Fellow Finance's international markets will focus on Germany, Poland and Denmark going forward
FELLOW FINANCE PLC COMPANY ANNOUNCEMENT 20.5.2021 AT 10:00 AM
In accordance with its renewed strategy, Fellow Finance will focus more selectively on international markets. The company’s overseas operations will focus on Poland, Germany and Denmark going forward and loan intermediation in Sweden and the Czech Republic will be discontinued.
Fellow Finance will focus and invest in growing its international operations in Poland, Germany and Denmark going forward. In Poland, the company will continue to develop its business lending operations. Consumer lending will be restarted in Poland during July-August following the termination of the temporary interest rate cap at the end of June. In Germany, consumer lending will be relaunched with a new local partner bank approximately during September-November. In Denmark, Fellow Finance will continue with consumer lending and explore new product opportunities.
As part of the decision to focus on Poland, Germany and Denmark with respect to its international markets, the company has decided to discontinue intermediation of loans in Sweden and the Czech Republic. This will not affect investors’ existing loan investments. Fellow Finance will administer existing loans until the end of the loan maturities. The decision will not have a significant effect on Fellow Finance’s overall loan volume or the company’s turnover.
“We are implementing our renewed strategy with the changes. One of the new strategic priorities is a more selected presence on international markets and allocation of resources on markets with the greatest growth potential”, says Teemu Nyholm, CEO of Fellow Finance.
Further enquiries
Teemu Nyholm, CEO, Fellow Finance Plc, tel. +358 50 577 1028
Certified advisor: Evli Bank Plc, tel. +358 40 579 6210
Fellow Finance Plc is a loan-based crowdfunding and peer-to-peer lending platform. The company’s mission is to transform the traditional financing and payments to direct transactions between people and businesses. Fellow Finance has intermediated consumer and business financing of more than 750 million euros in Finland, Sweden, Denmark, Germany, Poland, and the Czech Republic and served more than 950 000 customers. The company is regulated by the Financial Supervisory Authority of Finland as an Authorized Payment Institution and listed on the Nasdaq First North Growth Market Finland. www.fellowfinance.com.
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