VANCOUVER, Aug. 2, 2017 /CNW/ - Mogo Finance Technology Inc. (TSX: MOGO)(OTCQX: MOGOF), one of Canada's leading financial technology companies, today announced that it has surpassed 450,000 Mogo members, an increase of approximately 54,000 from the 396,000 members reported as at March 31, 2017.
"Canadians continue to embrace Mogo's innovative digital financial products and value proposition as they look for simpler and more convenient ways to get in control of their financial health," said David Feller, Founder and CEO of Mogo. "As the recent EY FinTech Adoption Index highlighted, we are still at the early stages in the shift to digital financial services. According to the report, the number of Canadians that have used a FinTech service has doubled in the past two years, but is still less than 20%, compared with over 60% in some countries. We believe Mogo has one of the leading digital financial platforms and product offerings, and is very well positioned as this digital shift continues."
This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding Mogo's member growth, brand and products. 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 and its ability to expand into new products and markets 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 annual information form dated March 7, 2017, which is available at www.sedar.com. 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.
Mogo (TSX: MOGO; OTCQX: MOGOF) — a Vancouver-based financial technology company — is focused on building the best digital financial services experience in Canada, with innovative products designed to help consumers get in control of their financial health. Built mobile first, users can sign up for a free MogoAccount in only three minutes and get access to free credit score monitoring, the Mogo Prepaid Visa® Card, mortgages and personal loans. With more than 450,000 members and growing, Mogo is offering consumers real alternatives to the big banks. To learn more, please visit mogo.ca or download the mobile app (iOS or Android).
SOURCE Mogo Finance Technology Inc
For further information: Craig Armitage, Investor Relations, [email protected], (416) 347-8954