Anyfin secures additional $52 million investment to scale its business in Germany and accelerate expansion across Northern Europe
Anyfin AB -
Anyfin secures additional $52 million investment to scale its business in Germany
- Thousands of new customers each month have lowered loan interest rates by more than 50% on average
- Existing investors double-down on company as it accelerates German growth, having already saved customers $30 million
- Service offerings in Germany to include interest-free cash advance, a budgeting tool, and a way to block shopping with credit
The unprecedented uptake of e-commerce -- whereby online shopping has become mainstream across all generations -- during the pandemic and the proliferation of Buy Now, Pay Later payment options have only made Anyfin’s services more relevant and necessary. With the upcoming European expansion, Anyfin’s addressable market has increased to $413Bn of volume over the next 18 months, of which $258Bn is in Germany. The total amount of outstanding unsecured consumer credit within Europe currently amounts to $1,200Bn.
Leading the new financing is existing New York-based investor FinTech Collective. Existing investors Accel, EQT Ventures, Northzone, and Global Founders Capital (GFC) also participated in the round. Two new investors joined the syndicate: Quadrille Capital in France, and Augmentum FinTech in the UK. This takes the total equity capital raised to $101m. In addition, the company has raised over $500m of debt capital from a diverse group of undisclosed lenders.
The increased investment in Germany will include rolling out service offerings currently available in Sweden, such as an interest-free cash advance, a budgeting tool, and a way to block shopping with credit -- an increasingly pervasive problem in this age of online shopping. Already, every month, thousands of new customers lower loan interest rates by more than 50% on average, thanks to Anyfin -- a strong foundation for the company’s German expansion.
“We’re very proud that our four years of demonstrated success in the Nordics has inspired a new group of investors that we have what it takes to become a major fintech player in Europe,” said Mikael Hussain, CEO and co-founder of Anyfin. “We see the German market, which within the next couple of months will become our biggest market, as a place to show just how much we can help consumers escape the burden of debt and turn the tables on credit institutions that aren’t serving them. This investment represents growing momentum around the idea that the financial industry is due for a massive realignment, in which consumers’ financial wellbeing comes first.”
Anyfin was launched in 2017 by Mikael Hussain (CEO), Sven Perkmann (CTO) and Filip Polhem (COO), who together bring more than two decades of experience in helping to build some of Sweden’s leading technology success stories at Klarna, Spotify, and iZettle. They have continued to surround themselves with experts in design, programming, artificial intelligence (AI), and credit counselling. Now, they will add local German talent to help continue their mission to solve one of the biggest financial issues facing European consumers: unfairly high interest rates. Since launching, Anyfin has saved customers $30 million.
Using loan data with publicly available consumer data and AI, Anyfin’s proprietary platform enables consumers to refinance their existing installments, credit cards and personal loans within seconds — based on their actual risk profiles. Via Anyfin’s website or native iOS and Android apps, consumers can select their current loan provider from a dropdown menu, snap a picture of their statement or upload it. Where possible, users receive a refinancing offer from Anyfin with a lower interest rate. Anyfin’s offer can be accepted with one tap, at which point the existing loan is settled directly with the original lender and the individual’s outstanding balance moves over to Anyfin with the improved terms.
“With global e-commerce booming during the pandemic, growing by +39% YoY in Q1 2021 and the explosion of European BuyNowPayLater (“BNPL”) solutions, Anyfin’s opportunity to help fix mis-priced credit across Europe is now a step change larger than when we first gained conviction on the opportunity at Anyfin’s Series A” said Gareth Jones, Co-Founder and Managing Partner of FinTech Collective.“With Anyfin’s continued exceptional execution we could not be more excited to be leading this round of financing to allow Anyfin to continue their mission of helping hardworking Europeans take control of their financial past, present and future”
- Best-in-class customer satisfaction with 4.7/5 Trustpilot score and 4.9/5 iOS rating
- Secured over $500m of scalable and cost efficient funding from a diversified lender group
Anyfin is a fintech company on a mission to help improve people’s finances. The company started out in 2017 by simplifying the process of refinancing debt, helping thousands access fair interest rates on their existing consumer credits. Since then, Anyfin has expanded to Finland and Germany and launched several new financial services in their app. For more, visit www.anyfin.com.
About FinTech Collective
FinTech Collective is a global venture capital firm backing entrepreneurs who are rewiring the way money moves through the world. Founded in 2012 and based in New York City, the firm has deep experience investing across capital markets, wealth management, banking, lending, payments, insurance, and DeFi. Backed by some of the world’s leading institutional investors, FinTech Collective manages over $500m in assets and has invested in 57 portfolio companies. The managing partners of FinTech Collective met in their mid 20’s and helped build, scale, and successfully exit four fintech businesses. A weekly client newsletter is available at fintech.io/newsletter.
About Quadrille Capital
Based in Paris and San Francisco, Quadrille Capital is an independent investment firm focused on technology and healthcare in the United States, Europe and China. Quadrille Capital has four investment solutions: investments in private companies, commitments in growth equity and venture capital funds, secondary investments in funds and private companies, and long-only public equity funds.Quadrille manages nearly €1.3 billion for institutional investors and sophisticated family offices in Europe, the UK, the Americas and the Middle East.