Anyfin raises €30M to improve financial well-being of Europeans

Swedish fintech startup Anyfin has raised €30 million in Series C funding to improve the financial well-being of Europeans.

Founded in 2017, the startup helps increase transparency in the financial service industry. Anyfin allows households to refinance their debts through a simple process.

Co-founder and CEO Mikael Hussain explained that his company had been born amid the rapid growth of credit debts among Swedish households. Hussain insisted that the high cost of living in Sweden put pressure on the people, forcing them to take these loans.

According to the Swedish Financial Supervisory Authority, about 20 percent of households in the country have difficulties covering their regular expenses with their salaries.

“See us as a major player in European fintech”

English venture capitalist Northzone, which also participated in Anyfin’s past funding rounds, led the latest capital-raising effort. Big startups like Spotify, Klama and Personio also participated in the Series C funding.

“The investment demonstrates that the financial industry is due for a significant realignment, in which consumers’ financial well-being comes first; we are very proud that both new and existing investors see us as a major player in European fintech,” Hussain said.

Northzone partner Jeppe Zink said his company invested in Anyfin for its capability of directly addressing high household debt issues with its refinancing solutions, adding that Anyfin could be considered a leader in the financial wellness industry — in Sweden and beyond.

Hussain explained that the new funding would be used to improve the scope and scale of Anyfin.

More than 500,000 users downloaded Anyfin’s mobile app in 2022. Anyfin now operates in Sweden, Finland, Norway, and Germany. Based on the firm’s data, its German operations saw a 15 percent average monthly growth and posted a 500 per cent annual growth by the end of 2022.