Neo Financial is expanding operations into Canada’s finance capital, Toronto.
Calgary’s Neo, the first company to top Deloitte Technology Fast 50 three years straight, confirmed that it launched an official permanent hub in Ontario this year.
The GTA region, says Neo cofounder Jeff Adamson, “is known globally as a financial and technology center of excellence.”
“While banks are cutting staff, we’re excited to deepen our ties to the province’s top-tier innovation ecosystem,” Adamson, who serves Neo as chief commercial officer, remarked.
The move follows several years of high growth for the Alberta fintech, which recently claimed top spot in the Enterprise—Industry Leader category with a three-year revenue growth rate of 1,279%.
Neo Financial’s Toronto hub will give the company access to the city’s renowned talent pool, Adamson said, as well as deeper strategic partnerships to accelerate innovation in growth areas like access to credit, AI, and payments technology.
“We want the absolute best, mission-oriented talent to help us in delivering financial victory to Canadians,” he stated, “and this expansion is one of many steps towards achieving this.”
Chief executive officer and fellow cofounder Andrew Chau agrees, commenting that “by expanding our presence in Toronto, we’re well-positioned to tap into a deeper pool of talent that can help us deliver on getting Canadians more of what they’ve earned, at a time when they’re are asking for more value from their money and loyalty.”
In the few months since Neo initially opened an office in Toronto, Chau noted how the Toronto team has tripled in size and is eying bigger spaces.
Last year, Neo Financial secured a $360 million Series D fundraising round.
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