SEB Venture Capital is making an SEK100 million investment in Swedish automated savings platform Lysa as part of a SEK350 million funding round
Lysa, which was founded in 2015 and currently counts 100,000 customers and 18 billion Swedish kronor in assets under management, intends to use the fresh capital to expand into new European markets.
Lysa operates an investment product under which customers set a goal and get a customised portfolio. Every deposit a customer makes is automatically invested according to this allocation.
“We’ve been following Lysa’s journey for some time as we are always looking to work with companies that bring fresh perspectives to our industry,” says Christoffer Malmer, head of SEB’s innovation studio SEBx and a member of SEB Venture Capital’s investment committee. “The investment in Lysa reflects our continued commitment to support and leverage innovation in the fintech ecosystem through identifying, working with and investing in leading fintech startups.”
The current shareholders of Lysa have extended their commitment and are funding most of the new round. Also joining as a new investor is Ramsbury Invest.