Klarna raises $650m funding at $10.6bn valuation
It has doubled its value which was previously set at $5.5 billion just over a year ago.
Sweden
Klarna set to nearly double valuation to $10bn
Klarna is looking to raise half a billion from a mixture of new and old investors.
Swedish Export Credit Corporation picks FIS for loan origination
SEK picks Commercial Loan Origination and FIS Ambit.
Klarna’s losses widen following first year of negative profit
Profits have been slowly declining for the company.
Lunar picks Nordic API Gateway to enable account aggregation
Danish challenger bank claims to be pioneer with new service.
Nordic fintech Open Payments raises €3m in second seed round
The firm plans an EU expansion in 2021.
Tink continues acquisition play with credit decisioning platform Instantor
Instantor employees a team of 26.
Sopra Banking Software taps Tink’s data channel
Sopra Banking Software serves roughly 1,500 banks and financial institutions.
Resurs Bank’s new CEO prioritises open banking
The Swedish bank has roughly 6.2 million customers.
SEB fined $107m by regulator for Baltic AML failures
The Swedish bank failed to identify risk among its subsidiaries.
Vermiculus launches trading and clearing systems tech
The Swedish company has also appointed Taraneh Derayati as its chief executive officer.
Klarna dips its toe in the savings market with Raisin
Offerings range to terms of up to 48 months.
SaaS provider Bricknode buys Lendysoft lending platform
The acquirer wants to boost revenues by 25%.
Tink lands second strategic investment from PayPal
As part of the deal Tink will cover all countries in EEA for PayPal.
Nordea-backed subscription manager Subaio lands challenger bank Lunar
The Nordic bank has 150,000 customers.
Nordea partners up with Tink on open banking
It’s set to launch for the bank’s users in Norway, Finland and Denmark “in the coming months”.
Swedish financial regulator picks BearingPoint to boost data analysis
The Financial Supervisory Authority plans to digitise EBA, EIOPA, and ESMA reporting data.
Nordic API Gateway lands $5m from Danske Bank and DNB
The fresh capital will initiate an “aggressive growth” plan to achieve pan-European coverage.
Swedish fintech Bokio lands $8m and merges with competitor Red Flag
The fintechs will have a combined user base of more than 80,000 customers.
Klarna exec jumps back into banking as CIO of Bluestep Bank
Klarna’s former VP of Engineering says he can’t wait to build “a mortgage bank for all”.
Nordea helps suppliers to get paid early amid coronavirus
Suppliers will benefit from “several hundred million euros” early.
Minna Technologies pilots subscription management for RBI’s Tatra banka
The pilot is part of RBI’s ‘Elevator Lab Programme’.
Swedish central bank signs agreement to join TIPS from 2022
Swedish krona to be settled by EU-wide payments scheme in a few years’ time.
Nordic challenger Lunar adds $21.6m to its Series B
Monzo’s former head of product Ole Mahrt will also join its board of directors.
Wirecard strikes again with Klarna payments partnership
Also this week, Wirecard teamed with Southeast Asian ride-sharing firm Grab.
China’s Ant Financial buys small stake in Swedish unicorn Klarna
Klarna is already embedded into Alibaba’s AliExpress.
Europe’s joint largest fintech start-up Klarna reports its first annual loss
The operational loss is down to its US expansion and its set up of a Berlin-based tech hub.
Sweden starts piloting e-krona on R3’s Corda platform
Sweden’s CBDC is using R3’s Corda Enterprise Blockchain platform.
GCC Capital AB picks BearingPoint for EBA reporting requirements
Swedish lending firm to deploy Abacus360 system on an outsourced basis.
Swedbank partners SIA and TietoEVRY for RT1 payments
30 million payments have already been made on the new system.
Nordic API Gateway CEO: Fintechs trying to be European too fast
“Open banking has a tendency […] to do stuff globally or do it pan-European,” says CEO.
Swedish consumer champion Woilà raises $3.1m
“You have most likely been screwed,” says co-founder on people’s previous purchases.
Klarna lands $200m from CBA for Australia launch
CBA will own half of Klarna’s Australian and New Zealand business.
Central banks in Europe, Japan and Canada assess potential digital currencies
Central banks in Canada, the UK, Japan, Switzerland, and Sweden are teaming up.
Swedish mobile loan app Bynk rebrands to neobank Rocker
The fintech is launching in wider Europe and plans for listing.
Nets acquires Finnish firms Poplatek and Poplapay
Nordic payments group snaps up new firms to boost terminal services.
API builder Tink launches in Italy and Portugal, opens Madrid and Milan offices
Tink has bagged transaction data from 32 FIs across the regions.
Swedish AI start-up Bokio raises €4m led by local investor Creandum
The start-up uses AI to simplify bookkeeping for small businesses.
IMF to put Nordic banks’ AML controls under microscope
International regulator investigates banks’ alleged failings.
Swedish neobank Northmill appoints new chief analytics officer from Swedbank
Georges Mansourati spent eleven years at Swedbank.
