
Today Neo was included on LinkedIn’s 5th annual Top Startups list that features 15 Canadian companies that are rising to the challenges of the moment and continuing to innovate and gain attention in 2022.
“We started Neo to take on a massive challenge – to reimagine financial services for all Canadians. In an industry where the incumbents make up 90%+ of the market, we’ve been able to rapidly earn the trust of over one million Canadians and 7,000+ retailers across the country,” wrote co-founder Andrew Chau earlier this year.
Neo currently employs 750+ and according to Chau they are “looking for the best people to join us on our mission”.