In Q1 PURO continued previous quarter’s surge in growth. Despite the traditionally low-season for invoice financing among SME customers, the total customer invoicing in Q1 topped Q4 record and was up 103% from Q1 2021. 84 new customers were onboarded, with a monthly record 37 in March, bringing the total number of customers over 600.

The increased invoicing flow generated major increase in revenue. Monthly recurring revenue peaked at 384 t eur with 58% growth from previous March and 28% up from December. Total quarterly revenue was 938 t eur increasing by 69% from previous year and up 7% from previous quarter.

Total loan receivables expanded by 20% within Q1 and amounted to 23 m eur. Despite the growth our risk position improved significantly during Q1. Late outstanding receivables decreased by 5% and their share of total loan receivables decreased from 18% to 14%.

Our investments in expansion and future growth was notable in Q1 operating expenses and as a result Operating profit and EBIT % decreased as planned from previous quarter. However, we are well ahead of our profit targets after Q1, with distinct improvement from Q1 2021, and expect the profitability to remain within the targets for the whole year.

After the first quarter our outlook for 2022 and beyond seems increasingly positive. As stated, PURO is well ahead of passing the 50% top-line growth target whilst continuing on our promise of profitable growth despite investments for the future. There are a few major partnerships on the closing phase while we expect the first step in our international expansion in Sweden to kick-start after summer pending the final approval from the local FSA.

Now in April 2022, we cannot ignore the despair caused by the brutality of the war-mongering regime in Russia. In addition to the prevalent sanction-screening we are committed to not finance products or services sold to Russia for the time being. Furthermore, we will raise our focus on sustainability and ethical principles on how and with whom we do business in the future.

PURO Finance Oy


Junno Roine, CEO,, +358 50 522 6037

Juho Väinölä, CFO,, +358 50 573 6427

Read our previous interim reports on our Investor page!