(Bloomberg) -- The founders of Shopify Inc. and Slack Technologies Inc. joined Peter Thiel’s venture firm in a fundraising round for a financial technology company that offers credit cards, mortgages and savings accounts to Canadians.
Neo Financial Technologies Inc. is raising C$360 million ($259 million) in a series D fundraising, with Shopify Chief Executive Officer Tobi Lütke, Slack founder Stewart Butterfield, Canada’s Thomson family and Thiel-backed Valar Ventures all contributing.
The financing is comprised of C$110 million of equity and C$250 million of debt, the company said in a statement that didn’t provide a valuation.
Calgary-based Neo had revenue of C$75 million to C$100 million last year, according to The Globe and Mail newspaper.
“We need a culture of going for gold in Canada and this is precisely what the team at Neo Financial has,” Lütke said in the statement.
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