Moka, formerly known as Mylo, is an app that helps you achieve your financial goals. With Moka, you save more, spend less and invest smarter.
One of the many ways we help is by automatically rounding up every purchase you make and investing the spare change. There’s no financial knowledge, minimum investment or lifestyle change required to use Moka, so anyone can start saving and investing towards their financial goals right away.
Roundups are a great way to save money, without changing your lifestyle. 💃🕺 For example, when you spend $3.25 on a coffee, we round up the purchase to $4.00 and invest the spare change ($0.75) for you. Every week, we tally all the roundups generated by the purchases from your cards, withdraw the total from your chequing account and invest it for you in your Moka investment account.
Every Moka user is advised by a registered Canadian portfolio manager, Tactex Asset Management, Moka's trusted partner. Tactex provides discretionary portfolio management for clients and currently manages over $215 million in client assets.
The information you provide during the sign-up process ensures your registered Canadian portfolio manager understands three main things: your financial situation, your risk profile and your financial goals. The questions we ask are called “Know-Your-Client” (KYC) questions, and they help your portfolio manager recommend an investment portfolio that reflects what you’re trying to achieve and how you want your money to be managed.