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Fellow Finance Oyj: Changes in loan intermediation in Germany

Fellow Finance has decided to suspend temporarily the intermediation of financing for German customers. The suspension is a precautionary measure and it does not have a significant effect on the total intermediation volume of Fellow Finance.

Wirecard AG - the parent company of the Fellow Finance fronting bank partner Wirecard Bank - has today informed of its application for opening of insolvency proceedings. Wirecard Bank has informed that it is not subject to insolvency proceedings. The funds of customer funds account will be as yet transferred to customer funds accounts in Finnish banks. Fellow Finance follows closely the development of the situation and will, if necessary, initiate process to find a new banking partner for German loans in the future. According to the Fellow Finance there are several potential fronting bank partners in Germany and estimates a suitable fronting bank partner to be found if required.


Further enquiries:

Jouni Hintikka, CEO, Fellow Finance Plc,,+358 40 585 5009

Certified advisor, Evli Bank Plc, tel. +358 40 579 6210

Fellow Finance Plc launched its operations in 2014 and it is an internationally active and growth-oriented FinTech group that provides crowdfunding services for people and businesses. Fellow Finance is the leading¹ Nordic loan-based crowdfunding and peer-to-peer lending platform which has over 850 000 users from around 70 countries. Fellow Finance Plc is regulated by the Financial Supervisory Authority of Finland as an Authorized Payment Institution. Fellow Finance Plc is listed on Nasdaq First North Growth Market Finland and The Company has around 2 500 shareholders.

¹Measured by the amount of financing facilitated. Source: Brismo Market Data (data accessed on 25 June 2020).

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