KOHO and LoanPro have teamed up to introduce a fresh suite of financial services for the Canadian fintech’s users, integrating LoanPro into the backbone of KOHO’s upcoming Canadian offerings.
KOHO will continue to control the customer experience in its mobile app and the design of its products, while LoanPro will provide the lending and servicing functions behind the scenes, including billing, servicing and reporting.
Partnership Details
KOHO has served more than 2.5 million Canadians since launching in 2014. Its existing products include spending and savings accounts, credit-building tools and overdraft protection.
The partnership gives KOHO access to LoanPro’s API-first platform as it develops additional products for its user base. The structure allows KOHO to build and launch products without creating all of the underlying lending and servicing technology itself.
Benefits of the Partnership
Rusen Baragiola, Chief Product Officer at KOHO, said the company wanted infrastructure that matched the pace of its product development.
“At KOHO, we’re building fundamentally different products that help Canadians make real financial progress, and that requires infrastructure that moves as fast as we do,” Baragiola explained.
The companies pointed to the particular demands of the Canadian market as part of the rationale for the partnership. Financial products in Canada must meet national and provincial requirements, including rules that vary by province, such as those in Québec.
Division of Responsibilities
LoanPro’s platform can be configured to reflect those differences, which may help fintechs adapt products for customers in different parts of the country.
For KOHO, this means the app stays at the centre of the customer relationship while the firm handles core back-end processes.
The agreement also shows how fintech companies are continuing to separate front-end product design from the systems used to administer lending and credit products. In this model, consumer-facing brands focus on app design, marketing and product features, while specialist software providers handle operational tasks such as payment processing, account servicing and reporting.
Founded in 2015, LoanPro sells software to lenders, financial institutions and fintech groups. Its platform covers the full loan lifecycle, from origination to payoff, and is used to automate workflows, process payments, underwrite applications and manage collections.
For LoanPro, the tie-up adds a Canadian fintech customer with a sizeable user base. For KOHO, it provides a platform to support the launch and servicing of additional financial products across Canada. The partnership reflects a broader trend in financial technology, where companies increasingly assemble products through collaborations rather than fully in-house development.
Rhett Roberts, Chief Executive Officer and Co-Founder of LoanPro, said the firm sees its role as supporting KOHO’s next phase of product development.
“KOHO has earned the trust of millions of Canadians by making money simpler, and we are proud to be the foundation behind what they build next,” Roberts stated.
He continued, “Our job is to give KOHO a modern, configurable platform so its team can move quickly on new products, including meeting the Canadian requirements that make this market distinct.”
The announcement comes as financial technology groups face continued pressure to broaden their product line-ups while managing regulatory and operational complexity. In Canada, that challenge can be greater because providers must account for both nationwide requirements and province-specific rules.
KOHO’s decision to use an external platform for lending and servicing infrastructure suggests it wants to speed up product launches while keeping control of the customer-facing experience.
What is clear is that the next wave of those products will be built on LoanPro’s platform, with KOHO retaining ownership of the member experience in its app and the firm responsible for billing, servicing and reporting.
