Fellow Finance initiates employee cooperation negotiations for lay-offs in Finland

FELLOW FINANCE PLC COMPANY ANNOUNCEMENT 26.6.2020 AT 2:00 PM

The exceptional circumstances caused by the coronavirus pandemic still impact Fellow Finance’s business. Due to this Fellow Finance initiates employee cooperation negotiations on July 1, 2020, with the personnel in Finland for potential lay-offs.

The negotiations affect the entire personnel in Finland (excluding the receivables management functions in Finland). At this stage, the detailed impact of the potential lay-offs cannot be estimated, as it will be determined in the course of the negotiations.

”The coronavirus outbreak still affects the market environment. These measures are necessary to adjust our cost levels in this exceptional business environment,” says Fellow Finance’s CEO Jouni Hintikka.

FELLOW FINANCE PLC

Further enquiries:

Jouni Hintikka, CEO, Fellow Finance Plc, jouni.hintikka@fellowfinance.fi, +358 40 585 5009

Certified advisor, Evli Bank Plc, tel. +358 40 579 6210

Fellow Finance Plc launched its operations in 2014 and it is an internationally active and growth-oriented FinTech group that provides crowdfunding services for people and businesses. Fellow Finance is the leading1 Nordic loan-based crowdfunding and peer-to-peer lending platform which has over 850 000 users from around 70 countries. Fellow Finance Plc is regulated by the Financial Supervisory Authority of Finland as an Authorized Payment Institution. Fellow Finance Plc is listed on Nasdaq First North Growth Market Finland and The Company has around 2 500 shareholders.

¹Measured by the amount of financing facilitated. Source: Brismo Market Data (data accessed on 26 June 2020).

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