Anyfin, the Stockholm-based startup that permits customers to refinance their present loans, has raised $30 million in funding.
Leading the Series B spherical is EQT Ventures, with participation from present traders Accel, Northzone and Rocket Internet’s Global Founders Capital (GFC). Anyfin says it’ll use the funding to “drive product innovation”, launch further choices and scale into new European markets (at the moment, the fintech operates in Sweden and Finland).
Launched in 2018 by Mikael Hussain (CEO), Sven Perkmann (CTO) and Filip Polhem (COO), Anyfin is on a self-described mission to enhance the monetary wellbeing of Europeans and “put them again accountable for their funds”. It does this by means of a digital lending platform targeted on refinancing. The concept is to make it simpler to competitively refinance (or consolidate) loans and bank cards and due to this fact not get ripped off with excessive rates of interest or compound curiosity.
Via Anyfin’s web site or iOS and Android apps, customers can choose their present mortgage supplier from a dropdown menu, snap an image of their assertion or add it. Anyfin then provides suggestions, together with, the place relevant, the choice to refinance at a “fairer” value. “With one faucet, the patron can settle for the brand new possibility from Anyfin and the corporate takes care of settling the prevailing mortgage for them,” explains the Swedish fintech.
Behind the scenes, Anyfin claims to make use of AI, mixed with publicly out there client knowledge and knowledge garnered by means of speaking a photograph of your present mortgage assertion or importing an digital copy, together with your compensation historical past. This, it says, provides it a extra full image than your credit score rating alone, which is probably going the principle knowledge level utilized by the unique lender.
“All the patron has to do to save lots of a bunch of cash is to snap an image of the bank card invoice or mortgage assertion and we do the remaining,” Anyfin co-founder and CEO Mikael Hussain instructed me in early 2018. “When a buyer sends us their image we use OCR to get the info we’d like, run that by means of our threat algorithms and, primarily based on that, give the patron a person value”.
Cue assertion from Ashley Lundström, deal accomplice and funding advisor at EQT Ventures: “The Anyfin group is among the most skilled and impressive fintech groups that the EQT Ventures group has come throughout. But what actually impressed us was that Mikael, Sven, Filip and the stellar group they’ve constructed round them are really value-driven. They’re within the sport for the patron, and by no means has this been extra necessary. At EQT Ventures we imagine that squarely aligning with customers is a sustainable path to constructing a wholesome enterprise – so we had been clearly thrilled to seek out the mix of tech DNA, market validation, and coronary heart in Anyfin.”