Evli Bank to acquire Fellow Finance for €25m.

Evli Bank, a private bank, agreed to acquire Fellow Finance, a crowdfunding platform, for €25m. The transaction is expected to be completed during the first half of 2022. “The combination of Fellow Finance and Evli will create a unique new bank in Finland. Our future business model will enable us to offer even more comprehensive services to our private and corporate customers, to expand our client base and offer our customers a variety of financing products at highly competitive interest rates. Cooperating with Evli to serve Evli’s customers with respect to deposits combined with the ability to offer competitive interest rates on deposits provides a solid foundation to increase the bank’s deposited assets. Our digital and customer-oriented service model, operative efficiency and credit risk management expertise as well as our existing extensive customer base will enable profitable future growth for Fellow Bank,” Teemu Nyholm, Fellow Finance CEO.