Wekerle-Backed Fintech Firm Mogo Surges on Crypto Exchange Deal

Michael Wekerle, co-founder of Difference Capital Financial Inc. which merged with Mogo Inc. in 2019, stands on the balcony level of the El Mocambo entertainment venue during a media preview event in Toronto, Ontario, Canada, on Tuesday, March 3, 2020. Mogo shares surged after buying a stake in a cryptocurrency exchange, deepening the company’s exposure to Bitcoin. — Michael Wekerle, co-founder of Difference Capital Financial Inc. which merged with Mogo Inc. in 2019, stands on the balcony level of the El Mocambo entertainment venue during a media preview event in Toronto, Ontario, Canada, on Tuesday, March 3, 2020. Mogo shares surged after buying a stake in a cryptocurrency exchange, deepening the company’s exposure to Bitcoin.
Photographer: Galit Rodan/Bloomberg

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By Michael Bellusci

February 12, 2021 at 6:17 PM UTC

This article is for subscribers only.

Mogo Inc. shares extended their rally after buying a stake in a cryptocurrency exchange, deepening the company’s exposure to Bitcoin.

Vancouver-based Mogo announced a deal to buy just under 20% of Coinsquare Ltd. for about C$56.4 million ($44.5 million) on Thursday, with the option to buy an additional 20% via share purchases and exercising of warrants. The deal is expected to close during the first quarter.