Canadians are increasingly financing daily expenses through instalment loans as food prices continue to strain household budgets, according to a new report.
Data from Toronto-based fintech Koho Financial Inc. released Tuesday showed that use of its buy now, pay later financing option surged 109 per cent over the past year, growing from 0.8 per cent of users in May, 2025, to 1.71 per cent in May of this year. For perspective, Koho has more than 2.5 million customers across Canada.
