September 15, 2021

Neo Financial Secures $64 Million CAD Led by Peter Thiel-Backed Valar Ventures

Having secured new equity capital from a notable group of investors, Neo Financial is furthering its push to become a full-stack digital bank to compete with Canada’s financial giants.

The three-year-old startup closed a $64 million CAD Series B round this summer led by Peter Thiel-backed Valar Ventures, which also led Neo’s Series A financing. The latest raise brings Neo’s total funding to date to $114 million.

The Series B capital attracted a mix of new and return investors, with Greenoaks Capital, Altos Ventures, and Breyer Capital joining the fray. Greenoaks Capital’s portfolio includes FinTech companies Robinhood and Stripe, while Altos Ventures’s investments include South Korean challenger bank and unicorn Toss.

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