Multitude SE
{{Short description|FinTech company}}
{{Infobox company
| name = Multitude SE
| logo = MULTITUDE logos-01.svg
| logo_upright = 0.8
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| type = Public company
| industry = Financial services
| founded = {{start date and age|2005|05|01}}
| founder = Jorma Jokela
| hq_location =
| hq_location_city = Helsinki
| hq_location_country = Finland
| area_served =
| key_people = Jorma Jokela, CEO
| products = Mobile Banking, SME Loans, Consumer Loans
| brands = Multitude, SweepBank, CapitalBox and Ferratum
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| website = {{URL|multitude.com}}
}}
Multitude SE (formerly Ferratum) is a European lender headquartered in Helsinki, Finland.
Company History
Multitude was founded in 2005 by Jorma Jokela, who has been its CEO since the company's foundation.{{cite web|url=https://www.reuters.com/finance/stocks/companyOfficers?symbol=FRU.DE|title=Ferratum Oyj (FRU.DE)|website=Reuters|archive-url=https://web.archive.org/web/20170728183900/https://www.reuters.com/finance/stocks/companyOfficers?symbol=FRU.DE |archive-date=2017-07-28 }}{{Cite web |title=Multitude SE (FRU.DE) Latest Press Releases & Corporate News - Yahoo Finance |url=https://finance.yahoo.com/quote/FRU.DE/press-releases/ |access-date=2023-05-31 |website=finance.yahoo.com |language=en-US}} Multitude was listed on the Frankfurt Stock Exchange on February 6, 2015.{{cite news |date=April 6, 2017 |title=FERRATUM OYJ: Stock Exchange Release |work=GlobeNewsWire |url=https://globenewswire.com/news-release/2017/04/06/956124/0/en/FERRATUM-OYJ-Stock-Exchange-Release.html |accessdate=June 17, 2017}}
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.{{Cite news|date=2020-06-30 |title=High Cost lender Ferratum admits responsible lending breaches |url=https://www.miragenews.com/high-cost-lender-ferratum-admits-responsible-lending-breaches/ |access-date=2023-05-31 |website=Mirage News |language=en-AU}} 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.{{Cite web |date=2021-11-01 |title=ASIC commences proceedings against Ferratum Australia for charging prohibited credit fees |url=https://www.miragenews.com/asic-commences-proceedings-against-ferratum-663682/ |access-date=2023-05-31 |website=Mirage News |language=en-AU}}{{Cite press release|title=21-287MR ASIC commences proceedings against Ferratum Australia for charging prohibited credit fees |url=https://asic.gov.au/about-asic/news-centre/find-a-media-release/2021-releases/21-287mr-asic-commences-proceedings-against-ferratum-australia-for-charging-prohibited-credit-fees/ |date= 1 November 2021
|access-date=2023-05-31 |website=Australian Securities and Investments Commission |language=en}} On April 4, 2023, Ferratum Australia's shareholders voted to enter liquidation.{{Cite web |title=Notice Details |url=https://publishednotices.asic.gov.au/browsesearch-notices/notice-details/Ferratum-Australia-Pty-Ltd-151137049/2ce37f38-2126-43ce-8c0e-7f4d9075f495 |access-date=2023-05-31 |website=Australian Securities and Investments Commission |language=en}}
References
{{Reflist}}
External links
- [https://www.multitude.com/ Multitude]
Category:Financial services companies of Finland
Category:Companies based in Helsinki
Category:Financial services companies established in 2005
Category:2005 establishments in Finland
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