Welcome to our dedicated page for Mogo news (Ticker: MOGO), a resource for investors and traders seeking the latest updates and insights on Mogo stock.
Mogo Inc (MOGO) is a leading Canadian fintech innovator providing digital financial solutions focused on credit health, smart spending, and identity protection. This dedicated news hub aggregates official press releases and verified updates about the company’s strategic initiatives, financial performance, and product developments.
Investors and stakeholders will find timely information on quarterly earnings, partnership announcements, and technology innovations shaping Mogo’s position in the digital finance sector. The curated collection includes updates about its core offerings: digital lending platforms, credit score monitoring tools, and fraud prevention services.
Bookmark this page to stay informed about Mogo’s market movements, leadership updates, and regulatory filings. All content is sourced directly from company communications to ensure accuracy and compliance with financial disclosure standards.
Mogo Inc. (NASDAQ:MOGO, TSX:MOGO) plans to increase its stake in Coinsquare Ltd., Canada’s top cryptocurrency platform, by acquiring an additional 2.0% of its common shares from Michael Diamond and an affiliated company. Mogo may also buy another 3.4% within 120 days, potentially raising its ownership to approximately 53%. The acquisition is seen as strategically significant, supporting Mogo’s aim to build a comprehensive digital wallet in Canada. Coinsquare has reported strong financial growth, with record monthly revenue of $8.0 million in April 2021.
Mogo Inc. (NASDAQ:MOGO, TSX:MOGO) has announced that its payments platform, Carta Worldwide, has attained Visa Ready certification through the Visa Ready for Fintech Enablers program. This certification enables Carta to deliver digital issuance solutions to fintechs and traditional issuers across North America and Europe, enhancing their digital-first strategies. Carta's capabilities are further validated, appealing to various financial institutions seeking agile and flexible issuer processing solutions. The platform powers over 100 card programs globally.
Mogo Inc. (NASDAQ:MOGO) announces participation in the 16th Annual Needham Virtual Technology & Media Conference on May 19. Greg Feller, President, will present virtually at 12:45 PM ET and engage in one-on-one meetings. Mogo empowers over 1.5 million members with digital solutions for financial health, offering services like a prepaid card with carbon offsetting, bitcoin trading, credit score monitoring, and personal loans. Mogo's subsidiary, Carta Worldwide, provides a digital payments platform for fintech companies globally.
Mogo Inc. (NASDAQ:MOGO) has signed a binding letter of intent to acquire Fortification Capital Inc., a Canadian registered investment dealer, for $500,000 in cash, approximately $550,000 in working capital, and 75,000 Mogo Shares. This acquisition is aimed at securing the necessary regulatory capabilities for Mogo to offer commission-free stock trading, targeting a 2021 launch for its MogoTrade platform. As a wholly-owned subsidiary, Fortification will help Mogo integrate its wealth management offerings further. The transaction awaits regulatory approval from TSX and IIROC.
Mogo announced plans to increase its stake in Coinsquare, Canada's top digital asset trading platform, from 19.9% to about 37% by acquiring 5.4 million shares. The purchase, estimated between $46.9 million and $48.6 million, involves exercising a call option on 3.2 million shares and acquiring 2.2 million shares from Riot Blockchain. Following the transaction's completion, Mogo will account for Coinsquare using the equity method. Coinsquare reported April 2021 assets grew 230% YoY to $900 million, with an annual revenue run rate exceeding $95 million and a current EBITDA margin of around 50%.
Mogo Inc. (NASDAQ:MOGO) reported Q1 2021 financial results, highlighting strong growth in subscription and services revenue, which reached $6.0 million, a 32% increase from Q4 2020. Total revenue was $11.4 million, up from $10.0 million in Q4, though down from $13.9 million year-over-year. Mogo's cash and investments exceeded $120 million. The company successfully acquired Carta and Moka, enhancing its capabilities in B2B payments and wealth management. Despite a net loss of $2.8 million, Mogo anticipates significant growth in members and revenue, projecting 80% to 100% revenue growth in Q4 2021.
Mogo Inc. (NASDAQ: MOGO) has partnered with FSInsight to provide exclusive access to crypto and equity research for its members. The agreement allows Mogo to distribute FSI's research in Canada, offering valuable insights through free crypto briefings, interviews, and subscription-based research. This collaboration enhances Mogo's offerings in the growing crypto sector, which has shown strong growth potential. The partnership is seen as a significant value-add for Mogo members, aligning with the company's expansion into the $4-trillion wealth market.
Mogo Inc. (NASDAQ:MOGO) announced a partnership with FSInsight LLC to provide its members exclusive access to high-quality crypto and equity research. FSInsight, led by top analyst Tom Lee, will offer MogoMembers insights through various resources, including free briefings, interviews, and webinars. This collaboration enhances Mogo’s offerings in the growing crypto market and aims to support retail investors in Canada. The research access begins in May 2021.
Mogo has successfully completed the acquisition of Moka Financial Technologies, a prominent Canadian saving and investing app, through a share exchange agreement. This all-stock transaction increases Mogo's member base to approximately 1.6 million and enhances its wealth management offerings, including plans for a free stock trading solution in 2021. Moka's experienced team and digital technology will bolster Mogo's position in the rapidly evolving $4 trillion wealth management market. Moka's CEO, Philip Barrar, will assume the role of Chief Innovation Officer at Mogo.
Mogo Inc. (TSX:MOGO) will hold a conference call on May 13, 2021, at 3:00 p.m. ET to discuss its Q1 2021 financial results. The call will feature CEO David Feller and CFO Greg Feller, along with a live webcast presentation. Financial results will be released prior to market open on the same day. Interested parties can join the call by dialing (833) 968-2206 or (778) 560-2782 for international access. A replay will be available until midnight (ET) on May 20, 2021, using the playback code 6855516.
