Neo Financial has acquired new office space in Winnipeg’s Exchange District to build a second headquarters that will add over 300 technology jobs to Winnipeg over the next five years.
Neo’s newly acquired Winnipeg office space was the previous headquarters of SkipTheDishes, and where co-founders Andrew Chau and Jeff Adamson grew a team of over 2,500 employees before starting Neo Financial.
“We’re excited to once again be building roots in Winnipeg,” says Andrew Chau, Co-Founder and CEO of Neo Financial. “Reimagining the way Canadians bank is no easy feat, but it’s a challenge that our team is taking head on. With our Winnipeg expansion, we’ll be looking for more ambitious individuals to join us in our journey.”
Since Neo’s inception in 2019, the company has launched a Neo Mastercard, a no-fee and unlimited transaction high-interest savings account, and a cashback network of over 3,000 community retail partners across Canada.
Neo also launched a strategic partnership with Hudson’s Bay to bring their 2 million cardholders a new digitally integrated Hudson’s Bay Mastercard.
Supporting this growth, Neo completed a $50 million Series A financing round in 2020 that was led by Peter Thiel’s Valar Ventures with co-investors including Canadian based Golden Ventures, Inovia Ventures, and Shopify CEO Tobi Lutke.
“We are thrilled that a cutting-edge company like Neo Financial has chosen Winnipeg to be part of its next phase of growth. It speaks to the amazing talent our city can offer. The job opportunities Neo Financial will create will only strengthen our flourishing tech sector,” says Dayna Spiring, President & CEO of Economic Development Winnipeg.
With immediate growth plans, which includes new product offerings and strategic partnerships, Neo is expanding their team of 300 currently based in Calgary.