Debt management firm Anyfin, which helps users improve their financial well-being, has completed a €30 million Series C funding round. The capital will fuel the growth of its business across Europe, as well as help Anyfin to strengthen its product suite in existing European markets.
Amid the cost-of-living crisis, Anyfin’s services provide consumers with the ability to improve their personal finances by saving money on existing loans and credit. The company currently operates in Sweden, Norway, Finland, and Germany. Since its launch in Germany in March 2021, Anyfin has seen a 15% average monthly growth rate and fivefold growth in 2022. Its mobile app has been downloaded more than 1 million times, with more than 500,000 downloads in 2022.
Anyfin’s Series C round was led by existing investor Northzone, alongside Accel, EQT Ventures, FinTech Collective, Quadrille Capital, Augmentum FinTech, and new investor Citi Ventures. Since 2017, the company has raised closer to €600 million in debt and equity.
The new capital will be used to strengthen Anyfin’s product suite in existing markets across Europe and accelerate the development of new technology.
Mikael Hussain, Anyfin’s CEO, and Co-founder said, “With the current cost of living crisis putting increasing pressure on household finances, what we do is more valuable than ever for consumers, and this new capital will enable us to continue improving the scope and scale of our offering. The investment demonstrates that the financial industry is due for a significant realignment, in which consumers’ financial well-being comes first; we are very proud that both new and existing investors alike see us as a major player in European FinTech.”
Jeppe Zink, Partner at Northzone and Board member at Anyfin, added, “Overpayment for consumer financial services, fuelled by the opaqueness of the existing financial service industry, is perhaps the most valuable pain point which FinTech can solve. Anyfin is addressing this head-on with its re-finance proposition. Customers love their service, making it a leader in the financial wellness category.”Source: IBS Inelligence