The Vancouver-based fintech has agreed to acquire the company for about $1 million in cash and 75,000 Mogo shares. Mogo’s stock fell after the deal was announced, closing more than three per cent lower Monday. (The Logic)

Talking point: Mogo’s president, Greg Feller, said the acquisition, coupled with its $64-million acquisition of digital-payments firm Moka in March, will bolster the company’s ambitions in investment services. With the acquisition of Fortification, Mogo will gain regulatory licences that will allow it to offer commission-free stock trading, which has exploded in popularity since the start of the pandemic. The company expects the service, MogoTrade, to launch this year, competing primarily with Wealthsimple, which offers a commission-free trading platform of its own.