• Thousands of new customers each month have lowered loan interest rates by more than 50% on average
• Existing investors double-down on company as it accelerates German growth, having already saved customers $30 million 
• Service offerings in Germany to include interest-free cash advance, a budgeting tool, and a way to block shopping with credit

Anyfin, the startup that enables consumers to refinance existing loans and take control of their financial health, today announces $52 million of fresh funding to fuel the growth of its business across Europe. The capital will enable Anyfin to expand its service offering to Germany, set up a new Berlin office -- its first outside of Sweden -- and strengthen its local team. In addition, Anyfin will launch its new saving service for consumers across Germany, Sweden, and Finland, with plans to expand across Northern Europe. Anyfin’s in-app savings accounts will enable consumers to easily and intuitively manage their money without any financial expertise.

The unprecedented uptake of e-commerce -- whereby online shopping has become mainstream across all generations -- during the pandemic and the proliferation of Buy Now, Pay Later payment options have only made Anyfin’s services more relevant and necessary. With the upcoming European expansion, Anyfin’s addressable market has increased to $413Bn of volume over the next 18 months, of which $258Bn is in Germany. The total amount of outstanding unsecured consumer credit within Europe currently amounts to $1,200Bn.

Leading the new financing is existing New York-based investor FinTech Collective. Existing investors Accel, EQT Ventures, Northzone, and Global Founders Capital (GFC) also participated in the round. Two new investors joined the syndicate: Quadrille Capital in France, and Augmentum FinTech in the UK. This takes the total equity capital raised to $101m. In addition, the company has raised over $500m of debt capital from a diverse group of undisclosed lenders. 

The increased investment in Germany will include rolling out service offerings currently available in Sweden, such as an interest-free cash advance, a budgeting tool, and a way to block shopping with credit -- an increasingly pervasive problem in this age of online shopping. Already, every month, thousands of new customers lower loan interest rates by more than 50% on average, thanks to Anyfin -- a strong foundation for the company’s German expansion.

“We’re very proud that our four years of demonstrated success in the Nordics has inspired a new group of investors that we have what it takes to become a major fintech player in Europe,” said Mikael Hussain, CEO and co-founder of Anyfin. “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.” 

Anyfin was launched in 2017 by Mikael Hussain (CEO), Sven Perkmann (CTO) and Filip Polhem (COO), who together bring more than two decades of experience in helping to build some of Sweden’s leading technology success stories at Klarna, Spotify, and iZettle. They have continued to surround themselves with experts in design, programming, artificial intelligence (AI), and credit counselling. Now, they will add local German talent to help continue their mission to solve one of the biggest financial issues facing European consumers: unfairly high interest rates. Since launching, Anyfin has saved customers $30 million.

Using loan data with publicly available consumer data and AI, Anyfin’s proprietary platform enables consumers to refinance their existing installments, credit cards and personal loans within seconds — based on their actual risk profiles. Via Anyfin’s website or native iOS and Android apps, consumers can select their current loan provider from a dropdown menu, snap a picture of their statement or upload it. Where possible, users receive a refinancing offer from Anyfin with a lower interest rate. Anyfin’s offer can be accepted with one tap, at which point the existing loan is settled directly with the original lender and the individual’s outstanding balance moves over to Anyfin with the improved terms. 

“With global e-commerce booming during the pandemic, growing by +39% YoY in Q1 2021 and the explosion of European BuyNowPayLater (“BNPL”) solutions, Anyfin’s opportunity to help fix mis-priced credit across Europe is now a step change larger than when we first gained conviction on the opportunity at Anyfin’s Series A” said Gareth Jones, Co-Founder and Managing Partner of FinTech Collective.“With Anyfin’s continued exceptional execution we could not be more excited to be leading this round of financing to allow Anyfin to continue their mission of helping hardworking Europeans  take control of their financial past, present and future”

• Best-in-class customer satisfaction with 4.7/5 Trustpilot score and 4.9/5 iOS rating
• Secured over $500m of scalable and cost efficient funding from a diversified lender group