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Nordic Fintech Highlights – May 2024

Nordic Fintech Highlights | May 2024

Nordic Fintech Highlights – May

It’s time for the fifth highlights of 2024 – in May, we saw further big funding rounds, proving that the fintech scene is truly blooming this spring. Notably, most of the funding rounds went to Sweden, with Denmark’s ZTLment being the sole non-Swede in the list.


Meanwhile, the other Nordic countries picked the slack in partnerships, keeping the number of new partnerships forged steady.


May in brief

Let’s unwrap what happened in fintech and finance in the Nordics in May. You may also want to check out our podcast with Fintech Daydreaming, where we dive deep into a few specific monthly topics.



This spring has shown a significant upswing in round sizes, and May did not disappoint.

It’s been a while since we’ve seen impact fintechs in the funding rounds. Could this signal a longer-term change in trend? €140 million is certainly impressive!


As usual, payments, and especially A2A, continue to be in focus. Several RegTech partnerships put the category in a close second place.

Overall, pan-Nordic collaboration is in the air.


Traditional banks were not as visible this month as in April.

Aktia and Swedbank have partnered in Finland, with Aktia taking over cash management and payment services, and offering leasing and invoice financing to Swedbank’s corporate clients.

Danske Bank has invested in United Fintech to enhance its digital transformation strategy and collaborate with fintech firms.

The Finnish Central Criminal Police (KRP) is investigating Oma Säästöpankki for securities market offenses after the bank reported guideline violations that increased credit risk.


Nordic Fintech Highlights | May 2024 | Statistics

Have a look at the news from May below and stay tuned for more!

You can find all the monthly Nordic Fintech updates from the past over here.


Country specific news



Basware acquires AP Matching

Swedbank enters strategic partnership with Aktia in Finland

Deloitte and Basware form e-invoicing alliance

Polar introduces Payment Wristbands Powered by Fidesmo

Geldmaat renews ATM Software-as-a-Service contract with Tietoevry

Oma Savings Bank Plc issues a EUR 250 million covered bond in a tap issue



Copenhagen-based ZTLment secures €2.4 million to replace outdated banking infrastructures

Swish is launched at Lunar

Softpay Tap-to-Pay App now available on iMin devices

EFG Hermes acquires minority stake in Danish fintech Kenzi Wealth

Nets joins forces with Klarna

Digmi enters partnership with Softpay to scale up

Lego exec Anders Kirketerp-Møller joins Muinmos board

Danske Bank invests in United Fintech

Flatpay and Lassie among the top 10 European fintechs with the fastest-growing teams

Konsolidator completes private placement

Pleo secured €40M in debt financing from HSBC Innovation Banking to level up their credit offering



Cloover closes $114M founding round

Deedster helps financial institutions to meet ESG goals – Secures MSEK 15 to accelerate growth

Fintech targeted by climate skeptics banks $37 million from likes of UBS, CommerzVentures

Insurance Innovator Ebie Secures Funding for Expansion

Swedish fintech raises €1.7 million to expand its AI platform for investment banks and management consultants

Majority raises $20m for migrant banking platform

SAVR secures strategic backing from Incore Invest to enhance Nordic investment platforms

Trine closes €21M in late VC

Klarna launches Pay in 3 service in Slovakia

AMLYZE and Aura Cloud partner to enhance financial crime prevention

SONIO and Tink join forces

payabl. joins forces with Zimpler

Bluestep Bank issues Tier 2 notes in SEK

Dooba Finance AB (publ) issues bonds of SEK 600 million within its new SEK 800 million framework.

Investment AB Latour (publ) issues bond loans

Klarna reports profitable start to the year as listing rumours mount

Kvika completes tap issue in SEK

Storskogen successfully issues bonds of SEK 1.25 billion to finance the partial tender offer

Allshares Forges Ahead as European Compensation Software Leader with Novare Pay Acquisition

Flatpay and Lassie among the top 10 European fintechs with the fastest-growing teams



IDEX Biometrics to launch its solutions in South Asia

Reltime Enables Merchants to Accept Payments in Digital Currencies and CBDCs Globally

Signicat launches new report on AI-driven identity fraud

DIMOCO Payments partners with Nextory

Ermes partners with Zwipe to distribute biometric access cards

Hunter Group ASA – Receives Enova grant of up to NOK 100 million



Landsbankinn integrates with CBA

Iceland’s legacy banks face being “disrupted into oblivion” unless embrace fintechs, says top fintech boss





Future events


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