We advised UK banking startup Fiinu on its proposed reverse takeover acquisition of Everfex, a fast-growing foreign exchange (FX) brokerage. The deal is valued at up to EUR 13 million.
Although reverse takeovers aren’t the most common way to acquire a company, they can be a great strategic option for smaller or fast-growing private companies.
Innovative credit solutions
With this acquisition, Fiinu plans to expand its fintech offerings beyond Banking-as-a-Service. Fiinu focuses on creating financial products that deliver innovative credit solutions to support consumers and businesses alike. Founded in Poland, Everfex’s well-established regional presence will also allow Fiinu to enter Poland’s rapidly expanding economy.
The acquisition constitutes a reverse takeover under AIM Rules and is subject to shareholder approval and re-admission of the enlarged share capital to trading on AIM.
Our services and client team
Our Estonian legal team supported Fiinu PLC with Estonian-specific matters, including regulatory analysis of the Estonian prospectus disclosure regime, dispute risk assessment, advising on company structure and ownership, as well as public data review, and providing a limited-scope analysis of the seller’s Estonian corporate profile.
We worked closely with the client to tailor our deliverables to their specific requirements and transaction timeline.
The project was led by associate Meri-Ly Karjus-Mustafayev, and supported by partner Toomas Prangli and counsel Triin Ploomipuu. The team also included senior associate Oliver Ämarik.
