In this comprehensive video presentation, Lasse Mäkelä, the Chief Strategy and IR Officer at Multitude SE, delineates the groundbreaking journey and current robust standing of the fintech firm, which prides itself on being a trailblazer in the industry for over two decades. With its inception in Finland in 2005, Multitude has blossomed into a flourishing entity with an impressive turnover of 212 million euros in 2022. This figure speaks volumes about its steady growth and commitment to financial innovation.
Diving deep into the company’s ethos, Lasse unravels Multitude’s resolute mission to democratise financial services through significant digitalisation, steering them to be faster, easier to access, and environmentally friendly. The vision is grand – to erect the most valuable financial ecosystem, a vision fostered through unyielding growth even in the face of the COVID-19 pandemic. Despite the setbacks during this period, the firm began refining its focus, homing in on the European market and parting ways with non-profitable ventures in Africa and Asia.
Much of the presentation is devoted to a meticulous breakdown of Multitude’s intricate structure, which stands on a potent growth platform buttressed by the Multitude Bank. This structural behemoth encompasses technological and regulatory expertise and fosters cross-selling opportunities between various business units. This growth platform breeds a synergistic environment, fostering cooperation and unified growth across all units.
Lasse takes us through a guided tour of the three pillars representing Multitude’s diverse business units, each catering to a unique market segment and operating in different European countries:
This unit is a powerhouse in consumer lending, holding the largest share in sales and loan portfolios. It is a beacon for individuals facing unplanned financial needs, offering products, including microloans and credit limits akin to credit cards. What sets it apart is its heavily digitalised and automated customer service experience.
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Positioned as a leader in the online lending platform for SMEs, it offers a rich product line, including instalment loans and credit lines for working capital. The recent introduction of secured loans, backed by substantial securities like real estate, manifests its innovative approach to lending, aiming to fill the sizable funding gap in the European SME sector.
The family’s youngest member, it is a neo-bank app serving a dual role as a shopping and financing application. Despite being in the reorganisation phase, it has set ambitious goals, focusing primarily on Latvia’s prime loan market and Finland’s credit card business. It has a road map set for profitability by next year.
Closing the presentation, Lasse highlights the firm’s advantageous positioning in the diversified European fintech market. Leveraging full access to deposit funding, Multitude is a fortified player, ready to harness its synergistic growth platform and varied customer segments to pioneer the next wave of fintech solutions.
This detailed walkthrough not only underlines Multitude SE’s formidable presence in the fintech space but also shines a light on its future — a future geared towards sustainable and inclusive financial solutions that are both green and digital, promising a revolution in the financial ecosystem, steered by expertise honed over decades. It’s not just a presentation but an open invitation to witness and participate in a financial revolution rooted in expertise, innovation, and a vision grounded in reality.