PlusPlus Capital Announces Changes in Management

PlusPlus Capital Announces Changes in Management

Tallinn, Estonia, 29 November 2024. PlusPlus Capital (“ PPC ”), a leading pan-Baltic and Finnish technology-driven receivables management group, has implemented changes in Company’s management within the context of the Extraordinary General Meeting held on 30 October 2024.

Following the resignations of Supervisory Board members Viljar Kähari and Mirje Trumsi, four new members were elected to the Supervisory Board:

• Sacha Verveckken, a key member of the investor group that recently acquired a majority stake in the company, was also appointed Chairman of the Supervisory Board.
• Armand Reinmaa, an experienced attorney at law and partner at Reinmaa & Partnerid, brings extensive expertise in civil, administrative, and criminal law.
• Jaanus Laidvee, Country Manager for PPC ’s Estonian operations, with over 20 years experience in debt management, has previously served as Managing Director and Board Member for several leading companies in the industry.
• Karl Mitt, with over two decades of experience in the debt collection industry, who has previously held various positions within PlusPlus Capital Group and other leading companies within the industry.

Rasmus Pikkani will continue as a member of the Supervisory Board.

As part of the planned transition under the new ownership, it has been mutually agreed that Peeter Piho will step down from his role as the member of the Management Board and CEO. Previous member of the Management Board Linda Visocka will continue as Country Manager of the Latvian operations. Kaarel Raik will continue to serve as a member of the Management Board.

PlusPlus Capital expresses its sincere gratitude to Peeter Piho for his long-standing commitment and contribution to the Company’s growth and success.

To lead the Company into its next phase of development, the Supervisory Board has appointed Reimo Tomingas as new member of the Management Board and CEO. Reimo Tomingas has been with PlusPlus Capital Group since 2019 and is Chairman of the Board of PlusPlus Capital OY, which manages the Group’s Finnish operations. Prior to joining PPC , he spent over a decade as Country Manager and CEO of Creditreform Eesti OÜ, part of Creditreform International Group, being responsible for establishing and managing operations as part of the Group. Previously he has also managed a licensed consumer finance company.

The new shareholders express their confidence in Mr. Tomingas and wish him success in his new role. They believe that his leadership, combined with the expertise of the newly constituted Supervisory Board, positions the Company to effectively implement its ongoing reorganization plan, restore stability, and unlock new growth opportunities.

Contact:

PlusPlus Capital
Kaarel Raik, Member of the Management Board
Email: kaarel.raik@plusplus.ee
Phone: +372 56 606 148

About PlusPlus Capital:

PlusPlus is a pan-Baltic and Finnish technology-driven receivables management company with offices in Tallinn, Riga, Vilnius, and Helsinki. The Company acquires overdue loans and other non-performing exposures from financial institutions and non-financial sector merchants. With its core competence in handling claims against private individuals, PlusPlus prefers diversified portfolios balanced by geography, portfolio type, and other metrics.

Since its inception in 2010, PlusPlus has bought over 120 thousand claims with nominal value of approximately EUR 270 million. The Company offers its clients affordable recovery solutions and aims to avoid litigious scenarios. In doing so, PlusPlus pursues win-win solutions that allow sellers to focus on their core business, provide affordable solutions for borrowers, and ensure adequate returns for investors.

PlusPlus is a transparent and socially responsible company set to assist people in resolving problems connected with their insufficient solvency. The ambition of PlusPlus is to increase its market share and further strengthen its position as a leading player in its regional market.

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