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[SITUATION] · [QUIET] · [BUSINESS]
2 clusters · 4 sources · 4 days · First seen · Last updated
KOHO introduction of Cover cash advance feature
Overview
Canadian fintech company KOHO has introduced a short-term liquidity feature called ‘Cover’ to assist eligible account holders with cash-flow gaps. Initially described as a service allowing users to access up to $250 to manage unexpected expenses, the feature is part of a paid subscription bundle and does not charge interest on the advances themselves.
Subsequent details indicate that the service functions as an interest-free cash advance available without credit checks or income verification. While the company has advertised a maximum potential limit of $500, actual amounts are determined by KOHO based on individual account activity, with approval not being guaranteed for all users.
Entities
Timeline
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[BUSINESS] 2 sourcesKOHO offers interest-free cash advances via Cover
KOHO provides Cover, an interest-free cash advance feature in its app that offers up to $500 without credit checks or income verification, subject to account activity and approval.
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[BUSINESS] 2 sourcesKOHO offers short-term cash advances via Cover feature
Canadian fintech KOHO offers Cover, a subscription-based feature providing eligible users with up to $250 in short-term cash advances to manage minor liquidity gaps.
Sources
blockchainage.com · dailyemerald.com · gigwise.com · tuppennysfireplace.com