Fortress lends up to $40 mln more to fintech platform Mogo

Mogo Finance Technology Inc (TSX: MOGO), a Canadian digital finance company, has raised a new senior secured credit facility from U.S. private equity firm Fortress Investment Group. The facility, which will provide the company with up to $40 million, will be used to repay and replace an existing $30 million facility with Fortress. Mogo has another $50 million facility with Fortress. Vancouver-based Mogo provides a range of online consumer financial services, including loans. President and CFO Greg Feller said the new facility increases available loan capital "on more favourable terms and extends the maturities of all of our funding facilities to 2020."

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