08 sep 25   fiinu plc - half-year results for the 6 months to 30 june 2025 fiinu plc | bank | 15.0 0 0.0% | mkt cap: 57.8m    rns number : 3049y fiinu plc 08 september 2025    08 september 2025   this announcement contains inside information as stipulated under the uk version of the market abuse regulation (eu) no. 596/2014 which is part of english law by virtue of the european (withdrawal) act 2018, as amended. on publication of this announcement, this information is considered to be in the public domain.   fiinu plc ("fiinu" or the "company" or the "group") half-year results for the six months ended 30 june 2025     fiinu, a fintech group, creator of the plugin overdraft®, and recently re-admitted to trading on the aim following the acquisition of everfex p.s.a., announces its unaudited half-year results for the six months ended 30 june 2025.   business highlights   ·   white-labelled plugin overdraft® partnership: in january 2025, the company announced non-binding heads of terms for its first white-label deal with a uk bank, providing an ai-driven banking-as-a-service (baas) platform that includes its plugin overdraft®. the platform will integrate with the bank's existing systems, marking a key milestone in fiinu's growth. the uk bank is expected to launch this product in q4 2025. ·    capital raised through share issuance: in february 2025, the company raised £1,250,000 by issuing 12.5 million new ordinary shares at an issue price of 10 pence each. the funds being used to further develop the plugin overdraft® as a white-label product and to support working capital needs. ·    software reactivation: in march 2025, the company reactivated core banking services provided by tuum supporting the white-label plugin overdraft® alongside building in-house developer capacity. ·   strategic focus: while costs increased in the first half of the year, driven by efforts to complete the acquisition of everfex psa and the re-admission to trading on aim, both milestones were successfully achieved in august 2025, positioning the group for the next phase of growth. post period end highlights   ·    completed the acquisition of everfex p.s.a.: in august 2025, the company completed the acquisition of everfex p.s.a. from granicus holdings ou, for an initial consideration of £8 million, to be satisfied through the issue of 80,000,000 new ordinary shares, at a price of 10p per new ordinary share. additional consideration of £4 million may be payable after 1 january 2026 if everfex achieves certain performance criteria, which would be satisfied through the issue of 20,000,000 additional new ordinary shares at an issue price of 20p per new ordinary share. this acquisition constituted a reverse takeover under the aim rules and was approved by shareholders in a general meeting on 26 august 2025. ·    capital raised through acquisition: in august 2025, the company successfully raised approximately £0.8 million through a conditional cash subscription via the issuance of 8,010,000 new ordinary shares at an issue price of 10 pence per share, as part of the everfex p.s.a. acquisition. ·    diversified corporate leadership: in august 2025, the group announced the appointments of two new plc directors and two senior managers, alongside changes to the cfo position. these appointments enhance the breadth and depth of financial services expertise across the group. ·  capital raised through subscription: in september 2025, the company entered into subscription agreements to raise £1.4 million by issuing new ordinary shares at an issue price of 15 pence per share, reflecting a 50% premium to the subscription price announced on 6 august 2025. ·    warrant overhang settlement: in september 2025, the company reached a mutual agreement with gem to terminate the gem facility, including outstanding warrants through the issuance of "settlement shares," resulting in a termination payment of £1.15 million, satisfied by the issuance of 7,666,667 new ordinary shares in the company at 15 pence per share and reducing the existing overhang on fiinu's capital structure   financial highlights ·    as at 30 june 2025 the company's cash balance was £643,490. ·    the loss before tax for the period was £980,338.  this reflects the increased costs associated with the development of the white-label solution and the preparatory work for the everfex p.s.a. acquisition. dr marko sjoblom, fiinu's chief executive said: "the first half of 2025 has been a defining period for fiinu, during which we made significant progress on our core strategic priorities. most notably, we advanced the implementation of the white-label arrangement announced in january, expanding the reach of our plugin overdraft® product and successfully raised capital to support the product development . these initiatives underline our commitment to delivering scalable, technology-led financial solutions to the market. "despite the challenges of operating with limited capital and human resources, our leadership team-supported unwaveringly by the board remained firmly focused on our long-term strategy. by prioritising disciplined allocation of resources and aligning every decision with our growth objectives, we continued to make tangible progress across key initiatives. this resilience demonstrates our determination to build a scalable and sustainable business for the future. "looking ahead, my overriding objective-aligned with my proposed long-term incentive arrangements-is to deliver a step-change in shareholder value by increasing our share price to 110 pence and market capitalisation to £440 million over the next 36 months. while ambitious, this target reflects my confidence in the strategic path we have set and our ability to execute the initiatives required to unlock meaningful value creation for our shareholders."   key financials highlighted below are the key unaudited financial highlights for the six months to 30 june 2025, compared to the six months to 30 june 2024 and the audited year ending 31 december 2024.  unaudited half year to 30 jun 2025 £ unaudited half year to 30 jun 2024 £ audited year to 31 dec 2024 £ revenue - - - gross profit - - - administrative expenses (1,501,429) (238,606) (700,645) investment revenues / cost - - - other income 517,406 - - net finance cost / income 3,685 433 577 loss before taxation (980,338) (238,173) (700,068) income tax income - - - loss and total comprehensive income (continuing operations) (980,338) (238,173) (700,068) fair value adjustments - - - impairment of investments - - - total loss and total comprehensive income (980,338) (238,173) (700,068)   earnings per share    basic (0.0035) (0.001) (0.25) diluted (0.0035) (0.001) (0.25)   enquiries:  fiinu plc marko sjoblom, chief executive officer www.fiinu.com via brazil london (press office for fiinu) spark advisory partners limited (nomad) mark brady / jade bayat tel: +44 (0) 203 368 3550 sp angel corporate finance llp (joint broker) bruce fraser/ezgi senturk tel: +44 (0) 207 470 0470 oberon capital limited (joint broker) nick lovering /adam pollock/mike seabrook tel: +44 (0)203 179 5355 brazil london (press office for fiinu) joshua van raalte / christine webb / jamie lester tel: +44 (0) 207 785 7383   for more information, please visit www.fiinu.com  consolidated statement of comprehensive income   unaudited half year to 30 jun 2025 £ unaudited half year to 30 jun 2024 £ audited year to 31 dec 2024 £ revenue - - - gross profit - - - administrative expenses (1,501,429) (238,606) (700,645) investment revenues / cost - - - other income 517,406 - - net finance cost / income 3,685 433 577 loss before taxation (980,338) (238,173) (700,068) income tax income - - - loss and total comprehensive income (continuing operations) (980,338) (238,173) (700,068) fair value adjustments - - - impairment of investments - - - total loss and total comprehensive income (980,338) (238,173) (700,068)   earnings per share    basic (0.0035) (0.001) (0.25) diluted (0.0035) (0.001) (0.25)        consolidated statement of financial position       notes 30 june 2025 (unaudited) £ 30 june 2024 (unaudited) £ 31 dec 2024 (audited) £ assets    non-current assets    intangible assets - - - property, plant and equipment 1,197 - -  1,197 - - current assets    trade and other receivables 51,633 64,386 48,811 current tax recoverable - - - cash and cash equivalents 643,490 691,280 355,932  695,123 755,666 404,743 total assets 696,320 755,666 404,743 liabilities    non-current liabilities    lease liabilities - - -  - - - current liabilities    trade and other payables 300,965 144,371 279,050 lease liabilities - 23,707 -  300,965 168,078 279,050 total liabilities 300,965 168,078 279,050 capital and reserves    called up share capital 28,724,724 27,474,724 27,474,724 share premium 9,475,486 9,475,486 9,475,486 own shares (5,100) (5,100) (5,100) merger reserve (21,120,782) (21,120,782) (21,120,782) shares to be issued 50,000 50,000 50,000 retained losses (16,728,973) (15,286,740) (15,748,635) total equity 395,355 587,588 125,693 total equity and liabilities 696,320 755,666 404,743  consolidated statement of cash flows       notes 6 months ended 30 june 2025 (unaudited) £ 6 months ended 30 june 2024 (unaudited) £ 12 months ended 31 dec 2024 (audited) £ cash flows from operating activities    cash absorbed by operations (1,482,228) (585,841) (897,626) income taxes refunded 517,406 - - net cash outflow from operating activities (964,822) (585,841) (897,626) investing activities    purchase of property, plant and equipment (1,305) - - interest received 3,685 2,013 2,216 net cash generated from investing activities 2,380 2,013 2,216 financing activities    proceeds from issue of shares 1,250,000 - - proceeds from borrowings - - - repayment of borrowings - - - payment of lease liabilities - (34,069) (57,776) interest paid - (1,580) (1,639) net cash generated from financing activities 1,250,000 (35,649) (59,415) net increase/(decrease) in cash and cash equivalents 287,558 (619,477) (954,825) cash at beginning of period 355,932 1,310,757 1,310,757 cash at end of period 643,490 691,280 355,932   consolidated statement of changes in equity attributable to equity shareholders of the company   called up share capital   £ share premium       £ revaluation/  merger reserve/ shares to be issued     £ retained earnings       £ total         £ balance at 31 december 2024 27,474,724 9,475,486 (21,075,882) (15,748,635) 125,693 period ended 30 june 2025      loss and total comprehensive income for the period   1,250,000     -   -   (980,338)   269,662 issue of share capital - - - - - balance at 30 june 2025 28,724,724 9,475,486 (21,075,882) (16,728,973) 395,355    notes to the financial statements   financial information contained in this document does not constitute statutory accounts within the meaning of section 434 of the companies act 2006 ("the act").   the statutory accounts for the year ended 31 december 2024 have been filed with the registrar of companies. the report of the auditors confirmed that the financial statements: ·    give a true and fair view of the state of the group's and of the parent company's affairs as at 31 december 2024 and of the group's loss for the period then ended; ·    have been properly prepared in accordance with uk-adopted international accounting standards and, as regards the parent company financial statements, as applied in accordance with the provisions of the companies act 2006; and ·    have been prepared in accordance with the requirements of the companies act 2006.   the auditors conducted the  audit in accordance with international standards on auditing (uk) (isas (uk)) and applicable law. the financial information for the six months ended 30 june 2025 and 30 june 2024 is unaudited. this announcement was approved by the board on 05 september 2025. 1.    reporting entity   fiinu plc (the "company" or, the "group") is a public company limited by shares incorporated in england and wales. the registered office is ibex house, baker street, weybridge, kt13 8ah. the consolidated financial statements of the company as at 30 june 2025 and for the six months ended 30 june 2024 comprise the company and its subsidiaries (together referred to as the "group").   fiinu plc is a publicly listed company on the aim market of the london stock exchange, bringing together bank-grade technology, with its plugin overdraft®, a technical open banking-enabled baas solution, coupled with a growing fx arm, acquired after the end of the half-year in august 2025, with strategic plans to expand its presence and product offerings in the financial services sector.   2.    basis of preparation   the consolidated financial information has been prepared in accordance with uk adopted international accounting standards. the consolidated financial statements are presented in pounds sterling, the functional currency of the company and presentation currency of the group. the interim financial information is made up to 30 june 2025. where necessary, adjustments are made to the financial information of subsidiaries to bring the accounting policies used into line with those used by other members of the group.   all intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.   subsidiaries are consolidated in the group's financial statements from the date that control commences until the date that control ceases.   acquisitions are accounted for using the acquisition method. the cost of an acquisition is measured at fair value at the date of exchange of the consideration. identifiable assets and liabilities of the acquired business are recognised at their fair value at the date of acquisition. to the extent that the cost of an acquisition exceeds the fair value of the net assets acquired the difference is recorded as goodwill. where the fair value of the net assets acquired exceeds the cost of an acquisition the difference is recorded in profit and loss. the group has chosen not to adopt ias 34 "interim financial statements" in preparing the interim financial information.   3.    significant accounting policies the accounting policies set out in detail in note 2 of the group's consolidated financial statements to 31 december 2024 have been applied consistently to these unaudited financial statements to 30 june 2025. there are no new standards or amendments to standards which are material to the accounts for the half-year ended 30 june 2025.   4.    events in the six months ended 30 june 2025   ·   white-labelled plugin overdraft® partnership: in january 2025, the company announced non-binding heads of terms for its first white-label deal with a uk bank, providing an ai-driven banking-as-a-service (baas) platform that includes its plugin overdraft®. the platform will integrate with the bank's existing systems, marking a key milestone in fiinu's growth. the uk bank is expected to launch this product in q4 2025. ·   capital raised through share issuance: in february 2025, the company raised £1,250,000 by issuing 12.5 million new ordinary shares at an issue price of 10 pence each. the funds being used to further develop the plugin overdraft® as a white-label product and to support working capital needs. ·   software reactivation: in march 2025, the company reactivated core banking services provided by tuum supporting the white-label plugin overdraft® alongside building in-house developer capacity. ·    strategic focus: while costs increased in the first half of the year, driven by efforts to complete the acquisition of everfex psa and the re-admission to trading on aim, both milestones were successfully achieved in august 2025, positioning the group for the next phase of growth.     5.    share capital   allotted, issued and fully paid:   number of shares nominal value   £ ordinary shares with nominal value of £0.10 per share as at: 31 december 2024 274,747,246 27,474,724 issued in the half year 12,500,000 1,250,000 30 june 2025 287,247,246 28,724,724   there are no restrictions on the transfer of shares in fiinu plc. all shares carry equal voting rights.  6.    post period end events   ·    completed the acquisition of everfex p.s.a.: in august 2025, the company completed the acquisition of everfex p.s.a. from granicus holdings ou, for an initial consideration of £8 million, to be satisfied through the issue of 80,000,000 new ordinary shares, at a price of 10p per new ordinary share. additional consideration of £4 million may be payable after 1 january 2026 if everfex achieves certain performance criteria, which would be satisfied through the issue of 20,000,000 additional new ordinary shares at an issue price of 20p per new ordinary share. this acquisition constituted a reverse takeover under the aim rules and was approved by shareholders in a general meeting on 26 august 2025. ·   capital raised through acquisition: in august 2025, the company successfully raised approximately £0.8 million through a conditional cash subscription via the issuance of 8,010,000 new ordinary shares at an issue price of 10 pence per share, as part of the everfex psa acquisition. ·    diversified corporate leadership: in august 2025, the group announced the appointments of two new plc directors and two senior managers, alongside changes to the cfo position. these appointments enhance the breadth and depth of financial services expertise across the group. ·   capital raised through subscription: in september 2025, the company entered into subscription agreements to raise £1.4 million by issuing new ordinary shares at 15 pence per share, reflecting a 50% premium to the subscription price announced on 6 august 2025. ·   warrant overhang settlement: in september 2025, the company reached a mutual agreement with gem to terminate the gem facility, including outstanding warrants through the issuance of "settlement shares," resulting in a termination payment of £1.15 million, satisfied by the issuance of 7,666,667 new ordinary shares in the company at 15 pence per share and reducing the existing overhang on fiinu's capital structure   7.    earnings per share       unaudited half year 2025 number   unaudited half year 2024 number   full year audited 2024 number basic             weighted average number of ordinary shares in issue   283,863,268   274,747,246   274,747,246 less weighted average numbers of own shares   -   -   - weighted average number of shares in issue for basic earnings per share     283,863,268     274,747,246     274,747,246     the basic and diluted earnings per share are calculated using the after tax loss attributable to equity shareholders for the financial period of £980,338 (30 june 2024: loss £238,173; 31 december 2024: loss £700,068) divided by the weighted average number of ordinary shares in issue in each of the relevant periods: 30 june 2025: 283,863,268 shares (30 june 2024: 274,747,246 shares and 31 december 2024: 274,747,246). for the year-ended 31 december 2024 there was no movement on the number of shares in issue. during the half-year period to 30 june 2025, 12,500,000 shares were issued by the group. for the period to 30 june 2025 and the year to 31 december 2024 and period to 30 june 2024 and in accordance with ias 33, the diluted loss per share is stated as the same amount as basic as there is no dilutive effect.   forward looking statements this document contains certain forward-looking statements which reflect the knowledge and information available to the company during the preparation and up to the publication of this document. by their very nature, these statements depend upon circumstances and relate to events that may occur in the future thereby involving a degree of uncertainty. although the group believes that the expectations reflected in these statements are reasonable, it can give no assurance that these expectations will prove to have been correct. given that these statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by these forward- looking statements.   the group undertakes no obligation to update any forward-looking statements whether 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