The Stockholm-based startup, Anyfin, has announced its $30 million Series B round, led by the EQT Ventures fund.
From Accel to Northzone
Other participants in the round include existing investors; Accel, Northzone, Fintech Collective and Global Founders Capital (GFC).
Allocation of Funds
Dedicated to making finance easier and fairer for consumers, Anyfin will use the investment to drive product innovation, launch additional offerings and scale into new European markets.
The company is on a mission to improve the financial wellbeing of Europeans and put them back in control of their finances, which has become increasingly important amid the coronavirus outbreak.
Since launching, Anyfin has grown from a team of eight to 50. Anyfin is currently available in Sweden and Finland and plans to expand across Northern Europe.
The Founding Team and their Passion
The company was launched in 2018 by Mikael Hussain (CEO), Sven Perkmann (CTO) and Filip Polhem (COO).
The founding team have previous experience within risk assessment, credit and technological development from some of Sweden's leading technology companies - iZettle, Klarna and Spotify.
Hussain, Perkmann and Polhem set out to solve what they consider to be one of the biggest financial issues facing consumers, namely unreasonably high interest rates.
"Far too many people pay unnecessarily high interest rates on their instalments, credit cards and private loans," stated Anyfin in a press release.
Anyfin claims to have lowered the effective rate with an average of 64 percent for thousands of people in Sweden and Finland. And as such it has been estimated that customers have saved $10 million by refinancing their existing loans with Anyfin.
“Right from the start, Anyfin has been on a mission to increase millions of people’s financial wellness and this is now even more important in the current climate,” said Mikael Hussain, CEO and co-founder.
Via Anyfin’s website or native iOS and Android apps, consumers can select their current loan provider from a dropdown menu, snap a picture of their statement, or upload it.
Anyfin then responds with feedback, which is often an option to refinance the loan with Anyfin at a new price.
With one tap, the consumer can accept the new option from Anyfin and the company takes care of settling the existing loan for them.
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