More troubling news for Mogo shareholders
Earlier this week Mogo reported that core revenue in 2019 1Q was $16.35 million which was virtually unchanged from 2018 4Q revenue of $16.11 million.
As growth in revenue slows competition is increasing as Koho Financial raises $42 million of new equity .......
https://www.theglobeandmail.com/business/article-toronto-fintech-company-koho-financial-raises-42-million-in-growth/
Koho is backed by the Desmarais family's Power Corporation which has substantial investments in other fintechs such as Wealthsimple and Borrowell ......
https://vancouversun.com/investing/desmarais-backed-venture-fund-aims-to-make-koho-leader-in-fintech-as-wealthsimple-is-in-investing/wcm/14314da4-96b5-4b1b-80b0-122bf32a5e31
As existing business is challenged by new entrants such as Koho, Mogo shareholders may find that developing new business against the likes of Wealthsimple more difficult than they care to imagine.