Multitude SE (formerly Ferratum) is a European lender headquartered in Helsinki, Finland.
Company History
Multitude was founded in 2005 by Jorma Jokela, who has been its CEO since the company's foundation. Multitude was listed on the Frankfurt Stock Exchange on February 6, 2015.
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. 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. On April 4, 2023, Ferratum Australia's shareholders voted to enter liquidation.