Fiinu Plc (AIM: BANK), the London-listed fintech behind the world’s first Plugin Overdraft® platform, has officially completed its reverse takeover of Everfex, a European foreign exchange brokerage.
The £8 million acquisition represents a significant milestone in Fiinu’s journey towards profitability, coming ahead of the anticipated Q4 2025 launch of its flagship Plugin Overdraft® — a cutting-edge Banking-as-a-Service (BaaS) solution. The platform enables customers to access overdraft facilities without switching their existing bank or eMoney accounts, providing mainstream credit access, improving credit scores, and helping users avoid costly late payment fees.
As part of the deal, Everfex has been rebranded as Fiinu Brokerage, enhancing the company’s fintech capabilities and delivering immediate commercial momentum through Everfex’s established European operations.
Everfex focuses exclusively on offering currency risk management services to Polish import and export companies, targeting the underserved Polish SME sector. It distinguishes itself by offering SMEs competitive foreign exchange spreads, greater flexibility, and swift responsiveness to client needs.
The business has demonstrated year-on-year growth in revenue and profitability, primarily driven by the expansion of its client base and improved operational efficiency. It executed over $1 billion in spot, swap, and forward contracts traded in 2024.
Everfex rebranded as Fiinu Brokerage
As part of the acquisition, Everfex has been rebranded as Fiinu Brokerage. The deal also includes a possible earnout for the owners of Everfex, conditional on its order book surpassing £650 million by year-end, payable in new equity at 20 pence per new ordinary share.
CEO Dr Marko Sjoblom commented:
“Fiinu Brokerage is a transformational addition, taking Fiinu from a pre-revenue to a revenue-generating business, setting a clear path toward Fiinu Plc’s profitability, which is powered by two core products. Through this acquisition, we gain immediate access to the Polish market, the fastest-growing economy in Europe, via a product designed to serve over 150,000 importers and exporters.
“In addition, the brokerage opens up future opportunities in areas like trade finance, crypto-to-fiat trading, and potentially funding our growing order book through a digital asset treasury strategy.”
Karol Oleksa, CEO of Fiinu Brokerage, commented:
“Our rapid expansion across Eastern Europe and strong profitability are a testament to the strength of our brokerage model. As part of the Fiinu Plc group, we can supercharge our growth strategy by addressing margin capital limitations, by pushing forward with product diversification and by expanding our services into new regions in Europe.”
