Anyfin, the Stockholm-based startup that consumers can use to refinance their existing loans, has raised $ 30 million in funding.
At the top of the B series is EQT Ventures, with the participation of existing investors Accel, Northzone and Rocket Internet & # 39; s Global Founders Capital (GFC). Anyfin says it will use the investment to “drive product innovation”, launch additional offerings and open new European markets (Fintech is currently active in Sweden and Finland).
Founded in 2018 by Mikael Hussain (CEO), Sven Perkmann (CTO) and Filip Polhem (COO), Anyfin is on a self-described mission to improve Europeans' financial wellbeing and "give them back control of their finances". This is done through a digital loan platform that focuses on refinancing. The idea is to make it easier to refinance (or consolidate) loans and credit cards competitively, and therefore not to be cheated with high interest rates or compound interest.
Via the Anyfin website or via iOS and Android apps, consumers can select their current loan provider from a drop-down menu, take a picture of their statement or upload it. Anyfin will then provide feedback, including, if applicable, the option to refinance at a "fair" price. “With just a tap, consumers can accept Anyfin's new option and the company takes care of paying the existing loan for them,” explains Fintech.
Behind the scenes, Anyfin claims to use AI, combined with publicly available consumer data and information obtained by taking a photo of your existing credit statement or uploading an electronic copy, including your repayment history. This gives it a more complete picture than your credit standing alone, which is probably the main data point used by the original lender.
"All the consumer has to do to save a lot of money is to take a picture of the credit card statement or statement, and we'll do the rest," Mikael Hussain, co-founder and CEO of Anyfin, told me in early 2018. The customer sends us their picture, we use OCR to obtain the required data, to guide them through our risk algorithms and to give the consumer an individual price on this basis. "
Ashley Lundström, deal partner and investment advisor at EQT Ventures: “The Anyfin team is one of the most experienced and ambitious fintech teams that the EQT Ventures team came across. However, what really impressed us was that Mikael, Sven, Filip and the outstanding team that they built around them are really value-driven. They are in the game for the consumer, and that has never been more important. At EQT Ventures, we believe that direct consumer focus is a sustainable way to build healthy business. So we were obviously thrilled to find the combination of technical DNA, market validation and heart in Anyfin. "