M&A Deal Summary

goeasy Acquires Mogo - Consumer Loan Portfolio

On February 28, 2020, goeasy acquired financial services company Mogo - Consumer Loan Portfolio from Mogo

Acquisition Highlights
  • This is goeasy’s 1st transaction in the Financial Services sector.
  • This is goeasy’s 1st transaction in Canada.
  • This is goeasy’s 1st transaction in British Columbia.

M&A Deal Summary
Date 2020-02-28
Target Mogo - Consumer Loan Portfolio
Sector Financial Services
Buyer(s) goeasy
Sellers(s) Mogo
Deal Type Divestiture

Target

Mogo - Consumer Loan Portfolio

Vancouver, British Columbia, Canada
Mogo, Inc. - Consumer Loan Portfolio consists of $31.9 million and approximately 5,700 active customers, consisting of personal installment loans with terms of up to 5 years. The transaction also includes approximately $12.4 million of previously written off consumer loans and a commitment for Mogo to market and promote easyfinancial to its current and prospective members.

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Buyer(S) 1

Buyer

goeasy

Mississauga, Ontario, Canada
Category Company
Founded 1990
Sector Financial Services
Employees2,500
Revenue 1.3B CAD (2023)
DESCRIPTION

goeasy is a lease-to-own company, offering brand-name household furniture, appliances and electronics to consumers under weekly or monthly leasing agreements through both corporate and franchise stores. The company was formerly known as easyhome Ltd. and changed its name to goeasy Ltd. in September 2015. goeasy was founded in 1990 and is based in Mississauga, Ontario.

DEAL STATS #
Overall 1 of 3
Sector (Financial Services) 1 of 2
Type (Divestiture) 1 of 1
State (British Columbia) 1 of 2
Country (Canada) 1 of 3
Year (2020) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-12 LendCare

Pickering, Ontario, Canada

LendCare is a Canadian point-of-sale consumer finance and technology company, which enables 3,000 businesses to increase their revenue by providing full credit spectrum financing at the point-of-sale. LendCare is headquartered in Pickering, Ontario.

Buy $320M

Seller(S) 1

SELLER

Mogo

Vancouver, British Columbia, Canada
Category Company
Founded 2003
Sector Internet Software and Services
Employees344
Revenue 65M CAD (2023)
DESCRIPTION

Mogo is a financial technology company offers financial health app that empowers consumers with solutions to help them manage and control finances. Users can sign up for a free MogoAccount in only three minutes and get access to six products including free credit score monitoring. Mogo was founded in 2003 and is based in Vancouver, British Columbia.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (British Columbia) 1 of 1
Country (Canada) 1 of 1
Year (2020) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-17 Carta Worldwide

Oakville, Ontario, Canada

Carta Worldwide is a provider of transaction processing and payments technology, specializing in prepaid, mobile and emerging payments. Carta Worldwide was founded in 2007 and is based in Oakville, Ontario.

Buy $24M
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