Fitch Affirms Multitude AG's Positive Outlook; IDR Stable at B+

Multitude AG, a European FinTech firm headquartered in Zug, maintains its Long-Term Issuer Default Ratings (IDRs) at 'B+' as affirmed by Fitch Ratings. The company's outlook remains positive. Multitude’s financial instruments, including senior unsecured notes, hold steady at 'B+' with a Recovery Rating of 'RR4'. Its subordinated hybrid perpetual capital notes are rated at 'B-'/'RR6'.

Multitude AG provides digital lending and online banking services to consumers and businesses. It operates through three business units: Consumer Banking, SME Banking, and Wholesale Banking, under the European market umbrella. Founded in Finland, it now employs over 800 people across 25 countries and reported a turnover of 230 million euros in 2023.