Mogo Inc. (“Mogo” or the “Company”), a digital payments and financial technology company empowering the next generation of consumers, today announced the closing of its acquisition of Carta Solutions Holding Corporation (“Carta”), a leader in providing next-gen digital payments solutions. The acquisition was previously disclosed in a press release on November 17, 2020.
Carta’s modern issuing platform is the engine behind innovative fintech companies and products around the globe, powering over 100 card programs and providing vital processing technology to industry leaders including TransferWise, Sodexo, Payfare, and others. Founded in 2007, Carta’s management team has decades of payments and technology industry experience. Carta is currently operating in Europe, Asia and Canada and recently expanded into the U.S. market. Carta’s executive team will continue to run the operations as part of Mogo.
The combination is expected to:
- Significantly expand Mogo’s total addressable market by entering the global $2.5 trillion global payments market;
- Increase Mogo’s revenue scale and accelerate the growth of its high-margin subscription and transaction-based revenue; and
- Strengthen the Company’s digital wallet capabilities, which includes the development of its peer-to-peer payment solution.
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