Mogo opens more than 200,000 new member accounts in 2018

Mogo New Members

Vancouver-based fintech startup Mogo Finance today announced it opened more than 210,000 new member accounts in 2018, bringing its member base to approximately 756,000 as of December 31, 2018.

Founded in 2003, Mogo offers personal loans, identity fraud protection, mortgages, a Visa debit card, and credit scores through Equifax, while targeting a millennial audience.

In April, the company received approval from the NASDAQ Capital Market to list its common shares on the NASDAQ, after having an initial public offering on the Toronto Stock Exchange. The company is also a part of the MaRS Fintech Cluster.

“We are driven to help Canadians get in better control of their financial health through our mobile-first platform and growing suite of products,” said David Feller, Mogo’s founder and CEO. “Our account base is growing quickly, and we expect this to continue through 2019 as we add new products and features all within one app.”

“Our account base is growing quickly, and we expect this to continue through 2019.”

The company has launched several new financial products over the past two years, including a platform that is trying to gamify the mortgage management, and a dedicated cryptocurrency offering, as well as its Mogo Account and iOS app, MogoApp, in an effort to embrace a more digital banking experience.

“With a best-in-class digital experience, more than 750,000 members and a growing brand, we believe Mogo is a unique and valuable platform in the Canadian financial services landscape,” said Greg Feller, Mogo’s president and CFO.

Mogo is currently developing features and products, including the rollout of the enhanced MogoCard with a new cash-back program, as well as the expansion of its MogoWealth products. Feller said the company will continue to have active discussions with potential partners as the company looks to further expand its product offering.

Image courtesy Mogo.

Isabelle Kirkwood

Isabelle Kirkwood

Writer, globetrotter, drone pilot & David Attenborough enthusiast