Neo Financial Technologies Inc. is a Canadian financial technology company headquartered in Calgary, Alberta. The company combines digital banking and credit card features, with a network of merchant reward offerings that are personalised to individual spending behaviour.
Neo Financial was founded in 2019 by Andrew Chau, Jeff Adamson, and Kris Read in Calgary, Alberta as a digital alternative to traditional banking. Neo Financial offers a no-annual-fee credit card and savings account that pays a high-interest on balances.
In comparison to standard cash back or points-based cards, Neo partners directly with merchants and provides customers with instant rewards that are tracked within the Neo app.
Neo is one of the first portfolio companies under Harvest, a venture builder in the Canadian Prairies, started by Chris Simair, a co-founder of SkipTheDishes.
The founding team of Neo Financial experienced success in the Canadian start-up world, founding SkipTheDishes in 2012. SkipTheDishes was sold to JustEat for $200 million in December 2016.
Neo has raised funds in an undisclosed round, as the company is currently privately funded.
In contrast with traditional Canadian banks, Neo does not have any physical locations or branches and does not charge monthly fees for the high-interest Neo Savings account. For the Neo credit card, which is a Mastercard, it does not have an annual fee. Like other digital banks, customers can access their account through a mobile app for iOS and Android.
SkipTheDishes founders target big banks with new startup, digital fintech company Neo Financial
February 27, 2020