Alternative finance is gaining traction in the Nordics

altfi-nordics

Crowdfunding and alternative finance has grown from 6 billion USD in 2013 to 16 billion USD in 2014, and is estimated to have doubled in volumes to 34 billion USD in 2015 globally. As the segment matures, the grey area lenders and not less secure platforms are exposed and either closed down or fading into obscurity. In the Nordics Trustbuddy closed down last year, thinning out the herd and leaving more room for the sustainable platforms. Nordic Crowdfunding Alliance estimates a total of 9,6 million EUR raised through crowdfunding alone in the Nordics between 2012 – 2015. A quick look at the alternative finance space shows no signs of slowing down with a wide array of companies across all categories of alternative finance. I have attempted to categorize the companies by country as well as category, crowdfunding, marketplace lending and invoice trading.

Norway

Bidra.no is a crowdfunding platform, with a track record focusing on charitable causes. Bidra.no recently got into the equity-based crowdfunding space. Learn more at bidra.no.

Frunder is a crowdfunding platform focusing on raising capital in a social and a community setting. The service is aiming to help young athletes to raise capital for new equipment from the local community, schools to raise capital from parents and relatives for class trips, or simply to engage your friends and those around you to help out to fulfill a dream. The site is not yet live, but is said to launch in Q1 2016. Learn more at frunder.no.

New Jelly is a crowdfunding platform focusing on raising capital for cultural initiatives for musicians, authors, filmmakers. Learn more at New Jelly.

In addition, the French crowdfunding platform Spark Up has launched a Norwegian equity-based crowdfunding site, and there is yet another promising equity-based platform with an estimated launch in Q1 2016.

Sweden

FundedByMe is a crowdfunding platform aiming at the international market, and is perhaps the most well-known crowdfunding initiative from the Nordics. The FundedByMe platform operates on the “all or nothing” funding principle, where investments are made on a pledge basis and pledges are not released unless the project meets or exceeds a pre-set funding target. Learn more at FundedByMe.

Tessin Nordic crowdfunding is an equity based crowdfunding platform. Learn more at Tessin Nordic.

Toborrow is a marketplace lending platform directed at small business loans. Toborrow claims to be the first P2P lender in Sweden and is partially owned by Bonnier, a large Swedish media corporation. Learn more at Toborrow.

Föreningsinsamling is a crowdfunding platform directed at sports teams, schools and non-profit organizations seeking to raise capital. Learn more at Föreningsinsamling.

Lendify offers what the claim to be the first real marketplace lending platform in Sweden. The Company operates a marketplace online credit platform that enables people to borrow money and lend money from each other – without the involvement of bank. Lendify has raised a small amount of angel capital from undisclosed investors. Learn more at Lendify.

Kameo is a marketplace lending platform offering SME lending. Kameo is aiming at the Scandinavian market and is providing an efficient marketplace for investors to invest in the SME-segment. Learn more at Kameo.

Lendlink is a marketplace lending platform for consumer loans promising to provide consumer finance at better interest rates than incumbents. Learn more at Lendlink.

Savelend is a marketplace lending platform for consumer loans promising to provide an alternative investment opportunity for their investors than the banks. Learn more at Savelend

Denmark

Lendino is a marketplace lender providing access to debt investments for both private and institutional investors. Lendino received $42.8k in debt financing in 2014. Learn more at Lendino.

European Receivables Exchange is known as Dansk Faktura Børs in Denmark and is an invoice-trading platform where companies can turn invoices into cash. Dansk Faktura Børs is Denmark’s first and only online marketplace allowing companies to sell outstanding invoices to raise working capital. The first auction was held in May 2012, and since then more than 700 auctions have been completed. Learn more at Dansk Faktura Børs.

Booomerang is a crowdfunding platform. Learn more at Booomerang.

Betternow is a crowdfunding platform for charitable causes. Learn more at Betternow.

Aidbuilder is a crowdfunding platform for charitable causes. Learn more at Aidbuilder.

Donation Road is a crowdfunding platform for charitable causes. Learn more at Donation Road.

Flex Funding is a marketplace lending platform focusing on the SME segment. After experiences from the Danish market, the platform will be launched in other countries, focusing on the market potential in Northern Europe. Learn more at Flex Funding.

Dansk Låneformidling is a marketplace lending platform for business loans focusing on early stage growth companies in search of capital. The service also provide a financial mentor-option for companies in need of guidance, connecting capital with necessary competence. Learn more at Dansk Låneformidling.

Udenom Banken is a marketplace lending platform for property lending aimed at the underbanked/subprime segment. Learn more at UoB.dk

Better Rates is a marketplace lending platform for consumer loans promising to provide consumer finance at better interest rates as well as a profitable investment option for investors. Learn more at Better Rates.

KreditMatch is a marketplace lending platform focusing on the SME segment. Learn more at KreditMatch.

Finland

Fixura is a marketplace lending platform for consumer loans promising to provide consumer finance at better interest rates as well as a profitable investment option for investors. Learn more at Fixura.

Fellow Finance is a marketplace lending platform for consumer loans promising to provide consumer finance at better interest rates as well as a profitable investment option for investors. Learn more at Fellow Finance.

Lainaaja is a marketplace lending platform for consumer loans promising to provide consumer finance at better interest rates as well as a high yielding investment option for investors. Learn more at Lainaaja.

Invesdor is a crowdfunding platform that operates an EEA-wide debt and equity crowdfunding platform. Invesdor claims to be the first European crowdfunding player with a MiFID-level license for investment advice, reception and transmission of orders, and placing of financial instruments. Learn more at Invesdor.

Mesenaatti crowdfunding is a reward based crowdfunding platform. Learn more at Mesenaatti.

One things is for sure, with this much activity in the alternative finance segment, things are about to change.

From more in-depth material on alternative finance in both the Nordics and Europe as a whole, I strongly recommend crowd.one as the most comprehensive sites covering the segment to my knowledge. Please let me know if I have missed any companies.

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