Finnish marketplace lender posts second profitable year

By Ryan Weeks on 8th February 2017

P2P/Marketplace Lending

Helsinki-based peer-to-peer/marketplace lender Fellow Finance makes €0.15m profit in 2016.

Finnish marketplace lender posts second profitable year

Fellow Finance, Finland’s biggest marketplace lender by volume, notched another profitable year in 2016. The company’s revenues came in at €5.59m for the year, translating to €0.15m in profits. This is the second year in a row that the platform has been profitable – a rare feat within the world of marketplace lending.

Fellow Finance’s revenues grew by around €1.5m on a year-on-year basis in 2016, but profits fell by around €300k. CEO Jouni Hintikka attributes this to the company having made “significant investments” in starting up its SME loan offering in Finland and consumer lending business in Poland.

The company's business lending products in Finland now include both term loans and flexible invoice financing options. Both products are available to the platform’s investor base for investment.

Fellow Finance has lent over €95m to date, with a little over €5m lent so far this year. The firm boasts close to a 5 per cent market share within continental Europe’s marketplace lending sector, according to AltFi Data.

The company’s plans for 2017 are to “grow the business in Europe and expand the product selection further for both businesses and consumers”. 

Comments

Companies in this Article:

Fellow Finance

More like this:

Zopa wakes up and smell the MOCA

12th October 2016
Luke Mellor

Zopa stake boosts TruFin annual results

18th May 2018
Daniel Lanyon

P2P lenders benefit as BoE keeps interest rates low

10th May 2018
Karoliina Liimatainen