Fellow Finance Group 1 January - 31 December 2016
- Fellow Finance Group turnover 5,59 million euros
- Fellow Finance Group profit 0,15 million euros
- Fellow Finance Group own equity 3,1 million euros
2016 was a year of rapid growth for Fellow Finance. The number of platform users grew 220% and the total amount of intermediated consumer and business loans in Finland and Poland was above 50 million euros. This growth resulted in the overall loan volume exceeding 90 million euros which strengthened Fellow Finance’s position as the leader of the crowdfunding platforms in the Nordic countries and with 4,3% market share in continental Europe (source: Liberum Altfi Index). In Finland, Fellow Finance’s market share was over 30% of the whole crowdfunding market (source: Ministry of Finance of Finland). The average of annual yield for investors was 11%.
2016 was the third fiscal year for Fellow Finance and a year of development, growth and improvement of the crowdfunding platform. In 2016 we launched two new products for businesses. Finnish companies can now apply for long term business loans and receive flexible invoice financing on account receivables. The new products got an excellent reception among SMEs and the number of business customers grew significantly in the last quarter of the year. The launch of the new products gave also investors new investing opportunities in Finnish businesses and option to diversify their loan portfolio even further.
Fellow Finance's turnover grew 40% from last year and the operations were profitable. The number of the employees was 15 at the end of the year 2016. The company's plan for year 2017 is to grow the business in Europe and expand the product selection further for both businesses and consumers and to offer even more profitable option for investors in comparison to more traditional investing options.
Fellow Finance Plc
+358 40 585 5009
Fellow Finance - Crowdfunding for People and Businesses
Fellow Finance Oyj is the largest crowdfunding service in the Northern Europe and the first one that offers both peer-to-peer-lending service to consumers and loan-based crowdfunding to companies. Fellow Finance has intermediated loans for over 95 million euros and the service has 160 000 users from 43 countries.
Read more: www.fellowfinance.com