Fiinu’s Strategic Shift: Transforming Towards Tech-Focused Growth

Immedia ( (GB:BANK) ) has issued an announcement.

Fiinu has announced its final results for the year ended 31 December 2024, highlighting a strategic transformation towards a tech-focused business model after returning its UK banking license in 2023. The company significantly reduced its monthly burn rate and advanced its Plugin Overdraft® technology licensing strategy, signing non-binding Heads of Terms with an independent UK bank and engaging in discussions with other institutions. Fiinu completed a £1.25m equity raise and secured a £511k R&D tax credit, extending its financial runway to mid-2026. The company is focusing on digitally underserved SMEs and financial institutions across Europe, aiming to enhance liquidity and customer engagement. Despite challenges, Fiinu is poised for revenue generation in 2025, with a strategic shift towards licensing and governance improvements positioning it for sustainable growth.

More about Immedia

Fiinu is a fintech group founded in 2017, known for developing the Plugin Overdraft®, an unbundled overdraft solution that allows customers to have an overdraft without changing their existing bank. The technology is bank agnostic, enabling it to serve customers of all banks, and is built around Open Banking, which Fiinu believes enhances competition and innovation in UK banking.

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Technical Sentiment Signal: Hold

Current Market Cap: £20.05M

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