Tech & Gadgets

Neo Financial secures $185 million credit facility from credit unions

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Neo Financial has secured a $185 million credit facility from ATB Financial and several Canadian credit unions. This arrangement, known as a warehouse facility, allows Neo to expand its credit card program funding capacity without relinquishing equity, which is significant as the company continues to grow its presence in the Canadian FinTech landscape. The deal also signals a broader strategy for Neo to involve other financial institutions in its growth, potentially opening the door for further partnerships.

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