"IVEST is excited about our investment in this unique premium branded company," said John Bremner, founder of IVEST. "Mogo is in a prime first-to-market position with its revolutionary short-term consumer lending model and process, providing customers with ultra-convenient and instant access to money online." Up until Mogo, the only way to get an instant loan was by going to high cost payday lenders. Along with having to wait in line to start a time-consuming and lengthy paper-based (far from "instant") loan process, these lenders only offered 2 week loans with whopping average interest rates of over 500%. Mogo offers customers savings of up to 90% when compared to traditional instant loans, and also offers customers loan time frames ranging from 2 weeks to 1 year. Mogo gives consumers truly instant online or in-store access to the funds they need wherever they are, without the lines, paperwork, limited time-frames, hassles or exorbitant costs of the traditional consumer lending process.
With over $300 million in loans originated, Mogo's pioneering automated consumer lending process that emphasizes transparency and customer experience with loans guaranteed within the hour, has ensured they are well on their way to becoming a multibillion dollar player in the $300 billion consumer lending space. Additionally, Mogo is a proud supporter of Kiva, a non-profit organization that is focused on helping people around the world lift themselves out of poverty with interest free loans. For every new Mogo customer, Mogo donates $1 to Kiva to support their organization.
About IVEST Private Equity
IVEST Private Equity is a boutique private equity investment fund exclusively focused on premium branded consumer product manufacturers, with a special focus on investments capitalizing on sales to China’s emerging middle class of over 300 million consumers. IVEST does minority and majority equity, and provides mezzanine and debt funding to global manufacturers in all sectors of consumer products including but not limited to: automotive, beauty, beverages, clothing, cosmetics, durable goods, frozen foods, haircare, homecare, packaged foods, pets, snacks, toys and sporting goods, as well as consumer and retail services companies.
Phone: (604) 685-7303
About Mogo Financial
Having originated over $300 million in loans, Mogo Financial is Canada’s #1 online short term lender. Offering the fastest loans in Canada, Mogo is revolutionizing financial services by offering consumers convenient and truly instant access to small loans. Mogo is based in Vancouver BC, and is backed by Varshney Capital and Bluestone Venture Capital.