According to the new strategy, the Group’s business units will gain a more independent role and will consequently be even more closely aligned to their clients and their specific needs. Multitude will concentrate on business-critical operations centrally, with cost advantages derived from delivering greater economies of scale. The strategy and the new role for the Group is also reflected in the new name, Multitude.
The Group acts as an enabler, or a platform, for the business units to flourish. Primelending and the Mobile Wallet business has now been rebranded SweepBank, a brand with a very clear customer focus and an ambition to make its clients’ lives easier. The brand Ferratum is reserved for the Near Prime lending business.
Brand | Products |
Microloan, PlusLoan and Credit Limit | |
CapitalBox | SME lending |
SweepBank | Primeloan and Mobile Wallet |
We have defined clear roles for our tribes. While
Our new brand is an outcome of our revised strategy. The name Multitude clearly emphasises our ability to serve a large number of clients with a broad variety of leading products and services.
We are very excited about our opportunities in Primelending and the Mobile Wallet app, now under the new SweepBank brand. We have identified a very clear target segment for SweepBank, where we see potential to generate not just volume, but high revenues. We also expect strong growth in our SME business, CapitalBox, while at
All in all, the outlook for 2021, and especially 2022 looks positive. The latest economic forecasts from the
Multitude’s strategic priorities, 2021-24:
- Increased autonomy for tribes, with more agile operations and better focus on clients
- Continuous development in our operations with economies of scale benefits at Group level
- Executing operations according to the defined roles for the business units – SweepBank and CapitalBox for growth,
Ferratum for strong profits and cash flows - Looking for expansion opportunities in new markets and through M&A
Financial targets
• Multitude expects revenue growth during second half of 2021 (quarter-on-quarter), and expects all tribes to contribute to growth in 2022
• For the financial year 2021, Multitude expects consolidated EBIT to be at or above
• For the period 2022-2024, Multitude expects profitable growth, reflected in an EBIT growth rate of 50% p.a.
Multitude bases the given forecast on the assumption that there will be no negative soar in new COVID-19 cases in key markets or wide spread government imposed lockdowns.
The company will host a virtual Capital Markets Day event today,
The change in Group name does not have an impact on the company’s
The final decision on the change of the name is subject to approval at the shareholders’ general meeting.
With this release, Multitude publishes inside information.
About Multitude (
As a pioneer in digital and mobile financial services technology,
Contacts:
IR@ferratum.com
https://www.ferratumgroup.com/investors/ir-contact
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