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LONDON - Fiinu PLC, a UK-based fintech group, has released its final results for the year ended December 31, 2024. The company, which has developed the Plugin Overdraft® technology, has undergone a significant transformation, including the reinstatement of its UK banking license in 2023 and a transition to a more tech-centric business model.
In an effort to streamline operations, Fiinu has successfully reduced its monthly expenditure from £600,000 to £45,000. This strategic move has allowed the company to maintain its core capabilities while focusing on advancing its technology licensing strategy. A pivotal development in this area was the signing of non-binding Heads of Terms with an independent UK bank in January 2025 to white-label Fiinu’s Plugin Overdraft® solution. The company is also engaging in discussions with other financial institutions interested in employing its software for both retail and SME segments.
Fiinu’s strategy now includes targeting digitally underserved SMEs and financial institutions across Europe, aiming to improve liquidity and customer interaction through its technology. Financially, Fiinu has strengthened its position with a £1.25 million equity raise in February 2025 and a £511,000 R&D tax credit received in May 2025, extending its operational runway until at least mid-2026.
Governance remains a key focus for Fiinu, as highlighted by a positive board effectiveness review and the appointment of a new Executive Director and CFO in March 2025. With product readiness, licensing agreements underway, and secure funding, Fiinu is poised to pursue revenue generation throughout 2025.
Dr. Marko Sjoblom, CEO of Fiinu, expressed confidence in the company’s direction, emphasizing their commitment to building an innovation-led, resilient business that delivers long-term value to stakeholders.
The Annual Report and Accounts for 2024 will be made available to shareholders and can be downloaded from the company’s website. This announcement is based on a press release statement from Fiinu PLC.
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