Mogo Portfolio Company WonderFi Provides Corporate Update; Mogo Holds ~87M Shares In TSX Listed WonderFi Technologies Inc., Provided A Corporate Update And Q4 2023 Guidance. With 1.6M Users And $1B In Client AUC
Portfolio Pulse from Benzinga Newsdesk
Mogo Inc., a leading Canadian fintech company, announced that its portfolio company, WonderFi Technologies Inc., provided a positive Q4 2023 corporate update. WonderFi, with 1.6 million users and $1 billion in client AUC, is one of Canada's largest crypto exchange platforms. Mogo holds approximately 87 million shares, representing a 13% ownership interest in WonderFi. WonderFi owns Bitbuy and Coinsquare, two major crypto trading platforms, and SmartPay, a crypto payments processor. Q4 highlights include over $1 billion in client assets, $760 million in trading volumes, and $180 million processed in crypto payments. WonderFi also achieved cash-flow positive operations. Mogo's President & CFO, Greg Feller, believes WonderFi is well-positioned for long-term growth and will provide value to Mogo shareholders.
January 08, 2024 | 3:07 pm
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POSITIVE IMPACT
Mogo Inc. holds a significant stake in WonderFi, which reported positive Q4 2023 results, indicating potential growth and value for Mogo shareholders.
Mogo Inc.'s substantial ownership in WonderFi, which has shown positive performance in Q4 2023, suggests that Mogo's investment could benefit from WonderFi's growth. The reported cash-flow positive operations and strong trading volumes of WonderFi's platforms are likely to be viewed positively by investors, potentially leading to a short-term positive impact on Mogo's stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80