SINGAPORE. July 15, 2022. FLOW, the ethical collections fintech start-up announced today it achieved both EBITDA profitability and positive cash flow. The company’s move into the black was driven by an increase in Flow Outsourcing business line revenue by ca. 2.5x in the last 12 months, as well as a significant operational performance improvement and cost optimization.
The company also announced the promotion of Przemek Januszaniec, previously FLOW’s Chief Performance Officer, to the role of FLOW’s CEO. Mr. Januszaniec brings to his new role 18 years of senior Credit Management experience gained at major international consumer lending companies, including Citi, Home Credit, Deutsche Bank, and Kruk across the Global Emerging Markets. Tomasz Borowski, FLOW’s Co-Founder and previous CEO, will be assuming a non-executive Deputy Chairman role in connection with this appointment.
Tomasz Borowski, FLOW’s Co-Founder, commented: “I feel tremendously proud and privileged to have led FLOW from its inception to achieving the all-important profitability milestone. Being one of the first early-stage fintech in the region to achieve breakeven fully validates our vision. I am also very excited for Przemek, who gets to take the company into a new stage of profitable growth. We feel the opportunity is definitely there for us to build one of the new global market leaders in the Credit Management space and are exhilarated for the road ahead.”
Founded in 2016, FLOW’s illustrious client list covers over 30 of the largest bank and non-bank consumer lenders in South and Southeast Asia, to whom it provides data-driven and highly automated credit collection and management services (Flow Outsourcing) as well as acquisition of non-performing loan portfolios, enabling its partners to maintain a healthy balance sheet and NPL ratios (Flow Trading). Headquartered in Singapore, FLOW is led by an international management team with deep expertise in the credit management space and is backed by some of the top names in Southeast Asian fintech VC investing, including Integra, SIG, KFW-DEG, and SCB.