Multitude SE
 | This article needs to be updated. (September 2022) |
 | |
| Public company | |
| ISIN | 🆔 |
| Industry | Financial services |
| Founded 📆 | May 1, 2005 |
| Founder 👔 | Jorma Jokela |
| Headquarters 🏙️ | , , |
Area served 🗺️ | |
Key people | Jorma Jokela, CEO |
| Products 📟 | Mobile Banking, SME Loans, Prime Loans, Plus Loans, Credit Limit |
| Brands | Multitude, SweepBank, CapitalBox and Ferratum |
| Members | |
Number of employees | |
| 🌐 Website | multitude |
| 📇 Address | |
| 📞 telephone | |
Multitude SE (formerly Ferratum) is a mobile lender.
History and founder
Multitude was founded in 2005 by Jorma Jokela, who has been its CEO since formation.[1][2]
Geographical presence and operation
Multitude provides mobile loans to consumers and small businesses and is currently represented in Europe, North America, South America, and the APAC region. The company has an EU banking license.[3]
Listing on the Frankfurt Stock Exchange
Multitude was listed on the Frankfurt Stock Exchange Main List on February 6, 2015.[4] Ferratum was the first FinTech company in the stock exchange.[citation needed] In the announcement, Ferratum sold its shares to international institutional investors. The sale price of the shares was EUR 17, with the company's market value of approximately EUR 370 million. A total of EUR 48 million was collected for the purpose of financing the company's future growth: new product areas and business expansion.[5][6][7] After the listing, Jorma Jokela is still the largest shareholder in the company.
Launch of SweepBank
SweepBank launched to the public in 2016 in Germany, Sweden and Norway. Users can access their current accounts, savings, and debit cards in multiple currencies in one app.[8] The open architecture of the mobile banking app allows for the integration of service widgets published by other companies.[9][10] The mobile banking app uses behavioral data analysis to recommend new services to users.
Commerce Commission Court Case
In June 2020, Multitude agreed to settle a claim over alleged breaches of the lender responsibility principles in New Zealand, whereby 46 named customers received $88,173 costs repaid. [11] In 2021, the Australian Securities and Investments Commission said that Ferratum Australia had charged illegal fees and overcharged some customers who paid their loan early.[12][13] On 4 April 2023 Ferratum Australia;s shareholders voted to wind up the company and enter liquidation.[14]
References
- ↑ "Ferratum Oyj (FRU.DE)". Reuters. Archived from the original on 2017-07-28.
- ↑ "Multitude SE (FRU.DE) Latest Press Releases & Corporate News - Yahoo Finance". finance.yahoo.com. Retrieved 2023-05-31.
- ↑ Vom, Nachricht (April 9, 2014). "Ferratum Group: Optimism for financial year 2014 based on successful business development in 2013". Dgap. Retrieved March 5, 2017.
- ↑ "FERRATUM OYJ: Stock Exchange Release". GlobeNewsWire. April 6, 2017. Retrieved June 17, 2017.
- ↑ "Mobile consumer loans firm Ferratum plans Frankfurt share offer". Reuters. November 7, 2014. Retrieved March 5, 2016.
- ↑ "Ferratum Share". Borse Frankfurt. Retrieved 2017-07-17.
- ↑ "Multitude SE Equity | A1W9NS | FI4000106299 | Share Price". www.boerse-frankfurt.de. Retrieved 2023-05-31.
- ↑ "Ferratum Oyj (via Public) / Ferratum Group launches Mobile Bank in France and Spain". Publicnow.com. Retrieved 2017-07-17.
- ↑ "QA Financial - Ferratum Case Study on Mobile Banking". 26 September 2016. Archived from the original on 28 July 2017. Retrieved 24 July 2017. Unknown parameter
|url-status=ignored (help) - ↑ "Testing Case Study – Ferratum". QA Financial. Archived from the original on 2019-02-21. Retrieved 2023-05-31.
According to Caj Sjöman, head of mobile banking at Ferratum, a digital bank that specialises in short-term loans to retail customers, testing mobile apps represents the single most significant challenge for the fin...
- ↑ "High Cost lender Ferratum admits responsible lending breaches". Mirage News. 2020-06-30. Retrieved 2023-05-31.
- ↑ "ASIC commences proceedings against Ferratum Australia for charging prohibited credit fees". Mirage News. 2021-11-01. Retrieved 2023-05-31.
- ↑ "21-287MR ASIC commences proceedings against Ferratum Australia for charging prohibited credit fees". Australian Securities and Investments Commission (Press release). 1 November 2021. Retrieved 2023-05-31.
- ↑ "Notice Details". Australian Securities and Investments Commission. Retrieved 2023-05-31.
External links
This article "Ferratum" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Ferratum. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
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This page exists already on Wikipedia. |
