Sweden-based digital bank Northmill raises $30M

Feb 09, 2021 · 1 min read
Sweden-based digital bank Northmill raises $30M
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Northmill Bank is a Swedish financial powerhouse with over 200,000 subscribors in Scandinavia.

With a round of funding led by M2 Asset Management, a popular Swedish startup accelerator, an injection of over $30 million will fill the company’s coffers. This capital will supposedly be used to help expand into Norway.

As it stands, 2006-founded Northmill is available in Sweden, Norway and Finland, where it competes with pjysical banks that don’t have the same online presence.

Founded nearly 15 years ago and is a secured and regulate credit provider, authorized by the Swedish Financial Supervisory Authority. The bank employs 150 people and offers savings, credits, payments and insurances.

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