Bricknode, a brokerage-as-a-service platform, has secured a SEK 2.5m ($2.3m) loan from its founder and co-CEO Stefan Willebrand, co-CEO Erik Hagelin and Chairman Robert Lempka.
This loan will support Bricknode’s path to profitability. The loan term is one year and has an interest rate of 1.5% per month.
Bricknode founder and co-CEO, Stefan Willebrand said, “We’re pleased with the progress we’ve made in streamlining our business, and this loan will provide additional support as we forge ahead with a strong sales pipeline.
“We were glad to announce two new wealth customers in two weeks during December, and intend to carry this momentum into the new year.”
In August 2022, Bricknode announced a cost reduction plan to reduce risk for the company. This plan has already helped Bricknode lower its monthly burn rate, it said.
Bricknode empowers clients to create their own digital financial institution by assembling it through the Bricknode core platform and leveraging its APIs.
Late last year, Vator Securities, a corporate finance and advisory service provider, picked Bricknode’s investment management platform to administer share issues.
By leveraging Bricknode’s technology, Vator can administer its share issues with an automated digital investment platform, maintaining share ownership records and fulfilling operational processes.
FinTech Global recently spoke to Willebrand and Hagelin about how Bricknode has established itself as the building blocks of digital investments and lending products.
Hagelin said, “If you want to launch a product that is going to be well received in the market and be a valuable service, it needs to be accessible, transparent, cost effective, efficient, easy to use, and more. We are very picky today as the end client. To be able to offer all of that you need to have a value chain in place, under the hood, with all the infrastructure and everything to support that.”
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