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Immedia ( (GB:BANK) ) has provided an announcement.
Fiinu Plc has entered into a £2 million unsecured loan agreement with Conister Bank Limited, a subsidiary of Manx Financial Group. The loan, which carries a 10% annual interest rate, can be converted into Fiinu equity, reflecting the strategic partnership between Fiinu and Manx Financial Group. This financial arrangement is set to bolster Fiinu’s capital position and support its growth, particularly in its fast-growing FX brokerage business in Poland. The partnership is also part of Manx Financial Group’s strategy to enhance its lending technology and establish itself as a strategic partner with Fiinu.
More about Immedia
Fiinu Plc is a fintech group known for creating the Plugin Overdraft®. The company operates in the financial technology sector, focusing on innovative financial solutions. Fiinu is actively involved in the FX brokerage market, particularly in Poland, and aims to enhance its market presence through strategic financial partnerships.
Average Trading Volume: 1,065,074
Technical Sentiment Signal: Buy
Current Market Cap: £49.26M
Learn more about BANK stock on TipRanks’ Stock Analysis page.