London-listed FinTech Fiinu Plc, the developer of the Plugin Overdraft® platform, has announced plans for a reverse takeover of Everfex, a profitable foreign exchange brokerage, in a deal valued at up to £12 million.
The acquisition is designed to provide Fiinu with an immediate revenue stream and accelerate its commercial momentum ahead of the planned launch of its flagship overdraft product later this year.
Everfex, which processed more than $1 billion worth of spot, swap, and forward contracts in 2024, reported profit before tax of more than £600,000 in the first four months of 2025. The brokerage has also experienced rapid growth in its small and mid-sized enterprise (SME) client base, expanding by 1,300% in 2024.
Poland, one of Europe’s fastest-growing economies, represents Everfex’s strongest market, with a client base of over 2,500 businesses. Under the acquisition terms, Everfex’s current owners may also receive an earnout in new Fiinu shares if the brokerage’s order book surpasses £650 million by year-end 2025.
The transaction expands Fiinu’s scope beyond its Banking-as-a-Service (BaaS) model, adding a profitable brokerage business with a strong regional footprint. Fiinu confirmed that the Plugin Overdraft® remains on track to launch in the UK in Q4 2025, in partnership with a UK bank, while the firm is also in discussions with other institutions interested in its AI-powered underwriting engine.
Fiinu CEO Marko Sjoblom described the acquisition as a transformational step:
“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 welcomed the partnership, highlighting the growth potential:
“Joining Fiinu will mark an exciting new chapter for Everfex. Our rapid expansion in Poland and strong profitability demonstrate the strength of our brokerage model. 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 intelligent and inclusive financial services.”
