Neo Financial
Neo Financial builds consumer banking products in partnership with regulated institutions, and runs co-branded credit and loyalty programmes for Canadian retailers.
About Neo Financial
Neo Financial builds consumer banking products - cards, savings, mortgages - in partnership with regulated financial institutions rather than by becoming a bank itself. That structure is the interesting decision: it means the company competes on the product and the experience while somebody else carries the regulatory weight, which is what makes moving quickly possible in a market as concentrated as Canadian retail banking. Alongside the consumer side it runs co-branded credit and loyalty programmes for Canadian retailers, which puts its cards in front of customers at the point they are already buying something. The company was founded in 2019 in Calgary by Andrew Chau, Jeff Adamson and Kris Read. Chau and Adamson had previously co-founded SkipTheDishes. Its Series C, led by Valar Ventures, raised 185 million at a valuation above a billion, and was covered as Calgary's first technology unicorn.