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If you’ve stumbled across Neobanc on Reddit, in a friend’s group chat, scrolling LinkedIn, or while paying rent, you’ve probably asked yourself: “is this thing even real?”
It’s a fair question. Neobanc came out of nowhere, promising renters something they’ve never had before—cashback on rent, bills, even mortgages. In a world where fintech startups pop up daily, skepticism is healthy. But let’s cut through the noise and look at the facts.
Neobanc isn’t hiding in the shadows. The company has already been featured on Yahoo Finance for reporting 800% growth in just 5 months—not exactly the footprint of a fly-by-night operation (link here).
Behind that growth? Millions of dollars in rent, bills, and mortgage payments processed. And perhaps most importantly for peace of mind: not a single late payment to a landlord.
The founders, Kyle Collier and Luis Parra, aren’t anonymous figures hiding behind a brand.
Kyle grew up poor in Nova Scotia, went bankrupt in his early twenties, and even had to file a consumer proposal to consolidate his debt. Today, he’s an engineer who has already built and exited multiple fintech companies.
Luis, his 22-year-old cofounder, is often described as a technical genius. He’s built LLMs for billion-dollar companies and worked with the SEC before co-founding Neobanc. While he prefers to stay off LinkedIn, you can find his work on his personal site and his thoughts on Twitter/X.
Neobanc also carries insurance to protect renters, so even in the rare event that something goes wrong, users aren’t left hanging.
Kyle’s story is part of why this company resonates so deeply with renters. He wasn’t born into money. He’s experienced bankruptcy and sacrifice—and there are even articles about him couch-surfing for over a year while building Phaze.io, a prepaid infrastructure company whose white-labeled APIs powered millions of transactions for top fintech companies (see Vice).
Phaze was a registered Money Services Business with FINTRAC for many years, giving Kyle deep expertise in compliance, payments, and regulation. Neobanc follows a similar path and is also PCI-DSS SAQ compliant to safeguard customer data and transactions.
Here’s what we know:
In short: yes, Neobanc is legit. It was exclusive during its early days—but that’s every early stage company at some point.
For renters tired of paying thousands every month and getting nothing back, Neobanc is a sign that the system can be bent in their favour. And judging by the early numbers, it’s not going anywhere.
Yes, Neobanc is legit. The company has been featured on Yahoo Finance for achieving 800% growth in 5 months, has processed millions in rent and bill payments with zero late payments to landlords, and is an Agent of Phaze Inc MSB registered under FINTRAC. Additionally, Neobanc carries insurance to protect renters and is PCI-DSS SAQ compliant to safeguard customer data.
Neobanc was founded by Kyle Collier and Luis Parra. Kyle is a multi-time fintech founder who previously built and exited companies including Phaze.io, bringing deep expertise in payments and compliance. Luis is a 22-year-old technical engineer who has built large-scale infrastructure and LLMs for billion-dollar companies and previously worked with the SEC.
Neobanc offers cashback on rent, bills, and even mortgage payments—benefits renters have never had access to before. The platform allows renters to earn rewards on their largest monthly expenses, helping them get something back from payments that typically offer no returns.
Yes, Neobanc operates as an Agent of Phaze Inc MSB, which is registered with FINTRAC (registration number C100000266). The company is also PCI-DSS SAQ compliant, ensuring customer data and transactions are properly safeguarded according to payment card industry security standards.
Yes, Neobanc has been featured on Yahoo Finance, where the company reported 800% growth in just 5 months. This media coverage highlights the platform's rapid expansion and legitimacy as a fintech company processing millions of dollars in rent, bills, and mortgage payments.
Yes, Neobanc carries insurance specifically designed to protect renters. This means that even in the rare event something goes wrong, users aren't left without protection or recourse.
Kyle Collier is an experienced fintech founder who previously built and exited Phaze.io, a prepaid infrastructure company whose white-labeled APIs powered millions of transactions for top fintech companies. Phaze was a registered Money Services Business with FINTRAC for many years, giving Kyle extensive expertise in compliance, payments, and financial regulation that he now applies to Neobanc.
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