kompasbank lands DKK92m to expand business lending

kompasbank

kompasbank, a Danish commercial bank dedicated to SMEs, has closed a capital round of DKK92m.

The company previously completed a Series A round in 2021, when it raised a total of DKK215m. It has raised more than DKK300m since receiving the banking licence.

The capital increase, which was driven by both new and existing investors, gives the bank the opportunity to expand its customer relationships and provide additional services to SMEs in Denmark.

Michael Hurup Andersen – co-CEO and founder of kompasbank – said, “In 2022, we have sought to make it clear that by listening to the needs and wishes of small and medium-sized companies, we can deliver a value proposition that, in the combination of technology, banking, data and products, can solve the challenge that Danish SMEs have with better and faster access to loans and financing.

“At the same time, we have shown that there is demand for our concept and that we can create profitable customer relationships from day one.

“We are very pleased with the support that both existing and new investors have shown us in 2022. It is a recognition of the results that the team has managed to create in our first full year of operation and an indication that investors can visualize the sustainability in our business model.

“It is no secret that in the capital increase, significant emphasis has been placed on three elements in particular. The growth of our existing customer relationships; our independent platform as well; our opportunity to scale the business significantly in the future.

“Both our deposit and loan customers have shown us trust and patience in the past year, and we will stand on our heads to be able to maintain the long-term customer relationships, while at the same time we hope and believe that more and more customers will find their way to kompasbank , among other things through references that we can already observe, is a major source of our customer approach.

“With kompasbank navigator, we provide an overview of and access to all the digital solutions SMEs need to be able to run their business sales-focused, investment-ready and efficient. We can see that with a navigator and easy access to financing, we can help SMEs to increase their competitiveness and fulfill their growth ambitions – precisely when the opportunities are there.”

Brazil-based FinTech company Transfeera has reportedly raised BRL 7m ($1.3m) in funding.

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