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Multitude SE: CapitalBox Launches SME-Focused Collateral Lending
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EQS-Media / 19.02.2024 / 10:00 CET/CEST
Multitude SE: CapitalBox Launches SME-Focused Collateral Lending
Helsinki, 19 February 2024 - Multitude SE, a listed European FinTech
company, offering digital lending and online banking services to consumers,
small and medium-sized businesses, and other FinTechs (ISIN: FI4000106299,
WKN: A1W9NS) ("Multitude" or "Company" or "Group") announces, that its
business unit CapitalBox, the leading FinTech lender for small- and
medium-sized enterprises in Europe, officially launches its new
comprehensive collateral lending program today. These secured instalment
loans are designed to meet the needs of traditionally underserved small- and
medium-sized enterprises throughout Europe. The launch represents a
significant expansion in CapitalBox's lending offerings.
CapitalBox's new collateral lending program provides secured instalment
loans that run from EUR100,000 to EUR1 million - in other words, the kind of
cash infusion and capital SMEs need to expand meaningfully, not just stay
afloat. These loans are instrumental in businesses' ability to make
large-scale purchases such as machinery and other assets required to enter
new markets, develop new products, and meet increased customer demand.
The new lending product combines CapitalBox's existing instalment loan
product - itself already popular with European small business owners - with
an additional real collateral security in order to significantly lower the
unrecoverable default risk. As a result, CapitalBox can now present even
more competitive offers that will both lower APRs and provide greater loan
amounts to high-grade SMEs.
"We've been working towards expanding into collateral lending for some time
now, which is instrumental to our commitment to helping SMEs traditionally
overlooked by conventional banks. We've made these loans as competitive and
customisable as possible, which is exactly in line with our overarching
mission to make lending as seamless as possible for the SMEs we serve. I
predict this will bring more types of SMEs into the CapitalBox fold. We're
ready and waiting to make their lives easier and their businesses more
successful," said Mantvydas tareika, CEO of CapitalBox.
"With the new secured loans from CapitalBox, we are supporting companies at
a time when their access to debt capital is difficult due to the uncertain
economic and political situation and they are suffering from the continuing
high inflation and the economic environment. In addition, the expansion of
our CapitalBox product range is an important step towards more growth and is
part of our new strategy presented last year. This once again underlines our
ambition to grow significantly across all business units of the Multitude
Group in the coming years. At the same time, we are reducing the financial
risk for our company by collateralizing the loans and can thus indirectly
further increase the value for our shareholders," added Jorma Jokela, CEO of
Multitude SE.
In order to acquire these loans, businesses will provide CapitalBox's team
with information about their collateral assets and their company's financial
position. Loans will then be dispersed following the successful verification
of external valuation reports, a manual review conducted by CapitalBox's
internal credit committee, and confirmation by a verified external valuator,
acting here as a secondary safety layer to assure the assumed collateral
value is correct.
As CapitalBox already accepts personal guarantees as collateral, the focus
of this loan product is its newly expanded acceptance of real collateral,
most commonly in the form of industrial property, business premises,
corporate mortgage and transportation, and investment assets.
CapitalBox's collateral loans are competitive and flexible enough to cater
to the specific needs of SMEs throughout Europe. It's not a
one-size-fits-all approach because Europe's SMEs aren't one and the same.
The origination fee is 0.5%, loan terms can be extended up to five years,
and early repayments are possible at any time. Given CapitalBox's emphasis
on flexibility and understanding of how SME leaders operate, residential
real estate such as personal apartments will be accepted. Loan applications
are already being accepted in all the markets of CapitalBox.
Contact:
Lasse Mäkelä
Chief Strategy and IR Officer
Tel.: +41 79 371 34 17
E-Mail: Lasse.makela@multitude.com
About Multitude SE:
Multitude is a listed European FinTech company, offering digital lending and
online banking services to consumers, small and medium-sized businesses, and
other FinTechs overlooked by traditional banks. The services are provided
through three independent business units, which are served by our internal
Banking-as-a-Service Growth Platform. Multitude's business units are
consumer banking (Ferratum), business banking (CapitalBox) and wholesale
banking (Multitude Bank). Multitude Group employs over 700 people in 25
countries and offers services in 16 countries, achieving a combined turnover
of 212 million euros in 2022. Multitude was founded in Finland in 2005 and
is listed on the Prime Standard segment of the Frankfurt Stock Exchange
under the symbol 'FRU'. www.multitude.com
About CapitalBox:
As a leading European FinTech lender for small- and medium-sized
enterprises, CapitalBox provides timely, trusted, and tailored alternative
funding solutions to businesses that form the backbone of the European
innovation economy. Founded in 2015 as part of Multitude Group's growth
platform, the pure FinTech lender provides fully automated online business
loans up to EUR3 million that can be delivered in minutes following a
successful application. CapitalBox's unique business risk assessment
methodology, ability to deliver capital quickly, and emphasis on
personalized service make financing newly feasible for underserved
businesses across the continent. Headquartered in Finland, the lender has
offices in Sweden, Denmark, the Netherlands, and Lithuania, with plans to
expand into more countries in the near future.
Ende der Pressemitteilung
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Emittent/Herausgeber: Multitude SE
Schlagwort(e): Finanzen
19.02.2024 CET/CEST Veröffentlichung einer Pressemitteilung, übermittelt
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Sprache: Deutsch
Unternehmen: Multitude SE
Ratamestarinkatu 11 A
00520 Helsinki
Finnland
E-Mail: ir@multitude.com
Internet: https://www.multitude.com/
ISIN: FI4000106299
WKN: A1W9NS
Börsen: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart, Tradegate Exchange; Stockholm
EQS News ID: 1840005
Ende der Mitteilung EQS-Media
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1840005 19.02.2024 CET/CEST
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Quelle: dpa-AFX
