If reading your credit card statement makes you as anxious as watching Uncut Gems, you’re not alone. The average Canadian millennial now spends a staggering 2.4 hours a day worrying about money.
Enter KOHO, a Toronto-based fintech company that’s seeking to take the stress out of saving and bring balance to your financial life. They describe themselves as “an everyday chequing account, paired with a reloadable prepaid Visa card”—along with a personal financial planner that’s available in your pocket 24/7. They’ve got some impressive data to back up their claims: within 3 weeks, the average KOHO user saves 7% of the money they load into their account (through RoundUps and Savings Goals), vs. 2% the average millennial stashes away at traditional banks