ESTO Group, a provider of innovative payments and shopping solutions in the Baltics, announced that it has concluded a strategic partnership with Multitude Bank p.l.c. The company has provided the following operational and financial information:
Multitude Bank has committed €14m into a bond programme to support ESTO’s growth in Europe. This contributes positively to improving the digital commerce landscape in Europe by enabling ESTO to offer financing solutions for consumers on its platform, which in turn allows retailers to achieve their growth objectives.
Multitude Bank, formerly Ferratum Bank, has been operational for ten years. With the evolution of the Multitude Group as a growth platform for FinTech businesses, the Bank has broadened its offering from serving retail consumers to also serving business customers, thus providing the opportunity for external players to benefit from its banking services.