Multitude SE

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

Multitude SE
TypePublic company
IndustryFinancial services
FoundedMay 1, 2005 (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

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.
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