Fiinu (LSE: BANK), a fintech firm listed in London, announced its first profitable month in November 2025, following the acquisition of Everfex. This achievement marks a significant milestone for the company. However, Fiinu warns that its monthly financial performance may vary as it aims for consistent profitability.
After acquiring Everfex for up to £12 million, Fiinu expanded its operations beyond its primary Plugin Overdraft product. Everfex, which conducted over $1 billion in foreign exchange transactions for Polish small and medium-sized enterprises, provided immediate revenue but also led to management challenges. Consequently, Fiinu replaced the Polish unit’s leadership.
Karol Oleksa and Marta Oleksa were replaced by Dr. Marko Sjoblom, the founder and CEO of Fiinu, and Adam Narczewski, a senior executive officer. Fiinu’s board described these appointments as a “material strengthening” of executive competency and governance standards compared to their predecessors.
Following the leadership change, Fiinu issued formal non-compete breach notices to the former executives, alleging violations of the share purchase agreement. This case is currently in pre-trial proceedings. Fiinu has emphasized the need to protect shareholder interests and uphold contractual commitments, though it has not disclosed details of the alleged breaches.
David Hopton, Fiinu’s chairman, explained that the leadership changes resulted from a governance and compliance review conducted in the fourth quarter. He stated, “As the Executive and Board undertook this work, it became apparent that changes in the management structure were likely to accelerate the integration of Everfex into the Group culture and discipline.”
As Fiinu prepares to launch its Plugin Overdraft product in partnership with Conister Bank, part of Manx Financial Group, it faces a tightening cash position. The company concluded 2025 with approximately £5.34 million in cash, with a monthly expenditure of under £200,000, excluding exceptional items. Cost reductions and operational adjustments have been implemented across the group, including in the Polish subsidiary.
The upcoming Plugin Overdraft, set to launch in early 2026, allows customers to add an overdraft facility to existing bank accounts without changing providers. Fiinu secured £1.4 million from Luxembourg-based QVP Fund in September to support working capital for this rollout. The product represents Fiinu’s strategic move to unbundle credit services from traditional accounts. Initially, Conister will offer it to the one million customers of Payment Assist Limited before broadening access in the UK and Isle of Man.
Everfex contributed over £600,000 in pre-tax profit during the four months ending April 2025. Specializing in currency risk management for Polish import and export firms, Everfex’s competitive pricing and quick response times significantly expanded its SME client base by 1,300% in 2024. The acquisition has provided Fiinu with immediate access to Poland’s expanding economy and a platform to introduce its banking technology.
Despite the integration challenges leading to leadership changes and legal actions, Fiinu’s board remains optimistic about the profitability milestone. Hopton stated, “Together with the acquisition of Everfex, and our careful management of the cost base, Fiinu has achieved a major milestone in 2025 in recording its first profitable month.”
As Fiinu moves forward, it navigates the complexities of integrating new acquisitions while focusing on its product launch. The unfolding legal proceedings and upcoming product launch are critical areas to monitor in the coming months.
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