Half-Year results; six months ended 30 June 2026

Fiinu PLC

11 September 2026

 

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 ('MAR'), which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, until the release of this announcement

11 September 2026

Fiinu Plc

("Fiinu", the "Company" or the "Group")

Half-Year results for the six months ended 30 June 2026

Fiinu plc (AIM: BANK), a fintech group, creator of the Plugin Overdraft®, announces its unaudited half-year results for the six months ended 30 June 2026.

Business Highlights

UK White-labelled Plugin Overdraft® Partnership: Substantial progress was made during the period towards the first production deployment of the Plugin Overdraft® with Conister Bank, with implementation materially advanced and remaining work focused on launch preparation.

Plugin Overdraft® Platform Development: The technology platform was further developed during the period to support deployment across European Open Banking architectures and to integrate alongside partners' existing banking infrastructure, supporting the Group's strategy of deploying the Plugin Overdraft® through multiple white-label banking partnerships.

Everfex Operational Remediation and Restructuring: Following a detailed post-acquisition review, the Board took decisive steps to address legacy operational, financial and governance matters within Everfex. Governance, risk oversight, AML/compliance arrangements, credit controls and operating procedures were strengthened, alongside a detailed review of legacy lending, creditor claims and historical transactions.

Capital Discipline and Operational Efficiency: The Group deployed capital and liquidity into continued development of the flagship Plugin Overdraft®, alongside supporting the post-acquisition review of Everfex. Plugin Overdraft® expenditure remained focused on achieving commercial deployment, while measures were implemented to transition Everfex towards a leaner and increasingly self-funded operating model, alongside continued tight management of plc overheads and discretionary expenditure.

Post Period End Highlights

Plugin Overdraft® - Conister Bank Partnership: Fiinu and Conister Bank agreed an addendum to their Master Services Agreement, formalising an updated implementation timetable and long-term commercial framework for the Plugin Overdraft®. The platform has progressed into the production environment, representing a significant milestone launch, targeted for around year-end 2026. The initial deployment is intended to support Conister Bank in extending overdraft facilities to Payment Assist Limited's existing customer base of approximately 1.5 million customers, with readiness for subsequent expansion to the wider market.

Everfex Operational Restructuring: Management has continued to reduce Everfex's operating cost base as part of the wider review of the business. By August 2026, the subsidiary's reported monthly overheads had reduced by approximately 55% compared with August 2025 and by approximately 50% compared with the representative monthly run-rate during 2025.

Strategic Outlook

The Group's strategy is focused on demonstrating the Plugin Overdraft® through its first production banking deployment and using that implementation as a foundation from which to secure additional white-label banking partnerships in the UK and Europe.

European Market Opportunity: During 2026, Fiinu has increased its focus on prospective European banking partners. The Plugin Overdraft® platform has been developed to operate across UK and EEA Open Banking architectures and alongside partners' existing banking infrastructure. European Banking Federation data suggests a banking market of approximately 5,000 institutions, while Fiinu's analysis of publicly available household financial-resilience data suggests over 120 million population of consumers experiencing short-term liquidity constraints which our Plugin Overdraft® solution could address. The Board believes this combination of a large addressable banking-partner market and identifiable consumer need provides a significant potential opportunity for the Group's white-label model.

Commercial Model and Scalability: For prospective white-label deployments, Fiinu's revenue model is based on recurring platform revenue per customer. This provides both the Group and banking partners with a known cost per customer. As the end user base increases for the Plugin Overdraft®, the Group also benefits from material economies of scale from its own supplier and technology cost base.

Based on the Group's current suppliers and technology cost structure, management estimates that this model could generate significant margins that increase further with scale. The technology-led nature of the platform therefore provides the potential for increasing operating leverage as customer volumes and the number of banking partners increase.

Broader Platform Opportunity: The Board views the Plugin Overdraft® as the first application of a broader unbundled-credit architecture, designed to allow banking partners to provide credit products to consumers without requiring customers to move their primary banking relationship. Over time, the Group believes this architecture could potentially support additional consumer and SME credit products.

Everfex: The Group's strategy is to establish Everfex within the enhanced governance, risk and capital frameworks that were introduced following acquisition. The desire remains to see Everfex operate profitably on a self-funded basis. Unfortunately, at this time there remains significant uncertainty with regards to Everfex's ongoing operational outlook due to continued legacy creditor matters and related ongoing restructuring discussions.

Financial Highlights

·      Cash at period end £2.704m

·      Loss after tax for the period £2.147m

Going Concern: The financial statements have been prepared on a going concern basis. In assessing going concern, the Directors have considered the financial position, the financial and cash flow projections, longer-term strategy of the business and the capital and liquidity plans, including stress tests and plans for future capital injections.

Forecasting revenues from financial services products involves inherent uncertainty, and there can be no assurance that anticipated opportunities will translate into revenues at the levels forecast. As such, forecasts, the timing of future commercial revenues and the Group's future cash requirements give rise to a material uncertainty which may cast significant doubt on the Group's ability to continue as a going concern. Further details are set out in Note 2

 Dr Marko Sjoblom, Fiinu's Chief Executive said:

"The first half of 2026 has been a period of significant operational progress and active management across both of the Group's principal businesses. For the Plugin Overdraft®, our primary focus has remained the commercial deployment of the technology. We have continued to progress our partnership with Conister Bank and, following the period end, agreed an updated implementation and commercial framework and moved the platform into the production environment. Work is now focused on launch preparation, with the first production deployment targeted for around year-end 2026. We believe this represents an important step towards establishing a live, scalable platform from which the proposition can subsequently expand.

At Everfex, our priorities have evolved considerably following the acquisition. A detailed post-acquisition review identified a number of legacy operational, financial and governance matters which required decisive action. We have strengthened governance, risk management, compliance and credit controls, while reviewing legacy creditor positions and historical transactions. At the same time, management has materially reduced the operating cost base and is working towards establishing Everfex as a leaner and increasingly self-funded business. Our objective is to preserve and develop that business while addressing legacy matters through an appropriate and structured process, whilst carefully managing the Group's exposure to them.

Across Fiinu, we remain focused on disciplined capital allocation and managing liquidity. Our immediate priorities are clear: complete the first commercial deployment of the Plugin Overdraft®, continue to develop opportunities with prospective banking partners, progress the restructuring and operational improvement of Everfex, and maintain tight control over Group expenditure.

Although 2026 has presented challenges, the actions taken during the period and subsequently have created a clearer operational and financial framework for both businesses. We remain focused on execution and on converting the Group's technology, commercial relationships and underlying operating businesses into sustainable long-term shareholder value."

The half-year Interim Report and Accounts for the period ended 30 June 2026 are available on the Company's website at www.fiinuplc.com.

Key Financials

Highlighted below are the key unaudited financial highlights for the six months to 30 June 2026, compared to the six months to 30 June 2025 and the audited year ending 31 December 2025.

	Unaudited half year to 30 Jun 2026 £	Unaudited half year to 30 Jun 2025 £	Audited year to 31 Dec 2025 £
Revenue	371,086	-	662,666
Gross profit	-	-	-
Administrative expenses	(2,518,386)	(1,501,429)	(2,419,414)
Exceptional items	-	-	(8,552,655)
Investment revenues / cost	-	-	-
Other income	-	517,406	-
Net finance (cost) / income	(118,658)	3,685	(64,062)
Loss before taxation	(2,265,958)	(980,338)	(10,373,465)
Income tax income	118,922	-	628,653
Loss after taxation	(2,147,036)	(980,338)	(9,744,812)
Currency translation	9,775	-	-
Total Loss and total comprehensive Income	(2,137,261)	(980,338)	(9,744,812)
Earnings per share
Basic	(0.0054)	(0.0035)	(0.0298)
Diluted	(0.0054)	(0.0035)	(0.0298)

Enquiries:

Fiinu Plc Dr. Marko Sjoblom	Tel [phone]
SPARK Advisory Partners Limited (Nomad) Mark Brady/Angus Campbell	Tel [phone] Email: [e-mail]
Marex Group Plc (Joint Broker) Angelo Sofocleous / Matt Bailey	Tel [phone] Email: [e-mail]
Oberon Investment Limited (Joint Broker) Nick Lovering/ Adam Pollock/ Mike Seabrook	Tel [phone]
Brazil (Financial PR) Joshua van Raalte / Christine Webb	Tel [phone]

Fiinu Plc ("Fiinu"), founded in 2017, is a publicly traded (LSE: BANK) fintech Group, admitted to trading on the AIM Market of the London Stock Exchange, that has developed the world's first Bank Independent Overdraft® platform. The platform, offered as a white labelled solution to banks, allows lenders to offer Fiinu's flagship product, Plugin Overdraft® to retail consumers. Plugin Overdraft® is an unbundled overdraft solution that allows customers to have an overdraft without changing their existing bank.

Fiinu's vision is that the Bank Independent Plugin Overdraft® platform will create a totally new market, an infrastructure where unbundled overdrafts will increase financial fairness and freedom for everyone, everywhere.

The underlying technology platform is bank agnostic, and it enables Fiinu to serve all other banks' customers. With the customer's consent, the platform can already connect to more than 100 million bank accounts in the UK, i.e. any of the retail customer's existing primary bank accounts, no matter which bank they use. Fiinu's vision is built around Open Banking, and the Board believes that it increases competition and innovation in the financial services market.

For more information, please visit www.fiinuplc.com.

 Consolidated statement of comprehensive income

	Unaudited half year to 30 Jun 2026 £	Unaudited half year to 30 Jun 2025 £	Audited year to 31 Dec 2025 £
Revenue	371,086	-	662,666
Gross profit	-	-	-
Administrative expenses	(2,518,386)	(1,501,429)	(2,419,414)
Exceptional items	-	-	(8,552,655)
Investment revenues / cost	-	-	-
Other income	-	517,406	-
Net finance (cost) / income	(118,658)	3,685	(64,062)
Loss before taxation	(2,265,958)	(980,338)	(10,373,465)
Income tax income	118,922	-	628,653
Loss after taxation	(2,147,036)	(980,338)	(9,744,812)
Currency translation	9,775	-	-
Total Loss and total comprehensive Income	(2,137,261)	(980,338)	(9,744,812)
Earnings per share
Basic	(0.0054)	(0.0035)	(0.0298)
Diluted	(0.0054)	(0.0035)	(0.0298)

Consolidated statement of financial position

	Unaudited half year to 30 Jun 2026 £	Unaudited half year to 30 Jun 2025 £	Audited year to 31 Dec 2025 £
ASSETS
Non-current assets
Intangible assets	878,639	-	878,639
Property, plant and equipment	5,218	1,197	1,033
Deferred tax asset	93,662	-	-
	977,519	1,197	879,672
Current assets
Other financial assets	231,243	-	994,676
Trade and other receivables	331,101	51,633	481,716
Cash and cash equivalents	2,703,888	643,490	3,943,760
Derivative financial assets	192,019	-	1,329,667
	3,458,251	695,123	6,749,819
Total assets	4,435,770	696,320	7,629,491
LIABILITIES
Non-Current liabilities
Borrowings	2,147,312	-	2,000,000
Deferred tax liabilities	-	-	63,670
	2,147,312	-	2,063,670
Current liabilities
Trade and other payables	1,657,137	300,965	2,214,808
Derivative financial liabilities	79,298	-	461,316
	1,736,435	300,965	2,676,124
Total liabilities	3,883,747	300,965	4,739,794
Capital and Reserves
Called up share capital	39,844,165	28,724,724	39,844,165
Share premium	10,678,819	9,475,486	10,678,819
Own shares	(230,564)	(5,100)	(30,151)
Merger reserve	(21,120,782)	(21,120,782)	(21,120,782)
Shares to be issued	-	50,000	-
Share based payment reserve	116,456	-	116,456
Exchange rate revaluation reserve	9,775	-	-
Retained losses	(28,745,846)	(16,728,973)	(26,598,810)
Total Equity	552,023	395,355	2,889 697
Total equity and liabilities	4,435,770	696,320	7,629,491

Consolidated statement of cash flows

	Unaudited half year to 30 Jun 2026 £	Unaudited half year to 30 Jun 2025 £	Audited year to 31 Dec 2025 £
Cash flows from operating activities
Cash absorbed by operations	(1,024,855)	(1,482,228)	(4,107,568)
Income taxes refunded	(38,409)	517,406	407,391
Net cash outflow from operating activities	(1,063,264)	(585,842)	(3,700,177)
Investing activities
Cash acquired on purchase of subsidiary	-	-	1,178,164
Purchase of property, plant and equipment	(4,849)	(1,305)	(1,305)
Interest received	32,711	3,685	25,839
Net cash generated from investing activities	27,862	2,380	1,202,698
Financing activities
Proceeds from issue of shares	-	1,250,000	4,163,581
EBT shares purchased	(200,413)		(25,051)
Proceeds from borrowings	-	-	2,000,000
Interest paid	(4,057)	-	(52,223)
Net cash generated from financing activities	(204,470)	1,250,000	6,085,307
Net increase/(decrease) in cash and cash equivalents	(1,239,872)	287,558	3,587,828
Cash at beginning of period	3,943,760	355,932	355,932
Cash at end of period	2,703,888	643,490	3,943,760

Consolidated statement of changes in equity

Attributable to equity shareholders of the company

	Called up share capital £	Share premium £	Share based payment reserve £	Own Shares £	Merger reserve £	Foreign exchange reserve £	Retained earnings £	Total £
Balance at 31 December 2025	39,844,165	10,678,819	116,456	(30,151)	(21,120,782)	-	(26,598,810)	2,889,697
Period ended 30 June 2026
Loss and total comprehensive income for the period	-	-	-	-	-	9,775	(2,147,036)	(2,137,261)
EBT shares purchased	-	-	-	(200,413)	-	-	-	(200,413)
Issue of share capital	-	-	-	-	-	-	-	-
Balance at 30 June 2026	39,844,165	10,678,819	116,456	(230,564)	(21,120,782)	9,775	(28,745,846)	552,023

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 2025 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 2025 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 2026 and 30 June 2025 are unaudited. This announcement was approved by the Board on 10 September 2026.

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 2026 and for the six months ended 30 June 2026 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, 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 2026. 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.

The Group's ability to continue as a going concern is dependent upon the continued management of its cost base and the timing and level of future cash generation from its operations and/or, if required, its ability to secure additional funding. The timing of commercial revenues from the Plugin Overdraft® remains subject to successful completion of implementation activities and subsequent customer adoption and therefore cannot be predicted with certainty.

These conditions indicate the existence of a material uncertainty which may cast significant doubt on the Group's ability to continue as a going concern. The Directors have a reasonable expectation that the uncertainty outlined above can be managed to a successful outcome, and based on that assessment, the Group will have adequate resources to continue in operational existence for the foreseeable future.

3.     Significant accounting policies

The accounting policies set out in detail in note 2 of the Group's consolidated financial statements to 31 December 2025 have been applied consistently to these unaudited financial statements to 30 June 2026. There are no new standards or amendments to standards which are material to the accounts for the half year ended 30 June 2026.

4.     Events in the six months ended 30 June 2026

UK White-labelled Plugin Overdraft® Partnership: Substantial progress was made during the period towards the first production deployment of the Plugin Overdraft® with Conister Bank, with implementation materially advanced and remaining work focused on launch preparation.

Plugin Overdraft® Platform Development: The technology platform was further developed during the period to support deployment across European Open Banking architectures and to integrate alongside partners' existing banking infrastructure, supporting the Group's strategy of deploying the Plugin Overdraft® through multiple white-label banking partnerships.

Everfex Operational Remediation and Restructuring: Following a detailed post-acquisition review, the Board took decisive steps to address legacy operational, financial and governance matters within Everfex. Governance, risk oversight, AML/compliance arrangements, credit controls and operating procedures were strengthened, alongside a detailed review of legacy lending, creditor claims and historical transactions.

Capital Discipline and Operational Efficiency: The Group deployed capital and liquidity into continued development of the flagship Plugin Overdraft®, alongside supporting the post-acquisition review of Everfex. Plugin Overdraft® expenditure remained focused on achieving commercial deployment, while measures were implemented to transition Everfex towards a leaner and increasingly self-funded operating model, alongside continued tight management of plc overheads and discretionary expenditure.

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 2025	398,441,653	39,844,165
Issued in the half year	-	-
30 June 2026	398,441,653	39,844,165

There are no restrictions on the transfer of shares in Fiinu Plc. All shares carry equal voting rights.

6.     Post Period end events

Plugin Overdraft® - Conister Bank Partnership: Fiinu and Conister Bank agreed an addendum to their Master Services Agreement, formalising an updated implementation timetable and long-term commercial framework for the Plugin Overdraft®. The platform has progressed into the production environment, representing a significant milestone towards the first production deployment, targeted for around year-end 2026. The initial deployment is intended to support Conister Bank in extending overdraft facilities to Payment Assist Limited's existing customer base of approximately 1.5 million customers, with the potential for subsequent expansion to the wider market.

Everfex Operational Restructuring: Management has continued to reduce Everfex's operating cost base as part of the wider restructuring of the business. By August 2026, the subsidiary's reported monthly overheads had reduced by approximately 55% compared with August 2025 and by approximately 50% compared with the representative monthly run-rate during 2025.

7.     Earnings per share

	Unaudited Half Year 2026 Number	Unaudited Half Year 2025 Number	Full Year Audited 2025 Number
Basic
Weighted average number of ordinary shares in issue	398,441,653	283,863,268	326,824,052
Less weighted average numbers of own shares
Weighted average number of shares in issue for basic earnings per share	398,441,653	283,863,268	326,824,052

The basic and diluted earnings per share are calculated using the after tax loss attributable to equity shareholders for the financial period of £2,147,036 (30 June 2025: loss £980,338; 31 December 2025: loss £9,744,812) divided by the weighted average number of Ordinary shares in issue in each of the relevant periods: 30 June 2026: 398,441,653 shares (30 June 2025: 283,863,268 shares and 31 December 2025: 326,824,052). During the half-year period to 30 June 2026 there was no movement on the number of shares in issue. For the period to 30 June 2026 and the year to 31 December 2025 and period to 30 June 2025 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, including statements regarding the Group's plans, objectives, expectations, anticipated product deployments, potential market size, market-share assumptions, illustrative scenarios, customer volumes, pricing, costs, revenues and future performance. These statements reflect the knowledge and information available to the Company during the preparation and up to the publication of this document. By their nature, such statements depend upon circumstances and relate to future events and therefore involve risks and uncertainties. Although the Group believes that the expectations and estimates reflected in these statements are reasonable, it can give no assurance that they will prove to have been correct, and actual results may differ materially from those expressed or implied by such forward-looking statements.

The Group undertakes no obligation to update any forward-looking statements, estimates or targets, whether as a result of new information, future events or otherwise, except as required by applicable law or regulation.

For full filings of the unaudited consolidated financial statements for the half-year ending 30 June 2026 please visit the Company's website at www.fiinuplc.com.

Financial information in this Announcement

The financial information presented in this announcement does not comprise the statutory unaudited accounts for the Group for the half-year ended 30 June 2026 and 30 June 2025 but extracts from them. The unaudited half-year Report and Accounts for the period ended 30 June 2026, will be dispatched to shareholders shortly and will be available to download from the Company's website at https://fiinuplc.com/annual-and-interim-reports. 

 

END