Multitude SE explained

Multitude SE (formerly Ferratum) is a European lender headquartered in Helsinki, Finland.

Company History

Multitude was founded in 2005 by Jorma Jokela, who has been its CEO since the company's foundation.^{[1] [2]} Multitude was listed on the Frankfurt Stock Exchange on February 6, 2015.^[3]

Commerce Commission court case

In June 2020, Multitude settled a claim over alleged breaches of the lender responsibility principles in New Zealand, distributing a total of $88,173 in borrowing costs across 46 customers.^[4] In 2021, the Australian Securities and Investments Commission said that Ferratum Australia had charged illegal fees and overcharged some customers who paid their loan early.^{[5] [6]} On April 4, 2023, Ferratum Australia's shareholders voted to enter liquidation.^[7]

External links

• Multitude

Notes and References

1. Web site: Ferratum Oyj (FRU.DE). Reuters. https://web.archive.org/web/20170728183900/https://www.reuters.com/finance/stocks/companyOfficers?symbol=FRU.DE . 2017-07-28 .
2. Web site: Multitude SE (FRU.DE) Latest Press Releases & Corporate News - Yahoo Finance . 2023-05-31 . finance.yahoo.com . en-US.
3. News: April 6, 2017 . FERRATUM OYJ: Stock Exchange Release . GlobeNewsWire . June 17, 2017.
4. News: 2020-06-30 . High Cost lender Ferratum admits responsible lending breaches . 2023-05-31 . Mirage News . en-AU.
5. Web site: 2021-11-01 . ASIC commences proceedings against Ferratum Australia for charging prohibited credit fees . 2023-05-31 . Mirage News . en-AU.
6. 21-287MR ASIC commences proceedings against Ferratum Australia for charging prohibited credit fees . 1 November 2021. 2023-05-31 . . en.
7. Web site: Notice Details . 2023-05-31 . . en.