TrustBuddy expands through local presence in Estonia
TrustBuddy officially announces that the company is establishing operations in Estonia. Contracts are signed with local partners. Recovery and collection activities are in place as well as the important scoreingmodel for credit and ID verification.
The launch in Estonia is made in the same way as previous successful launches in other countries. This involves a careful initial launch period of organic growth and limited promotion followed by a upscaling of operations in accordance with market needs. The launch start within the next few weeks, and the estimated start of the regular marketing is done in Q2/3.
Estonia has a large market potential and studies made by TrustBuddy reflects a strong interest from end consumers. The average loan losses and other key indicators of the Estonian market are in line with TrustBuddy's other actve and successful markets.
TrustBuddy expect that operations in Estonia will be profitable within the first year.
A market update TrustBuddys local business in Estonia will be released separately.
For additional information, please contact:
Jens Glasø, CEO, TrustBuddy International AB (publ)
Tel: +47 40 40 47 50,
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 is TrustBuddy International AB (publ)'s Certified Adviser and market maker, phone number: +46 8-503 015 50.