KOHO, a pioneering FinTech company, alongside Propel Holdings, known for its brand Fora Credit, have announced an exclusive partnership to augment lending access across Canada.
This collaboration aims to provide KOHO users with enhanced access to credit facilities directly within the KOHO app. The integration of Propel’s sophisticated AI lending platform as KOHO’s exclusive embedded lending partner marks a significant step towards broadening financial inclusivity.
KOHO is renowned for its comprehensive financial tools including a Mastercard service, which helps users manage spending, earn and borrow money, and build credit. Since its inception in 2014, KOHO has significantly impacted over one million users, driven by its mission to financially empower Canadians.
The partnership is designed to simplify the credit acquisition process, embedding it seamlessly within the KOHO app.
Expected to kick off in Q4 2024, the partnership is set to catalyse growth for both KOHO and Propel, particularly expanding the reach and capabilities of Propel’s Fora Credit brand in the Canadian market. Customers can anticipate a seamless lending experience that aligns with their financial needs and goals.
KOHO’s Chief Product Officer, Jack Chung, commented, “We’re proud to partner with Propel to further our mutual mission of empowering all Canadians to make financial progress. We’re excited to provide even more ways for Canadians to access credit seamlessly within KOHO when they need it most, with transparent fee structures that ensure their financial goals are met.”
Noah Buchman, President and Chief Revenue Officer at Propel, added, “It was clear from our first meeting that together, KOHO and Propel could build a transformational partnership that could positively change the financial landscape for underserved Canadians.
“With thirteen years of online lending experience, Propel has proprietary technology, deep expertise, and top talent that enables KOHO to launch a best-in-class embedded lending product that can be leveraged by KOHO for their users. Together, with KOHO, we are building financial opportunity for millions of Canadians.”
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