Operational Update and Adviser Change
Fiinu PLC has fully drawn down its £2 million convertible loan facility with Conister Bank Limited, as initially announced on September 22, 2025. These funds will primarily support general working capital needs and the advancement of Fiinu's technology platform. Fiinu also appointed Marex Financial as a Joint Broker, joining Oberon Capital, while concluding its broking arrangement with SP Angel Corporate Finance LLP after three years. The company is still planning to launch the PlugIn Overdraft® in Q4 2025.
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Fiinu Plc (AIM: BANK), the fintech group and creator of the Plugin Overdraft®, provides the following operational update alongside confirmation of changes to its adviser arrangements.
Convertible Loan Drawdown
The Company confirms that, further to its notification on 22 September 2025, it has now fully drawn down the £2 million convertible loan facility agreed with Conister Bank Limited ("Conister").
The proceeds will be used, primarily, for general working capital purposes and to support the continued development and commercialisation of Fiinu's proprietary technology platform. The terms of this facility remain unchanged.
The Board values the ongoing support from Conister, which has been a constructive and committed partner as the partnership progresses towards the joint launch of the PlugIn Overdraft®, which remains scheduled for launch in Q4 2025.
Corporate Broker Update
Fiinu announces the appointment of Marex Financial as the Company's Joint Broker with immediate effect. Oberon Capital remains as the Company's other Joint Broker.
As part of this change, Fiinu confirms that the Company's retained broking arrangement with SP Angel Corporate Finance LLP has now concluded. The Board of Fiinu would like to take this opportunity to thank the team at SP Angel for its valued support and advice over the past three years, during which time they have contributed significantly to the Company's development and market presence. The parting is on good terms, and both parties remain committed to maintaining a positive working relationship going forward.
Outlook
These developments reinforce the Company's strategic progress, strengthen its capital position, and should enhance its market representation as Fiinu prepares for its next stage of growth. Coupled with the planned strengthening of its management team, the Board remains confident in Fiinu's direction and looks forward to updating shareholders on further milestones in due course.
The Directors of the Company are responsible for the release of this announcement.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.