Multitude SE acquires 19.97% of an equity in a leading Finnish financial services comparison platform, Sortter Oy
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EQS-News: Multitude SE / Schlagwort(e): Fusionen & Übernahmen
Multitude SE acquires 19.97% of an equity in a leading Finnish financial
services comparison platform, Sortter Oy
04.04.2023 / 07:30 CET/CEST
Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.
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Multitude SE acquires 19.97% of an equity in a leading Finnish financial
services comparison platform, Sortter Oy
Helsinki, 4 April 2023 - Multitude SE (ISIN: FI4000106299, WKN: A1W9NS)
("Multitude" or the "Group") has acquired 19.97% ownership in a leading
Finnish financial comparison platform, Sortter Oy. After the transaction
Multitude has become a non-controlling minority shareholder of the company.
Multitude growth platform includes all centralised functions of the Group,
and it currently supports three independent business units: SweepBank,
Ferratum and CapitalBox. The Group is actively looking for opportunities to
expand its business organically or non-organically. This transaction is a
natural development of Multitude's strategy, which was published in year
2021.
"The financial comparison market has recently started to consolidate in the
Nordic region. This means that a handful of stronger players will remain to
dominate the market. Sortter is one of those dominant players, being second
largest financial comparison platform in Finland. To maintain a healthy
ecosystem and to accelerate Sortter's future growth, we have decided to
invest into the company. We have operations in 19 countries mostly in Europe
and we can support Sortter's expansion to new countries through our growth
platform. After three year's period, we may have a possibility to increase
our ownership further in Sortter" says Multitude Group's CFO, Bernd Egger.
Sortter is a Finnish FinTech company established in 2018, which compares
financial services for its customers in the similar way hotels or flights
are compared online. Sortter is handling credit applications worth of more
than 300 million euros every month and has become one of the biggest
financial product comparison services in Finland. Sortter's revenues
amounted to over EUR 5,5 million in 2022 and it grew 160% from the previous
year.
"We are happy to welcome a strong investor to support Sortter's further
growth. This minority investment strengthens our ability to grow but does
not change our operative business model or goals. We now have further muscle
to grow our product portfolio and enter new markets" says Sortter Oy's CEO,
Markus Huhdanpää.
"We are building the most valued financial ecosystem around Multitude's
growth platform, and we see Sortter as a great attributor to this ecosystem.
As our Group's mission is to democratise financial services through
digitalisation, making them fast, easy and green, we are very happy to see
that Sortter is also perfectly aligned with this mission. Multitude's growth
platform brings synergies to Sortter with customer acquisition and
centralised funding side," says Multitude Group's Chief Strategy and IR
Officer, Lasse Mäkelä.
Contacts:
Lasse Mäkelä
Chief Strategy and IR Officer
Lasse.makela@multitude.com
About Multitude SE:
Multitude aims to become the most valued financial ecosystem by acting as a
growth platform that creates success stories in FinTech. With profound
know-how in technology, regulation, funding and cross-selling, Multitude
offers a range of sustainable banking and financial services for FinTechs to
grow and scale rapidly. Multitude and its three independent business units,
SweepBank, Ferratum and CapitalBox, employ around 700 people in 19
countries, and they together generated EUR 212 million revenue in 2022.
Multitude was founded in 2005 in Finland and is listed in the Prime Standard
segment of the Frankfurt Stock Exchange under the symbol 'FRU'.
www.multitude.com .
About Sortter Oy:
Sortter is a Finnish FinTech company established in 2018. We compare
financial services in the same way hotels or flights are compared online.
Sortter is for smart individuals, who want to compare financial products to
find a service provider for their needs. At the beginning, comparison of
financial products may seem an easy job but once you dig deeper - it's like
rocket science. With our help, picking the best financial products is like
taking a morning walk in the park.
We help you translate all the fees and banking terms into something even a
grandma can understand. We are always 100% on your side: we offer fair
comparisons, free of charge and tailored to your needs. www.sortter.fi and
www.sortter.com
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04.04.2023 CET/CEST Veröffentlichung einer Corporate News/Finanznachricht,
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Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.
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News/Finanznachrichten und Pressemitteilungen.
Medienarchiv unter https://eqs-news.com
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Sprache: Deutsch
Unternehmen: Multitude SE
Ratamestarinkatu 11 A
00520 Helsinki
Finnland
Telefon: +49 (0) 30 9210058-44
Fax: +49 (0)30 9210058-49
E-Mail: ir@multitude.com
Internet: https://www.multitude.com/
ISIN: FI4000106299
WKN: A1W9NS
Börsen: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart, Tradegate Exchange; Stockholm
EQS News ID: 1598929
Ende der Mitteilung EQS News-Service
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1598929 04.04.2023 CET/CEST
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Quelle: dpa-AFX
