Financial institution Fiinu set to purchase profitable foreign exchange brokerage company, in prelude to the rollout of Plugin Overdraft® service.
Fiinu Plc, a London-listed fintech company, has announced a proposed reverse takeover of Everfex P.S.A., a profitable foreign exchange (FX) brokerage. This acquisition is transformational for Fiinu, shifting the company from a pre-revenue fintech into a revenue-generating business.
Financial Details
Everfex completed over $1 billion in FX contracts during 2024, including spot, swap, and forward contracts. In the first four months of 2025, Everfex reported an unaudited profit before tax of approximately £600,000 (PLN 3,147,690). Everfex’s client base grew dramatically by 1,300% in 2024, with around 2,500 clients especially concentrated in Poland.
The acquisition may include an earnout based on Everfex surpassing an order book of £650 million, payable in Fiinu equity at 20p per new share.
Market Presence
Everfex is well established in Poland, Europe’s fastest-growing economy, providing a strong SME client base and presenting a significant growth opportunity for Fiinu. Fiinu’s main operation is in the UK with its fintech product Plugin Overdraft®, an Open Banking service to enable overdrafts without changing the customer’s bank. The acquisition broadens Fiinu’s footprint into the foreign exchange brokerage market with an already profitable and scalable business.
Impact on Fiinu’s Future
The deal moves Fiinu from a loss-making, pre-revenue status to a revenue-generating company, with a clear pathway to profitability tied into its Plugin Overdraft® launch later in 2025. Expected to enhance Fiinu’s financial stability by adding a robust revenue stream and client base, the acquisition aligns with Fiinu’s fintech growth plan and diversification into FX brokerage, supporting its long-term expansion and shareholder value creation.
The acquisition involves related party transactions and new service agreements, including long-term incentives for Fiinu’s CEO, reflecting confidence in management’s role post-acquisition.
Strategic Appointments
Sami Kalliola has been appointed as Chief Strategy Officer, joining both the executive team and Fiinu Plc board as executive director. Mark Wallace, former Chief Risk Officer at UBS Investment Bank, joins Fiinu Plc as Independent Non-Executive Director and Chair of both Everfex and the Group Risk Committee.
Executive Comments
Karol Oleksa, CEO of Everfex, expresses excitement about joining Fiinu Plc, highlighting Everfex’s strong profitability and rapid expansion in Poland as testaments to its brokerage model. Karol Oleksa emphasizes the partnership’s goal of building the infrastructure for the next generation of accessible and intelligent financial services. He sees potential for further scaling with Fiinu’s visionary approach and technology.
Karol Oleksa also emphasizes the potential for the partnership to empower businesses and consumers across Europe with more transparent, inclusive financial tools.
In summary, Fiinu’s acquisition of Everfex for up to £12 million—backed by strong financials and a rapidly growing client base in Poland—is a key strategic move positioning Fiinu for sustained revenue growth and profitability, ahead of its Plugin Overdraft® product launch in Q4 2025.
