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's activity report 2022

About the company

Fiizy is a cross-border technology and data processing platform that creates added value for consumers and financial service providers.

Fiizy's technology allows consumers to quickly and conveniently find a financial product that meets their needs. Financial service providers, which include banks, small loan lenders, insurance companies, gain access to a large number of potential markets through a single interface through Fiizy's technology, reducing customer acquisition costs and regulatory and technical administrative burdens associated with managing a larger partner network. Fiizy's developed profiling and scoring algorithms help financial institutions ensure high quality loan applicants and reduce risks associated with issued loans.

The Fiizy OÜ consolidation group includes Fiizy Poland Sp z o.o and Fiizy Inc, whose activities are platform services for financial institutions and

Fiizy Financing Services SL and Checkest OÜ BNPL (buy-now-pay-later) for the purpose of activity.

In the middle of the 2022 financial year, Fiizy's business directions were adjusted, as a result of which the focus is on providing platform services in existing markets in Europe and Latin America. In 2022, the development of the BNPL (buy-now-pay-later) business direction was stopped.

The turnover in 2022 was approximately 7 million euros. The number of Fiizy employees during the financial year was 31 employees.

Other impacts

The implementation of COVID-19 and related measures in Europe caused a significant impact on the business activities of partners in 2022, which in turn affected Fiizy's business activities, especially in Poland.

We have assessed financial risks (credit risk, interest rate risk, currency risk, liquidity risk) and they do not have a significant impact on Fiizy's business activities.

To hedge credit risk, cash and cash equivalents are kept only in banks with a strong credit rating. We assess the currency risk as low, as most transactions are made in euros and in markets where settlements are made in a currency other than the euro, agreements with partners are concluded in the same currency for both revenues and costs. The rise in interest rates has not had a significant impact on Fiizy's business activities. To hedge liquidity risk, the concentration of receivables and liabilities is monitored daily by maturity.

Future plans

The focus of the following financial years is on mapping potential business opportunities within the platform service in existing markets, focusing on markets where we see greater growth potential. This is especially in the direction of Latin America, where we see continued demand for Fiizy's platform service, which is why we plan to continue investing in product development and the creation of strategic partnerships in this direction. The development of the European business direction depends on the general economic and regulatory environment and large-scale investments

We do not plan in the direction of Europe in the next financial year.

Next financial year, the plan is to open at least one new Latin American market to support growth in the direction of Latin America.

At the same time, activities are being carried out to ensure maximum cost-effectiveness in business activities in the following financial years.

Ratios 2022 2021 Formulas

Net profitability -6% -14% 1) Net profitability = net profit / sales revenue * 100

Short-term liabilities 0.79 0.88 2) Short-term liabilities coverage ratio = current assets / short-term liabilities coverage ratio

ROA -9% -21% 3) ROA = net profit / total assets * 100