Fiinu Plc

Equities

IME

GB0033881904

Financial Technology (Fintech)

Market Closed - London S.E. Other stock markets 11:35:18 2024-04-29 am EDT			5-day change	1st Jan Change
0.925 ^GBX	0.00%		0.00%	+42.31%

Apr. 23	EARNINGS: Videndum warns on recovery; AB Dynamics expects profit beat	AN
Jan. 09	Fiinu Says Unaware of Reasons for Share Surge; Talks With Potential Investors Ongoing	MT

Fiinu puzzled by share jump; focus on licence reapplication

January 09, 2024 at 06:48 am EST

Fiinu PLC - Weybridge, England-based digital bank and creator of Plugin Overdraft - Notes the nearly 50% increase to its share price on Tuesday and says it is "not aware of any material commercial or operational reason for the significant increase". The company says that it is engaging with potential investors and will provide updates in due course.

Fiinu says its focus remains on raising the necessary capital to reapply for a banking licence for its subsidiary Fiinu 2. Fiinu 2 had its licence withdrawn in July, and the group now requires between GBP35.0 million and GBP42.0 million for the reapplication process. In December, Fiinu let go of a number of board members in an effort to preserve cash, and intends to undertake a hiring process to ensure "the required level of technological and regulatory readiness" for a banking licence reapplication.

Current stock price: 0.97 pence per share, up 49% in London on Tuesday morning.

12-month change: down 90%

By Hugh Cameron, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about Fiinu Plc

EARNINGS: Videndum warns on recovery; AB Dynamics expects profit beat	Apr. 23	AN
Fiinu Says Unaware of Reasons for Share Surge; Talks With Potential Investors Ongoing	Jan. 09	MT
Fiinu puzzled by share jump; focus on licence reapplication	Jan. 09	AN
Fiinu to Start Hiring Process, Raise Capital Ahead of UK Banking License Reapplication	Dec. 29	MT
Fiinu Confirms CEO's Exit by Year-end; Founder to Take Over	Dec. 29	MT
Fiinu up after board changes to finance banking licence re-application	Dec. 29	AN
Fiinu plc Announces Change in Its Registered Office Address	Nov. 24	CI
Fiinu funding talks fail to progress, plans headcount cuts	23-10-03	AN
FTSE 100 Closes Up, Capping off a Positive Quarter	23-09-29	DJ
Fiinu Group CEO to Exit by Year-end; Founder to Take Helm	23-09-29	MT
Fiinu plc Announces Chief Executive Officer Changes, Effective 31 December 2023	23-09-29	CI
Fiinu plc Announces Board Changes, Effective 31 December 2023	23-09-29	CI
FTSE 100 Closes Down 0.6% on China Woes and Falls in Other Markets After U.S. Fed Minutes	23-08-17	DJ
UK Short-Term Gilt Yields Rise Faster Than Long-Term Gilt Yields	23-08-17	DJ
Fiinu still seeking bank licence application funding as loss widens	23-08-17	AN
Fiinu Plc Reports Earnings Results for the Half Year Ended June 30, 2023	23-08-17	CI
AIM WINNERS & LOSERS: Fiinu plunges on loss of UK banking licence	23-07-12	AN
Fiinu unable to reapply for withdrawn restricted UK banking licence	23-07-12	AN
FTSE 100 Stumbles as Utility Sector Drops on Fears Over Thames Water	23-06-29	DJ
Fiinu CFO Steps Down	23-06-29	MT
Fiinu plc Announces CFO Changes	23-06-29	CI
FTSE 100 Closes Down 0.3% Amid Increasing Concerns of Fed's Rate Hike	23-06-08	DJ
Shell Needs to Build Upstream Longevity	23-06-08	DJ
Fiinu loss balloons amid higher administrative costs	23-06-08	AN
Fintech Fiinu Raises GBP750,000 via Loan Conversion	23-04-28	MT

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Company Profile

Fiinu PLC is a United Kingdom-based financial technology company, which offers Plugin Overdraf, which is an unbundled overdraft solution that allows customers to have an overdraft with Fiinu Bank without changing their existing bank. It is focused on building a Bank Independent Overdraft platform for Fiinu Bank, which promotes its flagship banking product in the United Kingdom, its Plugin Overdraft, which gives consumers access to an overdraft facility without the need to switch banks and current accounts. It also helps to build credit and avoid rejection stress. The underlying Bank Independent Overdraft technology platform is bank agnostic, allowing Fiinu Bank to serve all other banks' customers. Open Banking allows the Companyâs Plugin Overdraft to attach (plugin) to the customer's primary bank account, no matter which bank they may use. Customers can link multiple bank accounts to their overdraft account through Open Banking application programming interfaces (APIs).

Sector

Financial Technology (Fintech)

Calendar

2024-05-24 - Annual General Meeting

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BUY

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Last Close Price

0.00925

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Sector Financial Technology (Fintech) (NEC)

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Financial Technology (Fintech) (NEC)