Neo Financial
SkipTheDishes founders' second act: cashback-network banking from Calgary.
Partner-merchant cashback network.
- Who holds it
- A sponsor bank behind the brand — not the app you signed up with — Partner banks (Peoples Bank of Canada, Concentra Bank); CDIC-insured deposits.
- The ledger
- Split between a program manager and the sponsor bank — the modular setup that broke in Synapse.
- If it fails
- Any claim runs through the sponsor bank, and only works if the two ledgers reconcile.
Derived from Neo Financial’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional |
| HQ | Calgary, CA |
| Founded | 2019 |
| Custody | Custodial |
| Regulation type | Partner-bank model |
| License detail | Partner banks (Peoples Bank of Canada, Concentra Bank); CDIC-insured deposits |
| Card | MC · Credit + savings |
| Cashback | ~5% at partners |
| Yield | ~3-4% savings |
| Stablecoins | No |
| KYC | Yes |
| Active regions | North America |
| Countries | Canada |
| Founders | Andrew Chau, Jeff Adamson |
| Funding | ~C$400M raised |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @neofinancial ↗
Common questions about Neo Financial
What is Neo Financial?
Neo Financial is a fiat neobank, headquartered in Calgary, CA and founded in 2019. Your money is held custodially, so Neo Financial or its partner bank holds the balance and you hold a claim on it. It operates on a partner-bank model (Partner banks (Peoples Bank of Canada, Concentra Bank); CDIC-insured deposits).
Does Neo Financial have a card, and where can you use it?
It issues a Mastercard credit and savings card. It is available in North America.
Does Neo Financial require KYC?
Yes. Neo Financial requires identity verification (KYC) to open an account, as a partner-bank model.
What does Neo Financial cost?
From the verified fields: cashback ~5% at partners; yield ~3-4% savings. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with Neo Financial before relying on them.
Early investors
Peers
Chime · Wise · Varo · Current · SoFi · Ally Bank
Neo Financial appears in
Neobanks running on someone else’s banking license (81) · Neobanks available in North America (126) · Neobanks that issue a Mastercard (150) · Neobanks in Canada (6)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.