HeavyFinance is pleased to announce a partnership with Multitude Bank, a core subsidiary of the Nordic-born listed FinTech, Multitude Group. Through a debt-asset securitisation deal, Multitude Bank will invest EUR 14 million in loans for small and medium-sized agricultural businesses to support their transition to sustainable farming practices.
The investment is secured by a first-of-its-kind portfolio guarantee of up to EUR 10.5 million provided by the European Investment Fund (EIF). The funds will be distributed among more than 500 European agricultural businesses, enabling them to adopt and expand their sustainable practices.
“We are proud to announce a landmark partnership with HeavyFinance, which underscores our commitment to delivering innovative, solution-oriented financial services. This initiative is a testament to our dedication to addressing climate change and supporting impactful sustainability efforts,” said Alain Nydegger, CEO of Wholesale Banking at Multitude. “We want to illustrate here very clearly that sustainability can be defined through profitable business practices.”
“Farmers are at the forefront of the fight against climate change, yet their ability to adopt sustainable practices often depends on access to capital. By providing the financial tools they need, we can accelerate the transition to regenerative agriculture, empowering farmers to nurture one of the planet’s largest natural carbon sinks—our soil—and preserve its health for generations. This partnership between HeavyFinance and Multitude Bank will help hundreds of small and medium-sized farms advance their sustainability journey,” said Laimonas Noreika, CEO of HeavyFinance.
Multitude Bank plans to begin investing in loans originated by HeavyFinance from December 2024, with full deployment of the EUR 14 million expected by the end of 2025.
“We are honoured to partner with HeavyFinance, a purpose-driven climate tech company dedicated to transforming agriculture and achieving their ambitious goal of removing one gigaton of CO2 emissions by 2050. This collaboration not only furthers HeavyFinance’s growth in customer base and geographic reach but also amplifies awareness of ESG priorities,” said Antti Kumpulainen, CEO of Multitude Bank.
Multitude’s Wholesale Banking division continues to deliver robust performance, showcasing significant growth in 2024. Established as an independent unit in January 2024, it has quickly positioned itself as a high-growth enabler in the institutional finance space. The Wholesale Banking portfolio grew significantly year-on-year, rising by 179% from €40.5 million at the end of 2023 to €112.9 million as of Q3 2024. Currently active in seven European countries, the division serves a diverse client base, including Fintechs, SMEs, and payment institutions. It has also expanded its payment solutions, enabling real-time payments in SEK and EUR for institutional clients.
