Fintech
Huddlestock Fintech focuses on profitable growth and expansion
Huddlestock Fintech AS (DE:9JR) has released an update.
Huddlestock Fintech AS reported an increase in operating profit to NOK 20.6 million in the first quarter of 2024, from NOK 16.6 million a year earlier, attributing the growth to its profitable consultancy business and promising a Investment-as-a-Service (IaaS) offering. Despite the negative EBITDA, the company is optimistic about its growth potential, especially in the German market, and is taking steps to achieve positive EBITDA. Huddlestock has also strengthened its financial position with a post-Q1 convertible equity loan and has a mandate for further financing to support its expansion.
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