Letter News

Moka is joining forces with Mogo

Today is a day to celebrate. For Moka’s loyal community of users in Canada and abroad. For our dedicated team and investors. For the fintech ecosystem and for anyone who is looking for a simpler, smarter, and more powerful way to achieve their financial goals. Today’s announcement is a giant step in the right direction. 

Moka will be acquired by Mogo

I’m thrilled to announce that Moka is joining forces with Mogo Inc. (NASDAQ: MOGO) (TSX: MOGO) in an acquisition that will create the most comprehensive consumer-facing fintech company in Canada. This deal will allow us to help even more people realize their financial dreams and it will improve the services that we can offer to our existing customers, who can continue to use the Moka app as usual.

Moka started with a mission to help people

In 2016, we set out to help Canadians achieve their financial goals by making it easy to save and invest. Our original round-up and invest feature makes it effortless for anyone to grow their wealth, with no financial knowledge or minimum investment required. We’ve grown a lot since our first app release. Most recently, we launched Moka 360 to help Canadians discover more money in their daily life and we expanded to Europe by launching in France. But our vision and our mission don’t stop there.

Everyone deserves a platform that makes managing their personal finances easier, more affordable, and more accessible. By combining technology, data and human ingenuity, Moka helps people live their best life and accomplish things that were previously out of reach, like buying a home, paying off debt, travelling the world, having a family, or saving for retirement. 

Everything we do is driven by our mission

Over the past five years, our mission has been at the heart of everything we do. Our decision to partner with Mogo is a huge step towards achieving that mission because the Moka and Mogo teams share a common purpose: we help people manage their money better. That’s why we’re so excited to join their family. 

For Moka and our community, this merger is a big win in three ways:

Firstly, I love Mogo’s innovative and diverse products and I’m confident they’ll benefit our Moka community. From digital spending accounts to automatic carbon offsetting, to bitcoin investing, and more, Moka users will soon have access to an even wider array of intuitive and affordable services.

Next, as part of a large, publicly-traded company in Mogo Inc., Moka can focus on innovation and on delivering the best possible customer experience — a freedom that most startups can’t usually afford.

Lastly, by uniting our companies’ expertise and technologies, we’ll create powerful synergies that will let us execute better and faster for you.

Our mission remains unchanged, but now we’re empowered to do more, faster

While we celebrate today, we know that this is only the next chapter in our journey. We have a lot of work to do, together, to build a future where financial technology can truly help everyone live their best life.

We could not have gotten this far without the unwavering support and dedication of our teammates, investors, families, partners and, most of all, our loyal customers. I can’t thank you enough for the trust you’ve placed with us, and we remain committed to our promise to you.

We look forward to innovating and building products and experiences that will inspire you and improve your life.

If you aren’t yet part of this journey, but what I’ve said above resonates with you, why not come along for the ride? We’re going to some pretty amazing places! 

Excited for today and the future,


Philip Barrar

Founder & CEO, Moka

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