CALGARY, AB, April 21, 2026 /CNW/ - Neo Financial ("Neo") today announced its $150 million inaugural credit card securitization with BMO Capital Markets ("BMO") and SAF Group ("SAF"), entering institutional capital markets for the first time.                                        

"Institutional capital markets evaluate credit quality with complete objectivity. Getting this done at this scale tells us the data is there and is a testament to the approach we've taken. That's the foundation we need to serve a lot more Canadians," says Jeff Adamson, Co-founder and Chief Commercial Officer, Neo Financial.

BMO worked closely with Neo to structure a facility that fits Neo's needs and provides committed capital to support the continued rapid growth of Neo's credit card portfolio.

The transaction also brings together two Calgary-based companies: Neo Financial, a Canadian technology company building consumer financial products for everyday Canadians, and SAF Group, one of Canada's leading private credit firms.

"Our partnership with Neo reflects SAF's commitment to supporting Canada's most ambitious growth stories and highlights the strong demand for a Canadian-based provider of structured credit. We have been extremely impressed by the Neo team and the platform they are building to provide consumers with more accessible financing options across an expanding range of products," says Nur Khan, Managing Director, SAF Group.

About Neo Financial
Neo Financial is a technology company building a financial experience to help Canadians get what they've earned. Founded in 2019, Neo has raised more than $650 million in funding and has been recognized as Canada's top-growing company by The Globe and Mail and Deloitte, placing #1 on the Deloitte Technology Fast 50 three years in a row. Neo is headquartered in Calgary, Winnipeg, and Toronto and is backed by top-tier investors across North America.

Neo Financial provides over one million customers with safe and secure ways to earn everyday financial wins, including a suite of credit cards to help build credit, Everyday Accounts offering more freedom than a chequing account, flexible high-interest savings (Neo Savings), investing (Neo Invest), and one of Canada's lowest mortgage rates (Neo Mortgage). Neo for Partners powers financial solutions for over 10,000 partners across the country. To learn more, visit neofinancial.com.

About SAF Group
SAF Group is one of Canada's leading private credit firms focused on Canadian capital deployment. Since its founding in 2014, SAF has allocated over $5 billion across more than 70 investments, delivering tailored capital solutions to high-quality partners across multiple sectors. Headquartered in Calgary with offices in Toronto and Vancouver, SAF Group is actively expanding its investment platform to unlock opportunities in Canada's underserved credit market.

About BMO Financial Group 
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of January 31, 2026. Serving clients for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to approximately 13 million clients across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.

SOURCE Neo Financial Inc