January 20, 2021

Canadian challenger Koho appoints new CTO

Canadian neobank, Koho, has found its new chief technology officer (CTO) after Kris Hansen stepped back from the role in August 2020.

Jonathan Klein joins from e-commerce site Wayfair

Jonathan Klein joins the challenger after four years as director of engineering at US e-commerce firm Wayfair.

He has also held roles at event management company, Attend, and digital marketplace firms G2G and Etsy.

Koho, founded in 2014 and based in Toronto, claims to have amassed more than 120,000 accounts and $500 million in annualised transactions.

The neobank describes itself as an alternative banking platform. It says it’s on a mission to “restore financial balance” of all Canadians.

It offers full-service individual and joint banking accounts. These come with a prepaid Visa card, which is issued by Peoples Trust Company.

The firm has raised $57.5 million to date over six rounds. Its latest, a Series B in November 2019, netted Koho $18.8 million.

It recently signed a partnership with Islamic financing company, Manzil, to help the latter launch a prepaid Visa card.

Klein will work remotely from Vermont, joining Koho’s “remote-first” team of 60 engineers.

Related: IBM buys Canadian fintech Expertus to bolster payments offerings