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) has entered a binding letter of intent to acquire Moka Financial Technologies Inc. in an all-stock transaction valued at 5,000,000 Mogo shares and the assumption of $3 million in net debt. This acquisition is projected to boost Mogo’s member base by over 40%, reaching more than 1.7 million members. Moka, a popular Canadian app with over 500,000 active users, specializes in automatic savings and investments. The deal aims to enhance Mogo’s offerings, including launching a free stock trading solution, and is expected to close by Q2 2021, pending regulatory approval.
Mogo Inc. (NASDAQ:MOGO) reported its financial results for Q4 and FY 2020, showing transformative growth driven by strategic acquisitions and an expanding digital wallet series. Q4 subscription and services revenue increased by 8.4% to $4.6 million, with total revenue reaching $10.0 million. Gross profit margin soared to 80.2%. The company improved its net loss to $2.8 million for Q4, against $6.2 million in the prior year. Mogo raised $82 million in new capital, enhancing its balance sheet for future growth. Looking ahead, Mogo expects 80% to 100% growth in subscription revenue for Q4 2021.
Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) is set to announce its Q4 2020 financial results during a conference call on March 23, 2021, at 5:00 p.m. EDT. Hosted by CEO David Feller and CFO Greg Feller, this call will provide insights into Mogo's performance and future outlook. Financial results will be released after market close on the same day. The live webcast will include a slide presentation and can be accessed through Mogo's investor relations page.
Mogo Inc. (NASDAQ:MOGO, TSX:MOGO) has successfully completed a registered direct offering, selling 5,346,536 common shares at US$10.10 each, generating approximately US$54 million in gross proceeds. After expenses, the company expects net proceeds of about US$49.7 million. Additionally, the offering includes unregistered warrants to acquire up to 2,673,268 common shares at US$11.00 each. Proceeds will primarily fund the cash component of an investment in Coinsquare Ltd., with remaining funds allocated for corporate and working capital needs.
Mogo Inc. (NASDAQ:MOGO) has entered agreements to sell 5,346,536 common shares at US$10.10 each, raising approximately US$54 million before fees. The offering is expected to close around February 24, 2021. The funds will partially finance its investment in Coinsquare Ltd. and support general corporate purposes. Additionally, Mogo will issue unregistered warrants for 2,673,268 common shares at an exercise price of US$11.00, expiring three and a half years after issuance. The company has also terminated its prior ATM Agreement, ceasing a US$50 million offering.
Mogo Inc. (NASDAQ:MOGO) announced its subsidiary, Carta Worldwide, is expanding into the U.S. market, the largest payments market globally. Starting Q1 2021, Carta will launch innovative card products for various clients, aiming to grow its customer base among banks and fintech companies. Carta's platform supports over 100 card programs worldwide and enhances international expansion capabilities for clients. Mogo empowers over one million members with digital financial solutions, including a prepaid card and cryptocurrency services.
Mogo, a digital payments and financial technology company, announced that President Greg Feller will participate in the Jefferies Electronic Payments Summit on February 17, 2021. Mogo will be part of a panel discussion focused on driving the daily utility of Bitcoin & Crypto, along with opportunities for one-on-one meetings. The company empowers over one million members with its app, offering features like a digital spending account, carbon-offsetting prepaid cards, Bitcoin trading, credit score monitoring, and personal loans. For more, visit mogo.ca.
Mogo, a digital payments and financial technology company, announced its acquisition of a 19.99% stake in Coinsquare, Canada’s leading digital asset trading platform, for approximately $56.4 million. This strategic investment allows Mogo to enhance its MogoCrypto product and build on a multi-year relationship with Coinsquare. Mogo also has the option to acquire an additional 20% stake under specific conditions. Coinsquare has experienced substantial growth, with a trading volume exceeding $525 million in January 2021, and aims to further increase its market presence.
Mogo (NASDAQ:MOGO, TSX:MOGO) has announced that its subsidiary, Carta Worldwide, has launched its services in Japan, facilitating the rollout of TransferWise's multi-currency debit card. Carta's open-API issuer platform provides innovative payment solutions to fintech firms globally. This expansion allows Carta to tap into Japan's burgeoning fintech market, enhancing its card issuance technology. Mogo empowers over one million members with digital financial solutions, including a prepaid card and cryptocurrency trading.
Mogo (NASDAQ:MOGO) reported significant growth in January for its bitcoin services, with a 141% increase in new bitcoin account additions and a 323% rise in bitcoin trading volume compared to December. CEO David Feller emphasized the long-term growth potential of MogoCrypto amidst increasing interest in bitcoin among Canadians. Although currently not a major revenue contributor, MogoCrypto is highlighted as the fastest-growing product, which could enhance subscription and services revenue for 2021. Mogo aims to simplify bitcoin transactions through its user-friendly app.
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