Norway is home to over 120 fintech companies with the vast majority of solutions available right now focusing on mobile payments and online banking, though other segments such as data and analytics, insurtech, data and analytics, and wealthtech, are also represented, data from TheFactor, a fintech and proptech incubator and accelerator, show. Several Norwegian fintechs have grown to notable size, attracting the interest of foreign investors and expanding overseas. To get a sense of Norway’s biggest, most successful fintech companies, we’ve compiled a list of six Norwegian fintechs that have recorded strong growth, made notable strides this past year, and…

Finland is home to more than 200 fintech companies, which have raised a combined EUR 450 million in funding, and generated EUR 1.3 billion in revenue in 2019, data from industry trade group Fintech Farm Helsinki show. These fintechs have grown tremendously over the past years, with several of them expanding overseas and reaching global recognition. To get a sense of Finland’s biggest, most successful fintech companies, we’ve compiled a list of nine Finnish fintechs that have demonstrated strong growth and which deserve to be followed very closely. For this list, we’ve selected independent, private Finnish fintech companies and excluded…

Returpack, a Swedish privately owned company that aims to increase recycling, has selected fintech startup Payer to develop a new IoT technology with the aim to create an easy digital payout experience for consumers. Payer was chosen to develop the core engine, a machine-to-consumer, digital payout solution directly to the consumers’ bank account that was built using Payer’s modular API payments platform. The digital solution is now being rolled out across Sweden. In the first roll-out phase are 57 machines, designed to receive bulk deposits. The solution works in a combination of the machine, the cloud and a mobile app.…

Finland-based mobile payments platform ePassi has launched a unique collaboration with Finnair where members of their frequent flyer program can now pay for services with Finnair Plus points at the former’s merchant sites around Finland. ePassi, operating in Finland and Sweden, currently has 1.5 million users and 35,000 merchant sites in the Nordic countries. Payments can be made using the ePassi mobile app at the checkout of the chosen site. The collaboration will be further expanded to include thousands of restaurants towards the summer of 2021. ePassi and Finnair expect the service to gain popularity among a vast group of…

Meniga, a provider of digital banking solutions founded in Iceland, announced that it has closed a €10 million strategic investment round. The round was led by institutional investors, Velocity Capital Fintech Ventures, and Frumtak Ventures. Other participants in the round include Industrifonden, the UK Government’s Future Fund, and existing customers UniCredit, Swedbank, Groupe BPCE, and Íslandsbanki. Meniga said that the funding will be used for continued investment in Meniga’s R&D activities, and in particular the development of innovative green banking products. Additionally, the new injection of investment will help strengthen Meniga’s sales and service teams. In 2020, Meniga said that…

Nordic-based card issuing and payment processing services provider Enfuce has raised €7 million in Series B funding led by Tencent who had invested €5 million in the company. Meanwhile, Enfuce’s prior investors Maki.vc invested the other €2 million, bringing the total amount raised by the company to €15 million so far. With the investment, Enfuce is set to gain more growth in Europe as well as globally, and explore the opportunities of company acquisitions to speed up growth. Enfuce reportedly has a global customer base spanning 16 countries to provide innovative payment, open banking, and sustainability services for corporates and…

Opera Limited, a browser provider headquartered in Oslo, announced that it has hired PayPal veteran Allen Hu as the new Executive Vice President (EVP) of Dify, which is the browser’s fintech arm. An expert in financial technology and payments, Allen Hu will lead the Dify business. He brings a wealth of experience from nearly ten years at PayPal, where he was Regional Head of Global Core Payments, based in California. Hu gained expertise in fintech as a Venture Partner in Sequoia Capital China, where he focused on investments in the fintech sector. Prior to that, he was the General Manager…

The Danish fintech startup scene has grown significantly over the last few years, rising from only 70 fintech companies in 2015 to more than 250 in 2021, according to numbers from industry trade group Copenhagen Fintech. In 2020, Danish fintechs raised a record of 2.588 billion DKK (US$427 million), up 82.25% from the previous year at 1.42 billion DKK (US$234 million). The 2020 Tradeshift deal (1.650 billion DKK or US$272 million) alone accounted for more than half of all funding raised by Danish fintech companies that year. As the sector continues to grow and mature, the number of partnerships between…

Iceland’s financial services industry has changed rapidly over the past couple of years with fintech solutions at the forefront of these changes. Innovative fintech solutions are provided by the three largest commercial banks in the country, namely Landsbankinn, Íslandsbanki, and Arion Bank, but also by a growing list of independent businesses and startups which are leveraging cutting-edge technologies including artificial intelligence and blockchain to reinvent the sector. The following are 9 fintech startups in Iceland to keep a close eye on. Meniga Founded in 2009, Meniga provides white-label digital banking solutions. Its award-winning products enable the world’s largest financial…