Swedish fintech startup Anyfin has raised €4.8 million led by Accel and Northzone with Global Founders Capital and angel investors participating in the Series A round.
Launched late last year, Anyfin is a mobile app for consumers refinancing loans. The app uses AI to allow users to take a picture of their loan statement with the app then finding the best option for refinancing the loan at a better price.
Europeans pay too much for finance, said CEO Mikael Hussain, sometimes up to 25% more annually.
“Anyfin makes it as simple as possible to refinance a loan, setting a new standard for fairness and transparency and giving consumers the rate they deserve. Today’s investment will give us the opportunity to bring our solution to more and more people,” he said.
The app has launched in Sweden thus far. The new round of funding will be used to expand and acquire new users as well as invest in product development.
Accel’s Seth Pierrepont will be joining Anyfin’s board, he commented: “Combining their knowledge in credit risk and expertise in consumer finance products, [Anyfin has] built a powerful yet simple way to offer a better consumer refinancing experience across Europe.”