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) 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.
Mogo (NASDAQ:MOGO) has announced the purchase of approximately 146 Ether (ETH) at an average price of US$2,780, aligning with its strategy to increase on-balance sheet investments in blockchain and fintech. This follows a recent sale of its Vena Solutions investment for US$4.7 million, yielding a 116% profit. Mogo has also invested in Bitcoin, acquiring 18 Bitcoins at an average price of US$33,083. The company aims to allocate up to 5% of its investment portfolio to cryptocurrencies, highlighting its commitment to blockchain technology.
Mogo announced the divestment of its investment in Vena Solutions for approximately $4.7 million, a 116% increase from its book value as of December 31, 2020. This sale strengthens Mogo's balance sheet and is part of its strategy to monetize its investment portfolio, which totaled $18.4 million at year-end 2020. Mogo aims to continue capitalizing on similar opportunities in 2021. The divestment coincides with Vena's recent $300 million Series C funding round, highlighting Mogo's successful investment strategy in private technology companies.
Mogo Inc. (NASDAQ:MOGO) will participate in the H.C. Wainwright Cryptocurrency, Blockchain & FinTech Conference on April 27, 2021. President Greg Feller is scheduled to present virtually at 12:30 PM ET and will engage in one-on-one meetings throughout the day. The company provides digital solutions for financial health, including a digital spending account, bitcoin trading, credit score monitoring, and ID fraud protection. Interested investors can register for the conference at www.hcwevents.com/crypto.
Mogo Inc (NASDAQ:MOGO) has successfully completed a strategic investment in Coinsquare, acquiring a 19.99% ownership stake for $27.4 million and the issuance of 2,807,577 common shares. This investment allows Mogo the potential to increase its stake to 43%. The partnership aims to enhance cryptocurrency trading capabilities for Mogo's clients and expand access for more Canadians. Coinsquare continues to pursue IIROC membership to become a regulated marketplace, which is critical for its growth in the evolving digital asset landscape.
Mogo has completed a strategic investment in Coinsquare, acquiring a 19.99% stake for $27.4 million and issuing 2.8 million shares. Mogo holds rights to raise its ownership to 43% through share purchases and warrants. Coinsquare reported a 700% increase in assets and a 500% rise in revenue, reaching an estimated $19 million in Q1 2021. This partnership aims to enhance Mogo's digital wallet and wealth offerings, positioning it well in Canada's evolving fintech landscape.
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