Multitude SE (formerly Ferratum) is a European lender headquartered in Helsinki, Finland.
 | |
| Company type | Public company |
|---|---|
| Industry | Financial services |
| Founded | May 1, 2005 |
| Founder | Jorma Jokela |
| Headquarters | , |
Key people | Jorma Jokela, CEO |
| Products | Mobile Banking, SME Loans, Consumer Loans |
| Brands | Multitude, SweepBank, CapitalBox and Ferratum |
| Website | multitude |
Company History
editMultitude 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
editIn 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
edit- ^ "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.
- ^ "FERRATUM OYJ: Stock Exchange Release". GlobeNewsWire. April 6, 2017. Retrieved June 17, 2017.
- ^ "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
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