Multitude SE: Announcement of rebranding subsidiary, Ferratum Bank p.l.c., to Multitude Bank p.l.c.
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Multitude SE: Announcement of rebranding subsidiary, Ferratum Bank p.l.c., to Multitude Bank p.l.c.
Helsinki, 04 October 2022 – Multitude SE (“Multitude” or “the Group”) announces its subsidiary, Ferratum Bank p.l.c., to be rebranded and renamed to Multitude Bank p.l.c. (“the Bank”). Renaming the Bank is part of a broader rebranding by Multitude SE, which was, until June 2021, called Ferratum Oyj. The new name represents the Bank’s growing national and international presence and allows for easier association with the Group.
Multitude Bank, with a full European banking license, is the regulatory backbone of Multitude Group and acts as a key service provider to the customers of Multitude’s growth platform. The growth platform enables businesses to grow and scale faster through its centralised core operations. The renaming associates the Bank closer with the Group and shows alignment in their strategies to position Multitude’s growth platform as an integral part of creating the most valued financial ecosystem.
“The new name shows our unity and direct connection with and to the Group. It was a natural step after the Group rebranded from Ferratum to Multitude. It also shows how we as a bank have evolved and are proud to have grown our offering over the years and now catering to businesses in addition to consumers.” Said Antti Kumpulainen, CEO of Multitude Bank
In addition to its new name and logo, Multitude Bank has launched a new website (www.multitudebank.com).
About Multitude SE (Multitude Group)
Multitude is a fully regulated growth platform for financial technology. Its ambition is to become the most valued financial ecosystem. This vision is backed by +17 years of solid track record in building and scaling financial technology. Through its full European banking license, profound know-how in technology, regulation, cross-selling, and funding, Multitude enables a range of sustainable banking and financial services to grow and scale. Currently, it has three independent business units on this growth platform: Ferratum as a consumer lender, CapitalBox as a business lender, and SweepBank as a shopping and financing app. Multitude and its independent units employ over 700 people in 19 countries, and they together generated EUR 214 million turnover in 2021. 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 Multitude Bank p.l.c
Multitude Bank p.l.c., a subsidiary of the Multitude SE, is licenced by the Malta Financial Services Authority to provide a range of banking services to its clients. Its EU banking license enables it to provide its services from Malta to other jurisdictions within the EEA, including the acceptance of deposits, which are covered by the Maltese Depositor Compensation Scheme.