World News: 15:51 GMT Wednesday 15th May 2019. [Mash Group Oyj via Globe Newswire via SPi World News]
The first quarter of 2019 showed further growth in loan book, revenue, and EBIT, compared to Q1/2018, as Mash continues to execute its growth plan.
James Hickson, CEO of Mash Group outlines the development of the Group during the first quarter:
“We continue to see strong demand for our services particularly with our pay-later solution at point of sale and ecommerce channels, attracting record levels of customers and new merchants. We continue to make investments in our platform to support scalability and interoperability while focusing, critically, on the customer experience. We are focused on long term profitability investing in hiring staff, our culture and our technology platform. Our decisions will continue to be shaped by this philosophy.”
“We see strong demand for consumer lending in 2019, partly driven by regulatory changes in Finland and our investment in our platform and business model”, Hickson continues. “Unlike many of our competitors, we took proactive steps in summer 2017 to pivot our business further away from high fee/high interest products towards a sustainable business model that is focused on generating high quality portfolios. As a result, we are today largely insulated from regulatory changes in Finland and are well positioned to capitalize on the market opportunity as key players depart.”
Tommi Lindfors, Chairman of Mash Group, sees a strategic opportunity in the current market, and so do larger investors. “The field is clearly opening up and market shares are open for the taking, with massive demand growth expected especially through our pay-by-invoice acquisition channels. In our business, the key resource and bottleneck has always been funding. Growth requires additional funding, so we have worked on securing bigger incremental growth in our equity and funding base. Both debt and equity investors clearly like our proven business concept, as we have shown that we can deliver what we promise. We currently have several funding partnership options that have progressed to the point where we are now evaluating term sheets. These are exciting times.”
Mash has been at the forefront of fintech innovation since 2007. We leverage our advanced proprietary algorithms, machine learning capabilities, and automated platform to deliver superior finance and payments solutions to thousands of customers every day. We work hard for a future powered by technology, making every transaction seamless, flexible and worry-free. Today, Mash is one of Europe’s leading fintech companies.
Globe Newswire: 15:51 GMT Wednesday 15th May 2019
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