Nordic Fintech Highlights – November
Welcome to this month’s edition of Nordic Fintech Highlights!
Last week, we hosted our annual Nordic Banking Forum, bringing together the brightest minds in finance. If you missed it, don’t worry – you can catch the key takeaways in our blog post here.
Save the Date – Nordic Fintech Summit returns on May 15th, 2025 in Helsinki! Mark the date into your calendar and stay tuned as we unveil the first batch of speakers next Monday.
We’ve kicked off our Nordic Fintech Holiday Countdown, celebrating the season by spotlighting 24 Nordic fintech companies. Follow our LinkedIn page for daily doses of fintech inspiration and innovation throughout December.
Thank you for being part of the Nordic fintech community – we look forward to sharing more updates, insights, and inspiration with you!
November in brief
While Slush recently took the stage, fintech didn’t steal the spotlight this time, and the number of funding news remained small. However, Sitoo’s €26M round brought a much-needed boost to the numbers. Meanwhile, exciting updates emerged from Riksbanken and Norges Bank in the payments space, paired with a vibrant surge in mergers and acquisitions activity.
M&A
November was bustling with activity, particularly in the realm of crypto and digital assets, as Finnish NorthCrypto and Membrane found new homes, alongside Swedish Vinter. Meanwhile, the traditional finance sector also saw its share of noteworthy transactions.
Partnerships
Klarna continues to make waves with its global partnership ventures. In an exciting development, Saldo Bank has joined forces with Lunar to enhance payment efficiency and boost automation, showcasing a dynamic collaboration between two innovative neobanks.
Banks
As we move past Q3 season, banks are making headlines with new tech advancements. SEB Embedded is leveraging Thought Machine to enhance their Banking-as-a-Service (BaaS) offerings, while TF Bank is partnering with US-based Nice Actimize to strengthen their anti-money laundering, financial crime, compliance, and risk solutions.
In other news, Santander faced a €100,000 fine in Finland due to inadequate advertising practices.
Have a look at the news from November below and stay tuned for more!
You can find all the monthly Nordic Fintech updates from the past over here.
Country specific news
Finland
Paxos to Acquire Finnish E-Money Institution Membrane Finance
Changes to Northcrypto ownership
Zevoy closed the purchase of lounaat.info
Saldo Bank selects Lunar’s Nordic infrastructure to streamline payments for customers in Sweden
Wolt partners with Revolut to bring Wolt+ membership to its subscribers
Multitude p.l.c.: Multitude Group Announces CEO Transition Plan
Municipality Finance issues EUR 15 million notes under its MTN programme
Second green Nordic debut: MuniFin issues its first SEK green bond
Mastercard Lighthouse Winners: Top Fintech Startups from Nordics and Baltics
Denmark
Pluto.markets launches commission-free investing app in Denmark
Datacentral implements a merger between Sparekassen Danmark and Totalbanken
Sweden
Klarna Opens New Hub in Warsaw to Recruit 100 of Poland’s Top Tech Talents
Klarna launches payment options for Zoom Workplace
Blockchain Analytics Firm Kaiko Acquires European Crypto Index Provider Vinter
Klarna and Lenovo partner to expand payments in Europe
Klarna announces partnership with Finnair
SEB Embedded taps Thought Machine to power BaaS offering
Sitoo partners with Verdane to accelerate its global expansion
Sweden’s TF Bank selects Nice Actimize for AML SaaS solutions
Trustly Bolsters European Leadership with Appointment of Henrik Wallström as CTO
Mastercard Lighthouse Winners: Top Fintech Startups from Nordics and Baltics
Dooba Finance AB (publ) issues subsequent bonds of SEK 100 million
Eastnine carries out a set-off issue to the seller of Warsaw Unit
Investment AB Latour (publ) issues bond loans
Klarna picks New York for upcoming IPO
Sweden’s Riksbank presents case for modernisation of retail payments infrastructure
Sweden’s Riskbank opens up instant payments infrastructure for new use casesSaveLend enters negotiations over the sale of billing platform Billecta
Norway
Bislab funding news — Oslo-based Bislab Raises €1.7Million in Pre-Seed Funding
Signicat partners with AsiaVerify to expand digital identity solutions
Norway joins Eurosystem’s instant payment service
IDEX Biometrics signs deal with South Korean smart card manufacturer Cellfie GlobalIDEX Biometrics appoints new chief financial officer
Iceland
Future events
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