Stockholm, often described as the ‘Venice of the North’, is not just known for its beautiful archipelago and picturesque Gamla Stan. It is increasingly gaining global attention as one of the throbbing hearts of financial technology (FinTech) innovation. Numerous successful FinTech companies have been born in this capital city like Spotify, Skype, and Klarna, propelling Sweden to the position of the third largest country in Europe for FinTech investment, after the UK and Germany. Today’s article casts a spotlight on some prominent FinTech companies headquartered in Stockholm.
The mentioned companies operate in diverse sub-sectors within FinTech, demonstrating the broad spectrum of areas where financial technology extends its influence. From e-commerce and mobile payments, to online banking, and disrupting traditional banking systems, these companies are living proof of the myriad ways FinTech is revolutionising finance. The common thread linking these companies together is their commitment to delivering innovative, user-centred financial solutions by leveraging cutting-edge technology.
The companies included in this listing are ones that have made significant strides in their respective areas and are showcasing the potential of Stockholm as a FinTech hub. It is fascinating to see how these companies are shaping the future of the financial landscape not just in Sweden, but globally. Let’s delve into the specifics.
Co-founded by Alexandre Gonthier, Carl Wilsson, Joel Jacobsson, and Lukas Gratte, Trustly is built on the vision of a world where online payments are fast, simple, and secure for everyone. The company has made significant strides in making payments from bank accounts direct, secure, and easy. Trustly operates with thousands of banks across Europe and the US, providing trusted payment solutions for global merchants in four key segments: e-commerce, travel, financial services, and online gaming.
The brainchild of Evgenii Kondratev, Niklas Adalberth, Sebastian Siemiatkowski, and Victor Jacobsson, Klarna is an eCommerce payment solutions platform enhancing the shopping experience by offering flexible and secure payment options. Known for its pioneering “buy now, pay later” model, Klarna offers its shoppers interest-free financing for retail purchases.
Founded by Jacob De Geer and Magnus Nilsson, iZettle is helping small-business owners by reinventing technologies and banking services. As a trusted partner for businesses, it offers innovative solutions for payments at checkout, business management, sales analytics, customer engagement, and funding.
MAJORITY, co-founded by Johan Dahlqvist, Johan Granlund, and Magnus Larsson, offers digital banking services for migrants. By leveraging technology, this company provides comprehensive financial solutions that include FDIC-secured account, a VISA® debit card, ATM access, remittance services, international calling, and local discounts.
Ark Kapital, founded by Axel Bruzelius, Henrik Landgren, and Oliver Hildebrandt, is a precision financing company that enables technology businesses to grow faster, while reducing risk for investors. Their objective is to offer solutions that let the companies remain in control, and help investors to reduce risk.
Founded by Hjalmar Winbladh, Kees Koolen, and Lars Jörnow, EQT Ventures is a European venture capital fund with more than €2.3 billion in total capital raised. EQT Ventures supports bold and ambitious founders with capital and expertise to build global success stories.
Filip Polhem, Mikael Hussain, and Sven Perkmann are the founders behind Anyfin, a company driven by the vision of helping as many people as possible achieve the best possible financial situation. Using advanced technology, it creates fair, simple, and intelligent services that clients can leverage to get more from their finances.
Froda, co-founded by Marcus Mossberg, Martin Roxland, and others, is determined to transform the banking experience for businesses. Froda uses digital technology to offer an easy and low-cost way for entrepreneurs to finance growth of their businesses.
Co-founded by Cesar Sangchi and Jonas Suijkerbuijk, Billogram leverages smart technology to help companies automate payment processes, thereby saving costs while more importantly, improving customer relationships.
Launched by David Nangle, VEF creates value by lifting emerging markets’ financial tech companies. The investment company provides active investors with minority stakes, enriching their portfolio and fostering fintech growth in emerging nations.
Founded by a team including Aage Reerslev, Andreas Ehn, and others, Wrapp offers a unique and personalised reward system for purchases and customer loyalty. The Wrapp mobile application connects to users’ payment cards, learning about their buying behavior, and thus offering rewards from relevant brands.
In conclusion, this network of companies are the faces of change driving Stockholm’s FinTech scene. By leveraging modern technology to its full potential, these organizations are reinventing traditional financial systems and providing simple, effective and accessible solutions tailored for the modern user.