Neo Financial

Neo Financial

Neo Financial is a Calgary-based company founded in 2019.

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.

Company Overview

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.

Founding Team

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.

Funding

Neo has raised funds in an undisclosed round, as the company is currently privately funded.

Business Model

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.

Timeline

People

Name
Role
LinkedIn

Andrew Chau

Co-Founder

Jeff Adamson

Co-Founder

Kris Read

Co-Founder

Further reading

Title
Author
Link
Type
Date

SkipTheDishes founders target big banks with new startup, digital fintech company Neo Financial

Web

February 27, 2020

Documentaries, videos and podcasts

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Date
Link

Companies

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CEO
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Products/Services
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