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Tuesday, March 19, 2024

Swedish fintech grabs €30M Series C to accelerate its growth

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Stockholm-based loan refinancing platform Anyfin has collected €30 million in a Series C round led by its existing investor Northzone. The round saw participation from Accel, EQT Ventures, FinTech Collective, Quadrille Capital, Augmentum FinTech and new investor Citi Ventures. With the latest capital injection, the startup’s total equity funding raised up to €106M. Anyfin’s system uses publicly available consumer data, AI and mobile technology to aid individuals with high credit scores to lower the interest rates on their consumer loans by refinancing without increasing the repayment term. Anyfin plans to employ the funds to expand its operations throughout Europe and enhance its product offerings in the European markets where it currently operates.

In 2017, three entrepreneurs – Mikael Hussain, Sven Perkmann, and Filip Polhem – aimed to disrupt the financial services industry with the launch of Anyfin. Their goal was to simplify the often-complex process of refinancing debt and give consumers access to fair interest rates on their existing credit.

Anyfin utilizes advanced technology to provide a proprietary platform that allows users to refinance their existing loans, credit cards, and personal loans within seconds, based on their actual risk profiles. The startup has made a significant impact in the markets it operates in, including Sweden, Norway, Finland, and Germany. Since its launch in Germany in March 2021, the company has seen a 15% average monthly growth rate and a fivefold increase in growth in 2021 alone.

The startup has seen impressive adoption numbers, with over one million app downloads to date. Through the use of Anyfin’s platform, customers have saved a combined €68 million, with the average user seeing a 50% reduction in loan costs. The company has raised around €600 million in debt and equity since its inception, which it plans to use to accelerate growth across Europe and strengthen its product offering in existing markets.

Click to read more funding news.

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Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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