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Fellow Finance to cooperation with Mobify

15 January 2021 - 14:00

FELLOW FINANCE PLC PRESS RELEASE 15.1.2021 AT 2:00 PM

Fellow Finance and Mobify have started a cooperation in which Fellow Finance provides funding to Mobify's customers' Finance Account.

Mobify’s Finance Account is a funding solution designed for paying bills in the Mobify service. Invoices together form the largest monthly expenditure for a consumer and unforeseen bills may create a surprising funding need. The Finance Account enables a flexible solution to balance monthly expenses. For consumers Mobify provides a comprehensive financial management platform enabling to receive and pay invoices centrally from a single application. The platform also offers other features supporting a consumer’s personal economy to make everyday life easier.

Fellow Finance Plc is a loan-based crowdfunding and peer-to-peer lending platform where lenders and borrowers meet each other securely and digitally. Our core task is to help businesses and people in their everyday financing needs, while providing quality investment targets for our loan investors.

The cooperation provides us an exciting new funding channel to intermediate funding from our loan investors to an even larger number of consumers. The new funding channel supports our objective of providing funding to consumers instantly when need arises and thus to be involved in everyday lives of consumers”, says Teemu Nyholm, CEO of Fellow Finance.

We want to provide our users all the tools they need to manage their personal economies better and the Finance Account brings needed flexibility to pay bills. The product has been well received by our users and through the cooperation we are able to meet the growing demand of the Finance Account”, says Niklas Elomaa, CEO of Mobify Invoices Oy.

Further enquiries

Niklas Elomaa, CEO of Mobify Invoices Oy, [email protected], tel. +358 440 544 703

Teemu Nyholm, CEO of Fellow Finance Plc, [email protected], tel. +358 50 577 1028

Certified advisor, Evli Bank Plc, tel. +358 40 579 6210

Fellow Finance Plc is a loan-based crowdfunding and peer-to-peer lending platform. The company’s mission is to transform the traditional financing and payments to direct transactions between people and businesses. Fellow Finance has intermediated consumer and business financing of more than 700 million euros in Finland, Sweden, Denmark, Germany, Poland and Czech Republic and served more than 900 000 customers. The company is regulated by the Financial Supervisory Authority of Finland as an Authorized Payment Institution and listed on the Nasdaq First North Growth Market Finland. More information: www.fellowfinance.com.

Mobify Invoices Oy has developed the Mobify platform, which offers consumers an application for a comprehensive financial management. The platform offers several services related to personal economy of a consumer such as receiving and paying bills, document management, statistics and other financial support features via online and mobile. Mobify has 34 000 users. Worth of 15 million euros of bills were paid through the platform in 2020. More information: www.mobify.fi.

Provided by: Cision
Nasdaq First North GM (Finland)
Fellow Finance Oyj
Fellow Finance PLC provides crowdfunding and peer-to-peer loan services. The company specialises in offering, to private individuals and businesses and on its crowdfunding platform, financing and investing solutions that are an alternative to traditional bank financing....
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