AIM Admission First Day of Dealings, Board changes
Fiinu completes reverse takeover of Everfex, a Polish currency hedging business, and readmits to AIM trading.
- Everfex operating profit (2024) c. PLN 6.57 million
- Spot, swap and forward contracts executed (2024) $1 billion
- SME client growth (2024) 1,300%
- New clients gained (2024) 2,300
- Total Everfex clients at year-end 2024 2,500
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Fiinu Plc (AIM: BANK) is pleased to announce the readmission of its shares to trading on AIM ("Admission") following completion of the reverse takeover of Everfex P.S.A ("Everfex"), following Admission.
About Everfex
Everfex is a recently incorporated company, that acquired the business, trade and certain assets of Stały Kurs on 1 January 2025. As part of the Stały Kurs acquisition, Everfex purchased the right to use the Stały Kurs name and will continue to trade as Stały Kurs in Poland. Stały Kurs was established in September 2019, in Poland, to provide currency hedging solutions.
The business serves small and medium-sized businesses exposed to Polish Zloty fluctuations against all major currencies. Over the years Stały Kurs had developed into a key player in the Polish market, specialising in supporting import and export businesses with currency exchange. Stały Kurs has demonstrated year-on-year growth in revenue and profitability, primarily driven by the expansion of its client base and improved operational efficiency.
At the end of Q2 2023, a new management team, led by CEO, Karol Oleksa, restructured aspects of the Stały Kurs business and introduced a more robust governance and risk management framework. As part of this restructuring the previous CEO left the business in Q2 2023, and sold his shareholding in Stały Kurs. In late 2024, the business underwent a restructuring in preparation for its transfer to Everfex, and in July 2025 the then owners of Everfex (being the Beneficial Owners) transferred Everfex to Granicus Holdings, which entity has entered into the Acquisition Agreement for the sale of Everfex to the Company.
Milestones and Achievements in 2024:
- The business achieved the first profitable full operational year with an unaudited operating profit of c. PLN 6.57 million for the period from 1 January 2024 to 31 December 2024.
- The business executed over $1 billion in spot, swap, and forward contracts traded in 2024.
- There was growth of over 1,300% in the total number of SME clients profits for the period from 1 January 2024 to 31 December 2024, with approximately 2,300 new clients gained in 2024, giving a total number of Everfex clients at the year end of approximately 2,500.
The Company's ISIN, SEDOL and LEI number remain unchanged:
- The ISIN of the Ordinary Shares is GB0033881904;
- The SEDOL of the Ordinary Shares is 3388190; and
- The Company's LEI number is 213800XSRH9SNN1EXX92.
Marko Sjoblom, CEO of Fiinu, commented:
"The completion of the Everfex acquisition is a significant step in Fiinu's strategic journey, broadening our presence in the foreign exchange market and strengthening our capabilities in serving SME customers across Europe. This transaction not only delivers a profitable and scalable business into the Group but also complements our technology-led strategy, particularly as we expand the reach of our Plugin Overdraft® and BaaS offerings.
"As well as the Everfex team, we are also delighted to welcome two new directors the Company's board. Sami Kalliola and Mark Wallace add significant, relevant experience and knowledge to the Board as we look to integrate Everfex and continue to expand the Group."
Directorate Changes
As set out in the Company's Admission Document dated 7 August 2025, the following two individuals have been appointed to the Company's Board of Directors with effect from Admission:
Sami Kalliola - Chief Strategy Officer
Mark Wallace - Independent Non-Executive Director, and Chair of Everfex
Full details of the Directors are given in the Company's Admission Document dated 7 August 2025.
At the time of their appointment, being Admission, they each held the following interests in the shares of the Company:
Sami Kalliola (Chief Strategy Officer) holds 2,000,000 ordinary shares representing 0.53 per cent. of the issued share capital of the Company, together with 1,250,000 options. Further details of these options are set out in the Company's Admission Document dated 7 August 2025.
Mark Wallace (Independent Non-Executive Director, and Chair of Everfex) holds 1,435,903 ordinary shares representing 0.38 per cent. of the issued share capital of the Company.
There are no further disclosures to be made pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies.
| Fiinu Plc Dr. Marko Sjoblom - CEO | Tel: +44 (0) 1932 629 532 |
| SPARK Advisory Partners Limited (Nomad) Mark Brady/Jade Bayat | Tel: +44 (0) 203 368 3550 |
| SP Angel Corporate Finance LLP (Joint Broker) Bruce Fraser/Ezgi Senturk | Tel: +44 (0) 207 470 0470 |
| Oberon Investment Limited (Joint Broker) Nick Lovering/ Adam Pollock/ Mike Seabrook | Tel: +44 (0)203 179 5300 |
| Brazil (Financial PR) Joshua van Raalte /Jamie Lester/Christine Webb | Tel: +44 (0) 207 785 7383 |
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