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Multitude SE Financial Results H1 2023 | Stellar Growth & Future Vision with IR



Lasse Mäkelä, the Chief Strategy and IR Officer at Multitude SE delved deep into the company’s robust financial performance in the first half of 2023.


Among the standout figures, a 66% surge in EBIT, amounting to €20.9 million, and a massive 251% increase in profits, hitting €7.5 billion, took centre stage. These numbers echo the company’s financial prowess and reinforce their alignment with the ambitious €45 million EBIT goal set for 2023.


Founded in Finland in 2005, Multitude SE has come a long way. Still rooted in Helsinki, where its headquarters remain, the company today boasts an EU-wide banking license, a dedicated team of around 700 professionals scattered across 18 countries, and an impressive client base nearing the 400,000 mark. The firm’s upward trajectory can also be gauged by its 2022 turnover, a cool €212 million.

The video further shed light on the core business units driving Multitude’s operations:

Sweep Bank: A nexus for shopping and financing, contributing 6% to the company’s sales.

Ferratum: A consumer lending behemoth spanning 14 countries and responsible for 84% of sales.

Capital Box: Specializing in SME lending, it chips in with 10% of sales.


Lasse introduced the audience to the newly launched Warehouse Lending initiative as a testament to Multitude’s ever-evolving nature. Tailored for non-bank fintech lenders in Europe, this venture has already shown early signs of success. In another strategic move, the acquisition of a 19.97% share in Sortter, a Finnish Financial Services comparison platform, marked Q2 2023.


Peeling back the financial layers, Multitude’s net revenues climbed 5.8%, culminating at €109.5 million. While there was a 6.5% rise in impairment losses, the company dialled down bank and lending costs by 13%, personnel expenses by 6.4%, and general administrative expenses by 17.4%. Notably, due to fluctuations in market interest rates, finance costs nudged from €9.6 million to €11.6 million.


Wrapping up, Lasse reiterated Multitude’s core vision – to revolutionize financial services through swift, easy-to-use, and sustainable digital innovations.


  • H1 2023 Key Takeaways
  • We have been creating success stories in Fintech for the last two decades
  • We have a clear vision of building the most values financial ecosystem
  • Currently our ecosystem includes three independent business units and our growth platform
  • Multitude group highlights H1 2023 – On Track with EUR 45 Million Ebit Guidance
  • Financial overview : Revenue growth with 66.0% EBIT Increase and 251.0% Profit Increase
  • Segment View – Tribe Performance
  • Impairment losses remain under 4% – Constantly strong asset quality
  • Funding structure and cost of debt capital
  • H1 2023 Key Takeaways



Lasse Mäkelä
Chief Strategy and IR Officer | Multitude SE​



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