Augmentum Fintech has made its first foray into the Swedish market with a $10m (£7.3m) investment into Stockholm-based consumer credit refinancing company AnyFin.
The UK’s only publicly listed investment firm focused on the fintech sector, which has a stake in peer-to-peer lender Zopa, said that the investment will help AnyFin expand into other geographies and products.
The investment follows Anyfin’s $30m series B round in May 2020.
Anyfin was founded in 2017 by former executives of Klarna, Spotify and iZettle, and operates in Sweden, Finland and Germany. It offers consumers the opportunity to consolidate and refinance existing credit agreements with improved interest rates and use smart budgeting tools.
“We are delighted to join Anyfin’s investment round, which will allow this hugely experienced and talented team to continue to address Europe’s large ($1.2trn) and fragmented unsecured credit market,” said Tim Levene, chief executive of Augmentum Fintech.
“Their focus on improving the financial well-being of consumers through innovative digital products is a mission that resonated strongly with us. We look forward to working with them as they achieve their vision over the coming years which includes a wider product offering and growth across Europe”.
Levene said that the success of the fundraise reflected increasing awareness amongst investors of the growing opportunity presented by fintech.