Fellow Finance Publishes 2016 Financial Information

Fellow Finance Oyj in Helsinki is one of the largest crowdfunding services in Northern Europe offering peer to peer lending for both consumers and SMEs. The alternative finance provider was founded by CEO Jouni Hintikka, COO Teemu Nyholm, and Director Harri Tilev.

To date, Fellow Finance has originated over €95 million in loans with 160,000 users from 43 different countries. The average annual yield for investors during 2016 was pegged at 11%. This week, Fellow Finance published their financial information for the year ending December 2016.

According to Fellow Finance, the company experienced top line revenue of €5.59 million.  The online lender generated a profit of €150,000. Management described 2016 as a period of rapid growth for the P2P lender. The number of platform users grew 220% and the total amount of intermediated consumer and business loans in Finland and Poland topped €50 million. This growth resulted in the overall loan volume exceeding €95 million resulting in a 4.3% market share within continental Europe. Fellow Finance said platform growth strengthened its position as the leading crowdfunding platform in the Nordic countries. In Finland, Fellow Finance’s market share was more than 30% of the whole crowdfunding market (according to the Ministry of Finance of Finland).

2016 was the third fiscal year for Fellow Finance. The company launched two new products: long term business loans and invoice financing on account receivables.

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.

The company’s plan for 2017 is to grow the business across Europe and to expand their portfolio of product offerings for both businesses and consumers.  Fellow Finance publishes a nice statistics page that is said to be updated in real-time here.

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