Fiinu reports profitable month, alleges non-compete breaches at Everfex
By Josh White
Date: Monday 05 Jan 2026
(Sharecast News) - Fiinu reported its first ever profitable month at group level and announced senior management changes at its Polish subsidiary on Monday, as part of a wider governance and compliance review following its reverse takeover last year.
The AIM-traded fintech said it achieved an unaudited net profit for the group in November, including exceptional items.
While describing the result as an important milestone, the board cautioned that performance could continue to fluctuate on a monthly basis.
Fiinu said the improvement reflected operational and organisational changes across the business, including management restructuring in Poland, new business growth and tighter cost discipline.
At the end of the year, Fiinu reported an unaudited group cash balance of around £5.34m.
The company said its average monthly cash burn over recent months, excluding unplanned exceptional items, had been below £200,000.
It also addressed governance and legal matters at Everfex PSA, the Polish business acquired in 2025.
Following the acquisition, Karol Oleksa and Marta Oleksa were replaced by a new executive team, with Dr Marko Sjoblom appointed as chief executive officer and Adam Narczewski appointed as a senior executive officer acting under delegated authority from the CEO.
Fiinu said the changes materially strengthened executive capability, governance standards and operational oversight at the subsidiary.
The company said it had also served formal notices against Karol Oleksa and Marta Oleksa alleging breaches of non-compete obligations under the share purchase agreement relating to the Everfex acquisition.
It said the matter was currently at the pre-trial stage and formed part of a broader programme to enhance governance and regulatory compliance.
"The board and executive then were able to move quickly to review the systems and controls in place at Everfex in the final quarter of the year seeking to ensure consistency with our high group governance standards and with local laws and regulations in Poland," said David Hopton, chair of Fiinu.
"As the executive and board undertook this work it became apparent that changes in the management structure were likely to accelerate the integration of Everfex into the group culture and discipline.
"However, this must not be permitted to undermine the fact that together with the acquisition of Everfex, and our careful management of the cost base, Fiinu has achieved a major milestone in 2025 in recording its first profitable month.
"We now look forward to 2026 as we continue to pursue the strategy we outlined in previous announcements and to the launch in the first quarter of the Fiinu Plugin Overdraft in association with our first partner Manx Financial Group."
At 0808 GMT, shares in Fiinu were down 2.42% at 8.05p.
Reporting by Josh White for Sharecast.com.
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