Mogo Finance Technology secures $200 mln in credit from Fortress
Canadian online lending platform Mogo Finance Technology Inc (TSX: GO), which went public in June, has completed an agreement with the credit arm of Fortress Investment Group, a U.S. private equity firm. The transaction will provide Vancouver-based Mogo with a new expandable revolving credit facility of up to $200 million. The facility, which has a five-year term, will be used to finance expansion of its consumer installment loans of up to $35,000. Mogo also issued share purchase warrants to Drawbridge Special Opportunities Fund LP, another Fortress affiliate. As reported by peHUB Canada in May, the company has previously utilized credit provided by Fortress.
2 September 2015•6 mins read
