VANCOUVER, March 21, 2019 /CNW/ - Mogo Finance Technology Inc. (TSX:MOGO) (NASDAQ:MOGO) ("Mogo" or the "Company"), a digital challenger to Canada's banks, today announced it has surpassed the 800,000 member milestone as it continues to establish itself as the go-to digital finance app for the next generation of Canadians. This milestone comes after the Company announced that it added 210,000 new accounts in 2018 and, at year end, its member base stood at 756,000, a 39% increase over the prior year.
"We are bringing together a range of digital financial solutions to make it easy and engaging for consumers to get financially fit, and Canadians are increasingly responding to this proposition," said David Feller, Mogo's Founder and CEO. "With the near-term roll-out of several new products, as well as ongoing enhancements to current products, we will have even more ways to attract new members to our platform, bringing us closer toward our goal of one million members."
Greg Feller, President & CFO, added: "With more than 800,000 members and growing evidence of our ability to quickly launch products and monetize them, we have built a valuable distribution platform. This is supporting our strategy to partner to bring best-in-class products to our members, which is a key strategic focus in 2019."
Mogo (TSX: MOGO; NASDAQ: MOGO) — a financial technology company — is a digital challenger to the banks in Canada, empowering consumers with simple solutions to help them manage and control their finances. Users can sign up for a free MogoAccount in only three minutes and get access to six products including free credit score monitoring, identity fraud protection, digital spending account with Platinum Prepaid Visa® Card, digital mortgage experience, the MogoCrypto account, the first product within MogoWealth, which enables the buying and selling of bitcoin, and access to smart consumer credit products through MogoMoney. The platform has been engineered to deliver a best-in-class digital experience, with best-in-class financial products all through one account. With more than 800,000 members and a marketing partnership with Canada's largest news media company, Mogo continues to execute on its vision of becoming the go-to financial app for the next generation of Canadians. To learn more, please visit mogo.ca or download the mobile app (iOS or Android).
This news release may contain "forward-looking statements" within the meaning of applicable securities legislation, including statements regarding Mogo's strategic priorities and expectations for 2019. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Mogo's growth, its ability to expand into new products and markets and its expectations for its financial performance for 2019 are subject to a number of conditions, many of which are outside of Mogo's control. For a description of the risks associated with Mogo's business please refer to the "Risk Factors" section of Mogo's current annual information form, which is available at www.sedar.com and www.sec.gov. Except as required by law, Mogo disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
SOURCE Mogo Finance Technology Inc
For further information: Craig Armitage, Investor Relations, [email protected], (416) 347-8954