Former Head of PayPal Canada joins Mogo Finance Technology as an Advisor

VANCOUVER, Nov. 14, 2017 /CNW/ - Mogo Finance Technology Inc. (TSX: MOGO) (OTCQX: MOGOF) ("Mogo" or the "Company"), one of Canada's leading financial technology companies and a provider of innovative financial products to consumers, today announced that fintech executive Darrell MacMullin has joined Mogo as an Advisor to support the Company's product expansion efforts, including the upcoming launch of Mogo's recently announced  cryptocurrency account, and new strategic partnership opportunities.  

MacMullin has driven successful new payment and commerce innovations for the past 15 years, including the launch and leadership of PayPal during its first eight years in Canada. He has worked closely both as an advisor to and investor with entrepreneurs, developers and industry partners to accelerate the growth of new fintech payments and commerce experiences. Prior to PayPal, MacMullin was part of the successful launch and rapid growth of eBay and Chapters Indigo online, helping both of these companies become leading ecommerce players. MacMullin currently serves as an Advisor to Goldmoney Inc. and was previously Chief Operating Officer and Senior Vice President at the company, where he was instrumental in helping commercialize and scale their new product initiatives.

 "Darrell is a highly accomplished executive and a bright mind in our industry, having spent most of his career working with fast-growing fintech and e-commerce companies, including leading PayPal's entry and rapid expansion in Canada," said David Feller, Founder and CEO of Mogo. "Mogo's strategy has many similarities to PayPal's, and we believe Darrell's experience and perspective will be highly valuable as we pursue our growth strategy."  

"The digital transformation of financial services in every segment is accelerating," said MacMullin.  "The Mogo brand is uniquely positioned with millennials in Canada, and Mogo's modern, mobile first experience is set up well to be a leading engagement platform to deliver new financial services and tools to Canadians as the Company expands their product offering and grows their member base.  I've been very impressed with the caliber, experience and scale potential of Mogo's fintech team of almost 250."  

Greg Feller, President & CFO of Mogo, added: "We are excited to have Darrell join the Mogo team as an Advisor given his extensive fintech experience building platform companies.  He will play an important role in working with our team as we consider opportunities to further expand our business through strategic partnerships and acquisitions."

About Mogo

Mogo (TSX: MOGO; OTCQX: MOGOF) — a Vancouver-based financial technology company— is focused on building the best digital financial services experience for the next generation of Canadians. Mogo's platform currently delivers four 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 Platinum Prepaid Visa® Card, mortgages and personal loans.  The platform was engineered to deliver multiple financial products at scale and enable the launch of additional new innovative products, including the Company's recently announced MogoCrypto account which is expected to launch early in 2018.  With more than 500,000 members and growing, Mogo continues to execute on its vision of becoming the financial brand for the next generation of Canadians. To learn more, please visit mogo.ca or download the mobile app (iOS or Android).

Forward-Looking Statements

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 intention to accelerate its plans to integrate cryptocurrencies into the MogoAccount and introduce new products and features based on blockchain technology and statements regarding Mogo's member growth, platform, brand, current products and plans to launch new 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.

SOURCE Mogo Finance Technology Inc.

Craig Armitage, Investor Relations, [email protected], [phone]

Related Links

www.mogo.ca