The company reported a loss before tax of £980,338, reflecting increased costs
LONDON: Fiinu Plc, the fintech group behind the Plugin Overdraft® and recently re-admitted to trading on AIM following its acquisition of Everfex P.S.A., on Monday announced its unaudited half-year results for the six months ended June 30, 2025, underscoring strategic momentum and capital-raising initiatives.
The company reported a loss before tax of £980,338, reflecting increased costs tied to the development of its white-label Plugin Overdraft® solution and preparatory work for the Everfex acquisition. Cash reserves stood at £643,490 at the end of the period.
Among key business highlights, Fiinu advanced its first white-label partnership with a UK bank, integrating its AI-driven Banking-as-a-Service (BaaS) platform, including the Plugin Overdraft®, into the bank’s systems. The product is expected to launch in Q4 2025.
In February, Fiinu raised £1.25 million through the issuance of 12.5 million new ordinary shares at 10 pence each, earmarked for product development and working capital. March saw the reactivation of core banking services via Tuum, supporting the white-label rollout and internal tech capacity.
Post-period, Fiinu completed the £8 million acquisition of Everfex P.S.A. in August, issuing 80 million new shares at 10 pence each. A further £4 million in contingent consideration may be issued in 2026, subject to performance targets. The transaction constituted a reverse takeover under AIM rules and was approved by shareholders.
Additional capital raises followed, including £0.8 million in August and £1.4 million in September through share subscriptions, the latter priced at a 50% premium. Fiinu also settled its GEM Facility in September, issuing 7.67 million “Settlement Shares” at 15 pence each to eliminate warrant overhang and streamline its capital structure.
Leadership changes included the appointment of two new plc directors, two senior managers, and a new CFO, enhancing the group’s financial services expertise.
Chief Executive Dr. Marko Sjoblom said the first half of 2025 marked a “defining period” for Fiinu, citing disciplined resource allocation and strategic execution. He reaffirmed his long-term goal to increase the company’s share price to 110 pence and market capitalization to £440 million within 36 months.