News Releases

News Release - Manitoba

November 16, 2021

Province Invests $1.6 Million In Neo Financial Technologies Inc. to Train New and Existing Employees

– – –
Investment will Support Manitoba's ICT Sector, Contribute to Provincial Economy, Support Local Economy through Increased Spending: Reyes

Watch news conference

The Manitoba government is investing approximately $1.6 million through the Industry Expansion program to support skills training for 332 new and existing employees at Neo Financial Technologies Inc., Economic Development and Jobs Minister Jon Reyes announced today.

“The technology and financial services sectors are two of the most in-demand industries in Manitoba and North America, in terms of workforce and customer demand,” said Reyes. “Our government’s investment will support the growth of Manitoba’s information, communication and digital technology sector, contribute to our provincial economy, and support our local economy through increased spending on goods and services.”

Manitoba’s agreement with Neo Financial Technologies Inc. will support skills training and development for 332 employees in Winnipeg including 300 new positions and 32 existing positions. As part of its expansion project, Neo has established a second headquarters in Winnipeg’s Exchange District.

The new and existing positions will be in Neo’s research and development, software development and commercialization teams.

“With the support of this grant, our team is able to further accelerate our growth and provide world class training and job opportunities in areas like engineering, product development, creative and design, cyber-security, financial services and financial technology operations,” said Andrew Chau, co-founder and CEO of Neo Financial. “Reimagining the way Canadians bank is no small feat, and the support from this partnership is an important piece in accomplishing that vision.”

The minister noted, this project will create hundreds of new jobs and support Manitoba’s post-pandemic economic and workforce recovery objectives. The project is also aligned with Manitoba’s Economic Growth Action Plan and Manitoba’s Skills, Talent and Knowledge Strategy.

Neo Financial Technologies Inc. is a Canadian fintech company creating innovation in the banking sector. It was founded in September 2019 and focuses on providing Canadians with better spending, savings and rewards experiences and access to everyday banking services.


- 30 -