Multitude SE

Multitude SE (formerly Ferratum) is a European lender headquartered in Helsinki, Finland.

Multitude SE

Company type	Public company
Industry	Financial services
Founded	May 1, 2005; 20 years ago (2005-05-01)
Founder	Jorma Jokela
Headquarters	Helsinki , Finland
Key people	Jorma Jokela, CEO
Products	Mobile Banking, SME Loans, Consumer Loans
Brands	Multitude, SweepBank, CapitalBox and Ferratum
Website	multitude.com

Company History

Multitude was founded in 2005 by Jorma Jokela, who has been its CEO since the company's foundation.^[1][2] Multitude was listed on the Frankfurt Stock Exchange on February 6, 2015.^[3]

Commerce Commission court case

In June 2020, Multitude settled a claim over alleged breaches of the lender responsibility principles in New Zealand, distributing a total of $88,173 in borrowing costs across 46 customers.^[4] In 2021, the Australian Securities and Investments Commission said that Ferratum Australia had charged illegal fees and overcharged some customers who paid their loan early.^[5][6] On April 4, 2023, Ferratum Australia's shareholders voted to enter liquidation.^[7]

Operations

As of 2024, the Multitude Group’s business consisted of three divisions: Ferratum (consumer banking), CapitalBox (SME banking), and Wholesale Banking. The SweepBank mobile banking app, which previously operated as a separate unit, was integrated into Ferratum and CapitalBox.

In 2024, Ferratum provided consumer loans in Finland and 12 other European countries.

CapitalBox offered loans and financial services to SMEs in Finland and four other countries in 2024.

Wholesale Banking, established in 2024, operates under the Multitude Bank brand. The division provides secured debt financing as well as payment solutions to other banks and payment institutions.