Fiinu Plc, the London-listed FinTech behind the Plugin Overdraft® platform, has announced plans for a reverse takeover of Everfex, a profitable foreign exchange brokerage.
The acquisition, valued at up to £12m, is designed to accelerate Fiinu’s path to revenue as it prepares for the launch of its flagship overdraft product later this year.
The deal is expected to transform Fiinu’s position in the market. Everfex executed more than $1bn worth of spot, swap and forward contracts in 2024, while its unaudited results showed profit before tax of more than £600,000 for the first four months of 2025. The brokerage has also reported rapid growth in its SME client base, which expanded by 1,300% last year.
Everfex’s strongest presence is in Poland, one of Europe’s fastest-growing economies, where it has already built a client base of 2,500 businesses. The acquisition terms include a potential earnout for the current owners, payable in new Fiinu equity, should Everfex’s order book exceed £650m by the end of 2025.
The addition of Everfex broadens Fiinu’s business beyond its Banking-as-a-Service model. The move brings an immediate source of revenue and a strong regional footprint, providing commercial momentum ahead of the planned UK rollout of its Plugin Overdraft®.
Fiinu confirmed that its launch of the Plugin Overdraft® remains on track for Q4 2025, in partnership with a UK bank. The firm is also in discussions with other institutions interested in using its AI-powered underwriting engine, which underpins its Bank Independent Overdraft® model.
Fiinu CEO Dr Marko Sjoblom said, “The proposed acquisition of Everfex represents a significant step forward in Fiinu’s strategic journey, broadening our presence in the foreign exchange market and strengthening our capabilities in serving SME customers across Europe.
“This transaction not only delivers a profitable and scalable business into the Group but also complements our technology-led strategy, particularly as we expand the reach of our Plugin Overdraft® and BaaS offerings. My objective, which is linked to my proposed new long-term incentive arrangements, is to increase the Company’s valuation and share price by 1,000% within the next 36 months. The acquisition of Everfex is the first step toward achieving it.”
Everfex CEO Karol Oleksa added, “Joining Fiinu will mark an exciting new chapter for Everfex. I’m personally thrilled to be part of a company with bold growth ambitions. Like Marko, I come from a background as a former elite athlete, and I’m driven by clear objectives and persistent in achieving them.
“Our rapid expansion in Poland and strong profitability are a testament to the strength of our brokerage model. Now, with Fiinu’s visionary approach and cutting-edge technology, we see immense potential to scale even further. This partnership isn’t just about expanding our service portfolio, it’s about building the infrastructure for the next generation of accessible and intelligent financial services. I’m especially proud that together we’ll empower both businesses and consumers across Europe with more transparent, inclusive financial tools and products.”
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