Canada is about to see the launch of a new spending and savings startup created by two of the co-founders of food courier company SkipTheDishes.
The company, Neo Financial, is building relationships with thousands of local and national brands to provide a rewards-based credit card paired with a saving account offering high interest returns that will be provided by an unnamed third party Canadian banking partner.
Neo was founded in 2019 by co-founders of SkipTheDishes, a Canadian tech brand that employs more than 2300 employees and serves over four million customers. The Neo founding team brings together experience from a diverse set of companies, including Uber, Shopify, Twitter, Tangerine Bank, BMO, and BCG.
The company, which is being shepherded by venture builder Harvest, is set to launch in the coming months with Calgary as the first pilot market.
Neo co-founder and CEO, Andrew Chau says thousands of people have joined the Neo waitlist and hundreds of brands and local stores have already signed up for the launch.
“Today, with just the push of a button, we can hail a ride, have hot food delivered or stream our favourite show on demand, yet, the innovations we see in these industries and around the world have failed to translate into everyday banking,” he says. “This gap is an opportunity to reimagine how spending and savings should be, and we’re building Neo from the ground-up using today’s technology to give Canadians the most rewarding experience.”