For the eagle eyed amongst you, you may have noticed that Mogo completed an initial public offering and has been listed as a public company on the Toronto Stock Exchange, trading under the symbol “GO”.
A very big day at Mogo
This marks a milestone in Mogo’s journey as Canada’s leading online lending platform as we strive to offer socially responsible financial solutions that help Canadians stay in control of their financial health.
Mogo offers credit to the full spectrum of consumers, regardless of credit rating or financial status, at rates that we believe are generally lower than the rates charged by traditional institutions for comparable products.
As you know our solution includes personal loans of up to $35,000, with rates starting as low as 5.9%, and a free prepaid Mogo Visa card with no monthly fee, that offers consumers a responsible alternative to credit cards.
In addition, our unique Level Up program provides those with less than perfect credit a clear path to even lower rates over time. We have plans for new product offerings in the near future, which we will keep you updated on.
Through our technology-driven platform, which has originated over 900,000 loans since 2007, we can provide a more efficient customer experience and better product offering. Our goal is to continue leveraging this platform and extending our socially responsible brand to new products and markets, bringing Canadians a new level of convenience, simplicity and transparency.”
Mogo issued 5,000,000 common shares at a price of CDN $10 per share, resulting in aggregate gross proceeds to Mogo of CDN $50 million.