Blockchain
KOHO Raises $25M to Usher in a New Era of Simplified Financial Services
TORONTO, Nov. 28, 2019 (GLOBE NEWSWIRE) — Six months after announcing a Series B round, Toronto-based FinTech KOHO is pleased to close an extension with $25 million of new capital from industry-defining partners. The round was led by U.S.-based venture capital firm Drive Capital, whose portfolio boasts Duolingo, Udacity, and Root Insurance. National Bank of Canada, through its venture capital arm NAventures, also participated in the round.
The capital injection from an international and established player like Drive Capital is a testament to KOHO’s rapid growth. What’s more, it serves as a vote of confidence in the FinTech’s customer-focused product roadmap and further establishes the company as a leader in the democratization of financial services.
The announcement comes as KOHO — only two and a half years in market — welcomed its 175,000th user to its platform, launched a popular Premium offering, and continues to maintain a 4.8/5 star rating in the App Store. The FinTech disruptor currently has a 40,000-person strong waitlist for Canada’s first prepaid metal cards.
“We’re really looking forward to bringing both Drive and National Bank on board. We had more interest in the round than we chose to take, and decided to focus on partners who bring strategic value,” said Daniel Eberhard, Founder and CEO of KOHO. “Our team is world-class and the combination of Drive, National Bank, and Portag3 means we have everything we need to restore balance to Canadians. We couldn’t be more excited for the next stage of KOHO’s journey,” he added.
“When we look across the global FinTech landscape, it is clear that consumers are increasingly choosing newer, mobile-first technology startups that simplify peoples’ financial lives. KOHO is a wonderful example of this,” said Chris Olsen, Partner at Drive Capital.
“Innovation is core to National Bank’s values. That’s why we’re proud to continue to support the Canadian FinTech ecosystem through our investment in KOHO,” mentioned David Furlong, Senior Vice-President, Artificial Intelligence, Venture Capital and Blockchain at National Bank of Canada. KOHO’s Series B round was led by Portag3 Ventures and included investment from Greyhound Capital.
The additional capital will allow KOHO to continue to deliver and scale the company’s bold mission to bring transparent and intuitive financial products to Canadians.
About KOHO Julia Cooper [email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/208ff1f8-4107-4ae3-ab29-d586e3c06fae 
KOHO offers a smart spending account with no-fees. The full-service account comes with a reloadable Visa card that earns cash back on every purchase, and an integrated app that helps users spend smart and save more. Rooted in the belief that the financial system should be open and intuitive, KOHO aims to remove friction through a more human and transparent approach.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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