Canadian fintech Mogo Finance Technology announced on Tuesday it opened more than 210,000 new member accounts in 2018, which brought its member base to approximately 756,000 on December 31st.
The company claims it is a digital challenger to the banks in Canada and empowers consumers with solutions to help manage and control finances. Users may sign up for a free MogoAccount in as little as three minutes and have access to six products such as free credit score monitoring, identity fraud protection, digital spending accounts with Platinum Prepare Visa Cards, digital mortgage experience, and the MogoCrypto accounts. While sharing more details about the milestone, David Feller, Mogo’s Founder and CEO, stated:
“We are driven to help Canadians get in better control of their financial health through our mobile-first platform and growing suite of products. 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 that is designed to provide a best-in-class digital experience.”
Greg Feller, President & CFO, went on to add:
“Our team is hard at work on the development of new features and products – including the rollout of the enhanced MogoCard with a new cash back program as well as expansion of our MogoWealth products – that will bring even more value to our members and additional opportunities to monetize this member base. 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. We continue to have active discussions with potential partners as we look to further expand our product offering.”