Asian Fintech FLOW Turns a Profit and Names a New CEO
Bitcoin Blog | Asian Fintech FLOW Turns a Profit and Names a New CEO | FLOW is one of the first early-stage fintechs in Southeast Asia to make money before Series B.
SINGAPORE, Jul. 15, 2022/PRNewswire/ — The ethical collections fintech startup FLOW said today that it has both a positive cash flow and a positive EBITDA. The company moved into the black because the Flow Outsourcing business line’s revenue grew by about 2.5 times in the last 12 months, as well as because operational performance and costs were greatly improved and optimized.
The company also said that Przemek Januszaniec, who was FLOW’s Chief Performance Officer before, would now be the CEO of FLOW. Mr. Januszaniec brings 18 years of senior Credit Management experience to his new job. He has worked at major international consumer lending companies like Citi, Home Credit, Deutsche Bank, and Kruk across the Global Emerging Markets. Tomasz Borowski, who helped start FLOW and was its CEO before, will now take on the role of non-executive Deputy Chairman.
Tomasz Borowski, who helped start FLOW, said: “I’m very proud and honored to have led FLOW from the beginning to the very important point where it started making money. Being one of the first early-stage fintech companies in the region to reach breakeven proves that our vision is on the right track. I’m also very happy for Przemek, who gets to lead the company into a new phase of profitable growth. We definitely see the chance for us to become one of the new global market leaders in Credit Management, and we’re excited for what’s to come.”
FLOW was founded in 2016, and its impressive client list includes over 30 of the largest bank and non-bank consumer lenders in South and Southeast Asia. FLOW provides data-driven and highly automated credit collection and management services (Flow Outsourcing) as well as acquisition of non-performing loan portfolios, which helps its partners keep a healthy balance sheet and NPL ratios (Flow Trading). FLOW is run by an international management team with a lot of experience in credit management. Integra, SIG, KFW-DEG, and SCB are some of the biggest names in Southeast Asian fintech venture capital, and they back FLOW.