30.01.2018 12:00

Fellow Finance Financial Statement Bulletin

Fellow Finance Group 1 January - 31 December 2017

Fellow Finance's revenue increased 55% from the previous year to EUR 8,7 (5,6) million and the operating income was EUR 2,5 (0,9) million. The company’s business and the number of loans intermediated through the marketplace lending platform continued to grow significantly in 2017. During the last year, Fellow Finance intermediated consumer and business loans worth of EUR 99,2 million (+120%) and the number of loan applicants increased 140% from 2016. Fellow Finance was the largest crowdfunding and peer-to-peer service in the Nordic countries in terms of intermediated loans in 2017 (AltFi Data). Important milestones of the last year were market entry to Germany and the launch of flexible and efficient Finnish business invoice funding service. Fellow Finance also became the first Finnish crowdfunding and peer-to-peer platform, which has been authorized as a payment institution by the Financial Supervisory Authority of Finland.

In 2018, the company will continue its internationalization into new markets as well as invest significantly in its service development. These main actions aim to increase and maintain the operational and technical lead in European crowdfunding and peer-to-peer services and facilitate the launch of new innovative financing services for a large customer base in Europe.

The company's board of directors consisted of Karri Haaparinne as the chairman and Teemu Nyholm, Jouni Hintikka, Harri Tilev, Pontus Oinonen and Pekka Samuelsson. The company's auditor was Timo Helle, Authorized Public Accountant. The company has outsourced the Compliance function to Lexia Attorneys Ltd and the internal auditing audit to Soinio Ltd.

For further information please contact, Jouni Hintikka, CEO, Fellow Finance Plc, Tel. +358 40 5855 009, jouni.hintikka (at) fellowfinance.fi