Stockholm-based automated investment system developer Lysa raises €33M (MSEK 350) from Nicklas Storåkers, SEB and Ramsbury. Lysa’s investment method based on Nobel Prize-winning research is a fund robot that allows users to automatically invest at low fees which leads to saving money. The funding will be used to develop its savings system to provide its customers a better service.
Lysa raises 350 million
The automated savings service Lysa is gaining market share. In 2021, the assets under management more than doubled and Lysa today helps 100,000 customers to save SEK 18 billion. Now the company is gearing up with a new issue of SEK 350 million where Nicklas Storåkers is the single largest investor. SEB and Ramsbury (the Persson family investment company) join as new owners.
“We are happy and proud of the trust that our customers and shareholders give us. It takes time to build healthy savings and it takes time to build a large savings company. The new share issue gives us the conditions to develop an even better savings service for more customers,” says Patrik Adamson, CEO and co-founder of Lysa.
Lysa is one of the largest new savings companies in Europe with 100,000 active customers who together save and invest SEK 18 billion with Lysa. The company helps its customers to save money automatically in what Lysa considers to be the world’s best funds. Based on the customer’s preferences and needs, Lysa develops proposals with the right level of risk.
“The right risk level is A and O. Many people have either too high or too low a risk in their savings, something that can have major consequences in both the short and long term. Nobody knows what will happen tomorrow or in 10 years, so we want to help our customers be prepared for anything to happen,” says Patrik Adamson.
Lysa’s business model is as simple as it is different. Lysa only gets paid directly from its customers and the same amount regardless of what Lysa recommends or what the customer chooses. The fee to Lysa is a maximum of 0.24% per year. Together with the underlying fund and transaction fees, the total annual fee for an average customer lands at 0.35%, which is significantly lower than the price of traditional asset management.
“Since we do not receive commissions but only get paid directly from our customers, we all have incentives to only do what is best for the customer. Our full focus is that our customers should get as much as possible out of their savings,” says Patrik Adamson, CEO of Lysa.
The single largest investor in the rights issue is Nicklas Storåkers, which is investing a total of an additional SEK 150 million (€15M). SEB invests SEK 100 million (around €9M) and is added as new investors together with Ramsbury.
“Lysa is the best savings product on the market. In a simple way, Lysa answers the most common and most important question in saving: ‘how should I invest my money? In addition, the service is offered at really low fees. I am convinced that Lysa will grow for many, many years to come,” says Nicklas Storåkers.
“Lysa is well positioned to become a leading fintech company in automated savings in Europe. We have seen how many Swedish fintech companies have succeeded in the international arena and we look forward to supporting Lysa’s European expansion plans,” says Johan Wolf, head of SEB Venture Capital.