Multitude_SE

Multitude SE
Company typePublic company
IndustryFinancial services
FoundedMay 1, 2005; 18 years ago (2005-05-01)
FounderJorma Jokela
Headquarters
Helsinki
,
Finland
Key people
Jorma Jokela, CEO
ProductsMobile Banking, SME Loans, Consumer Loans
BrandsMultitude, SweepBank, CapitalBox and Ferratum
Websitemultitude.com

Multitude SE (formerly Ferratum) is a European lender headquartered in Helsinki, Finland.

Company History

Multitude was founded in 2005 by Jorma Jokela, who has been its CEO since the company's foundation.[1][2] Multitude was listed on the Frankfurt Stock Exchange on February 6, 2015.[3]

Commerce Commission court case

In June 2020, Multitude settled a claim over alleged breaches of the lender responsibility principles in New Zealand, distributing a total of $88,173 in borrowing costs across 46 customers.[4] 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.[5][6] On April 4, 2023, Ferratum Australia's shareholders voted to enter liquidation.[7]

References

  1. ^ "Ferratum Oyj (FRU.DE)". Reuters. Archived from the original on 2017-07-28.
  2. ^ "Multitude SE (FRU.DE) Latest Press Releases & Corporate News - Yahoo Finance". finance.yahoo.com. Retrieved 2023-05-31.
  3. ^ "FERRATUM OYJ: Stock Exchange Release". GlobeNewsWire. April 6, 2017. Retrieved June 17, 2017.
  4. ^ "High Cost lender Ferratum admits responsible lending breaches". Mirage News. 2020-06-30. Retrieved 2023-05-31.
  5. ^ "ASIC commences proceedings against Ferratum Australia for charging prohibited credit fees". Mirage News. 2021-11-01. Retrieved 2023-05-31.
  6. ^ "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.
  7. ^ "Notice Details". Australian Securities and Investments Commission. Retrieved 2023-05-31.

External links