Swedish refinancing start-up Anyfin eyes European expansion with €8m investment
Stockholm-based loan refinancing start-up Anyfin aims to launch into Northern Europe following an €8 million extended Series A round, reports Jane Connolly.
“Unsecured consumer credits are growing at an increasing rate”
FinTech Collective participated in the round, along with existing investors Northzone, Accel and Global Founders Capital. Christoffer Norman from Northzone will join the Anyfin board.
Anyfin uses artificial intelligence, mobile technology and leveraging consumer data to offer consumers ways to refinance their existing loans, credit cards or instalment purchases.
Consumers can simply send a photo of their loan statement or log into their previous loan provider, receiving an offer from Anyfin to refinance the loan at a better price within seconds.
Within a year, the company – founded by former employees of Klarna, iZettle and Spotify – has nearly tripled its team to 22 staff and added significant new hires from those tech companies.
“Unsecured consumer credits are growing at an increasing rate,” says Anyfin founder and CEO, Mikael Hussain. “Most customers are paying far too much interest on these loans – often in excess of 25% annually on part payments and credit cards, even for those with good credit scores.
“Typically, we’re able to cut the cost of financing by more than half. Even our customers ask us, what’s the catch? But really, we are on a mission to put the power back in the hands of the consumer, making it as simple as possible to refinance a loan and giving consumers the rate the deserve.”
Currently only available in Sweden, Anyfin has raised €13.3 million to date and will now develop the product further in preparation to launch in Northern Europe.
