Hoist Finance has historically been focused on the consumer unsecured NPL market, with minimal investments in other asset classes prior to 2018. We have been an asset specialist, concentrating on one asset class in which we have extensive knowledge and expertise.
Our strategy since 2018 has been to expand into new asset classes, ensuring we are able to support banks and financial institutions in various stages of the credit risk cycle. This allows us to better compete with peers in our industry who operate integrated servicing platforms in multiple countries.
However, we remain focused on our existing, prioritised markets, expanding the platforms we have already established rather than engaging in extensive, high-value M&A activity. To learn more about our expansion into new asset classes, click here.
Hoist Finance also operates under a banking model, having been a licensed credit institution since 1994. This provides us with a unique funding advantage, with our acquisitions funded primarily through the use of customer deposits from our HoistSpar platform in Sweden and Germany. However, beyond this funding advantage, we are yet to fully exploit the potential of our banking platform. We have in the year taken new initiatives to ensure we are able to derive full value for our banking platform.