Koyo, a fintech startup using open banking to offer loans to people with poor credit histories, has closed a Series A funding round of $50m in debt and equity led by Force Over Mass, with participation from existing investors Forward Partners, Frontline Ventures and Seedcamp. New investors in Koyo include Force Over Mass, Matt Robinson (founder of GoCardless, founder of Nested), and angel investors from the banking and lending sectors. It last raised $4.9 million in 2019. With many sectors of the population having racked up debts during the pandemic, Koyo is likely to benefit from this underclass of consumer, normally rejected …
