Swedish credit refinancing firm Anyfin has secured €44.8m in a funding round led by New York-based FinTech Collective.
Also taking part in the financing were Accel, Northzone, Global Founders Capital, EQT Ventures, Quadrille Capital and Augmentum FinTech – with Anyfin recently raising €10m from the latter firm. Anyfin has also raised $431m of debt capital.
Founded in 2017, Anyfin helps consumers secure lower interest rates on their loans. The company’s technology aids consumers deemed creditworthy to consolidate and refinance existing credit agreements with better interest rates.
According to EU Startups, the fresh capital will enable Anyfin to expand its service offering to Germany as well as set up a new Berlin office and strengthen its local team. The company also intends to launch its new saving service for consumers across Germany, Finland and Sweden, with further intentions to expand across Northern Europe.
With Anyfin’s increased investment in Germany, the company also plans to roll out service offerings currently available in Sweden in the German market – these include interest-free cash advance, a way to block shopping with credit and a budgeting tool.
Anyfin CEO and co-founder Mikael Hussain said, “We’re very proud that our four years of demonstrated success in the Nordics has inspired a new group of investors that we have what it takes to become a major fintech player in Europe.
“We see the German market, which within the next couple of months will become our biggest market, as a place to show just how much we can help consumers escape the burden of debt and turn the tables on credit institutions that aren’t serving them. This investment represents growing momentum around the idea that the financial industry is due for a massive realignment, in which consumers’ financial wellbeing comes first.”
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