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-0.000273897562311835 0.000205423171733585 -0.000410846343467559 0.00123253903040248 -0.00219254998630512 -0.00150643659271451 0.00095864146809084 0.00178033415502596
Stock impact report

Canadian fintech Neo Financial adds AIMCo, Northleaf Capital as investors [BNN Bloomberg (Canada)]

TENCENT HLDGS UNSP/ADR (TCEHY) 
NASDAQ:AMEX Investor Relations: tencent.com/en-us/investor.html
Company Research Source: BNN Bloomberg
The capital will be used to fund Neo's securitization program, which will allow it to grow its lending portfolio without solely relying on equity-funded lending, the firm said. Neo and other Canadian fintech firms are challenging Canada's traditional banking landscape, which is largely dominated by the big six banks, by offering lower-cost alternatives and digital services. Led by three co-founders of Canadian food delivery service SkipThe Dishes, Neo has so far raised more than C$700 million with investors including China's Tencent and Shopify's CEO Tobi Lütke. The company, however, struggled as its valuation at the end of its previous round in 2024 was at a steep discount. Jeff Adamson, one of the co-founders, said the latest round is at a higher valuation than Neo's previous round in 2024, but declined to share specific details. (Reporting by Nivedita Balu in Toronto, Editing by Nick Zieminski) Show less Read more
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