Stockholm FinTech Anyfin Raises $52M for German Expansion

Swedish FinTech startup Anyfin raised 44.8 million euro ($52 million) in a Series B funding round that will be used to expand its business across Germany and Northern Europe, according to a Tuesday (Oct. 5) press release.

Anyfin gives consumers the ability to refinance existing loans while also managing their financial health. The new infusion of capital was led by FinTech Collective, with participation from Accel, EQT Ventures, Northzone and Global Founders Capital (GFC). New backers included Quadrille Capital and Augmentum FinTech.

This latest round of funding brings the total equity capital raised to 87 million euro ($100 million), on top of the 431 million euro ($497 million) of debt capital raised from a diverse group of undisclosed lenders. The European market for outstanding unsecured consumer credit totals more than 1.03 trillion euro ($1.19 trillion).

Part of the funds will be earmarked to help Anyfin expand into Germany with an office in Berlin and introduce its new savings product to Germany, Sweden and Finland. The startup also has plans to expand across Northern Europe.

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New offerings in Germany will include products that are already available in Sweden, like interest-free cash advances and budgeting tools.

Mikael Hussain, CEO and co-founder of Anyfin, said that the company’s four years of “demonstrated success in the Nordics” has attracted new investors, which is a sign that the company can “become a major FinTech player in Europe.”

“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,” Hussain said.

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Founded in 2017 by Hussain, who serves as CEO, Sven Perkmann, CTO, and Filip Polhem, COO, Anyfin has a cumulative expertise of over 20 years and has helped create the technology that powers Sweden’s Klarna, Spotify and iZettle.