# Neo Financial Closes $185 Million Warehouse Facility Led by ATB Financial

> Neo Financial closed a $185 million syndicated warehouse facility led by ATB Financial, with an accordion to $250 million for credit card receivables.

- Published: 2026-10-22T18:15:34+00:00
- Section: Funding
- Author: News Desk
- URL: https://newsforagent.com/news/2026-10-22/neo-financial-atb-warehouse-facility
- Source: [Newswire](https://www.newswire.ca/news-releases/canadian-credit-unions-back-neo-financial-s-growth-through-185-million-atb-financial-led-facility-818883832.html)

## Key takeaways

- Neo Financial closed a $185 million syndicated warehouse facility led by ATB Financial, with an accordion to $250 million.
- The syndicate includes Vancity, Beem Credit Union, Alterna Savings and Credit Union Limited, and Innovation Federal Credit Union.
- Neo Financial has raised more than $650 million in funding since it was founded in 2019.

[Neo Financial](https://akta.pro/company-profiles/00005hx/neo-financial) closed a $185 million syndicated warehouse facility led by ATB Financial, with an accordion to $250 million, the company said on October 22, 2026. The facility funds Neo's credit card receivables, according to [Newswire](https://www.newswire.ca/news-releases/canadian-credit-unions-back-neo-financial-s-growth-through-185-million-atb-financial-led-facility-818883832.html).

## ATB Financial Leads Neo's Syndicated Warehouse

ATB Financial acted as administrative agent, lead arranger and sole bookrunner on the facility. Neo closed the $185 million facility and increased the accordion to support upsizing to $250 million, expanding committed funding capacity for its credit card receivables.

The syndicate includes Canadian credit union participants Vancouver City Savings Credit Union, known as Vancity, [Beem Credit Union](https://akta.pro/company-profiles/003y6wk/beem-credit-union), [Alterna Savings](https://akta.pro/company-profiles/000g43m/alterna-savings) and Credit Union Limited, and Innovation Federal Credit Union. ATB Financial structured and led the syndicate to deliver a scalable warehouse aligned with Neo's growth, providing capacity as Neo continues to originate and fund credit card receivables.

"Credit unions are important partners in the financial system we want to help build," said Allemander Neto, Chief Financial Officer of Neo Financial. "We've invested in a credit card platform that other institutions can participate in. Our ambition is to build lasting funding relationships with credit unions that see an opportunity to grow alongside us."

## Neo Financial's Funding Record

Neo Financial has raised more than $650 million in funding since it was founded in 2019, the company said. According to akta.pro [company records](https://akta.pro/company-data), Neo Financial has nine funding rounds on record, including a $50.2 million Series D in February 2026 with five investors, a $179.6 million debt-funded round in November 2024, a $79 million Series D in November 2024 with nine investors, and a $144.2 million Series C in May 2022 led by Valar Ventures. The same records list total funding of $544.5 million at the Series D stage, with the last round dated February 3, 2026.

## Earlier Neo Financial Funding and Product Moves

In June 2026, Neo Financial secured $68.5 million CAD in equity funding backed by more than 100 Canadian investors including AIMCo, Northleaf Capital Partners, Plaza Ventures and Sandstone Asset Management, The SaaS News reported. In June 2026, Neo Financial launched four new credit cards across its Neo World Mastercard and Neo World Elite lineups, the largest product expansion in its history, Newswire reported.

## Neo Financial's Next Steps

Neo Financial said the accordion supports upsizing the facility to $250 million. Neo Financial provides more than one million customers with credit cards, chequing accounts, savings and mortgages, and is headquartered in Calgary, Winnipeg and Toronto.

## Companies in this story

- [Neo Financial company profile](https://akta.pro/company-profiles/00005hx/neo-financial) · website: https://www.neofinancial.com
- [Beem Credit Union company profile](https://akta.pro/company-profiles/003y6wk/beem-credit-union) · website: https://beemcreditunion.ca
- [Alterna Savings company profile](https://akta.pro/company-profiles/000g43m/alterna-savings) · website: https://www.alterna.ca

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