Stockholm-based Anyfin, a fintech app that empowers people to understand and improve their finances, announced that it has raised €30M in a Series C round of funding. With this, the scale-up has now raised nearly €106M in debt and equity rounds.
The round was led by existing investor Northzone, alongside Accel, EQT Ventures, FinTech Collective, Quadrille Capital and Augmentum FinTech. New investor Citi Ventures also participated in the round.
Jeppe Zink, Partner at Northzone and Board member at Anyfin, says, “Overpayment for consumer financial services, fuelled by the opaqueness of the existing financial service industry, is perhaps the most valuable pain point which fintech can solve. Anyfin is addressing this head-on with its re-finance proposition. Customers love their service, making it a leader in the financial wellness category.”
An app that helps improve your finances
Launched in 2017 by Mikael Hussain, Sven Perkmann and Filip Polhem, Anyfin offers financial services, including simplifying the process of refinancing debt, and helping users access fair interest rates on their existing credit. The founders of the company have two decades of experience at tech giants like Klarna, Spotify, and iZettle.
Anyfin’s platform helps consumers to refinance existing instalments, credit cards, and personal loans, based on their actual risk profiles. Currently, it operates in Sweden, Norway, Finland, and Germany.
Since the fintech’s launch in Germany in March 2021, it claims to have witnessed a 15 per cent average monthly growth rate and 5X growth in 2022. The company’s mobile app has been downloaded more than 1M times, with more than 500,000 downloads in 2022.
The company mentions in a statement that it has already saved its customers a combined €68M, lowering the average user’s loan costs by 50 per cent.
Capital utilisation
Anyfin says it will use the funds to accelerate expansion across Europe. The capital will help the scale-up to further strengthen its product suite in existing markets across Europe, and accelerate the development of new technology to help consumers save money and improve their financial wellbeing.
CEO and co-founder Mikael Hussain, says, “With the current cost of living crisis putting increasing pressure on household finances, what we do is more valuable than ever for consumers, and this new capital will enable us to continue improving the scope and scale of our offering. The investment demonstrates that the financial industry is due for a significant realignment, in which consumers’ financial wellbeing comes first; we are very proud that both new and existing investors alike see us as a major player in European fintech.”
