Published: 2013-03-15 09:47:00 CET
TrustBuddy AB
Company Announcement

TrustBuddy establishes local presence in Poland

Stockholm, 2013-03-15 09:47 CET (GLOBE NEWSWIRE) -- Following the positive market updates from Spain, TrustBuddy is proud to announce that the company is now officially present in Poland. Partnership agreements with local partners are in place, covering debt recovery and collection, plus services within instant credit-worthiness scoring and control, and instant ID control. The website will open for customers in Poland from the start of April 2013. Lending funders can invest in products in Poland from the 04.04.2013.

The launch in Poland will be conducted in the same manner as previous successful TrustBuddy country releases, with a soft-launch period of organic growth and limited marketing, before scaling up operations in line with actual demand. The soft-launch period will commence within weeks, with primary marketing efforts coming into effect during Q2/3.

The establishment in Poland is a financial position, as well as a strategic position in relation to our main competitors. Poland has a huge market potential, there is huge interest from end users in this market, and the average loan default rates and other key indicators are in line with the other markets in which TrustBuddy has great success. 

Poland has close to 40 million citizens, and is the 6th largest country in the EU in terms of population. TrustBuddy estimates the core target group to be approximately 5,4 million people, which is more than double the size of the Scandinavian market.

TrustBuddy expects the entity in Poland to be profitable within the first year of operations.

A market update on the local TrustBuddy operations in Poland will be released separately.

 

 

For additional information, please contact:

Jens Glasø, CEO, TrustBuddy International AB (publ)

+47 40 40 47 50, investorcare@trustbuddy.com

 

http://trustbuddy.com/

http://trustbuddyinternational.com/

 

About TrustBuddy International AB (publ)

TrustBuddy International AB (publ) is one of the first in the world to focus on arranging loans and capital provision between buddies in Scandinavia in an organised manner. The company is listed at NASDAQ OMX First North in Stockholm. Mangold Fondkommission AB is TrustBuddy International AB (publ):s Certified Adviser and market maker, contact number: +46 8-503 015 50.