Anyfin, a Swedish startup that offers to refinance consumer loans and credit card debt using a combination of artificial intelligence and a photo of the current statement and repayment terms, has bagged $30 million in a Series C round led by existing investor Northzone.
Launched in November 2017, Anyfin's founders Filip Polhem, Mikael Hussain and Sven Perkmann, have extensive experience in consumer finance, assessing credit risk and technology, having previously held leading roles at some of Sweden’s top tech companies, including iZettle, Klarna and Spotify.
The company uses publicly-available consumer data to assess the creditworthiness of customers and promises refinancing of existing loans within seconds upon receipt of a photograph of the existing loan statement, including repayment history.
Consumers can send Anyfin the picture through a channel of their choice, like SMS, email or Facebook Messenger, and the company replies with an option to refinance the loan at a better price. With one tap, the consumer accepts the new option from Anyfin, and the company takes care of settling the existing loan for them.
The company says the number of active customers on the platform grew 50% over the course of 2022, and half of its 1m app downloads came in the past 12 months.
Anyfin in October bagged $52 million of fresh funding to fuel the growth of its business across Europe. The firm said the capital woul be used to set up a new Berlin office - its first outside of Sweden - and strengthen its local team. In addition, Anyfin plans to launch a new app-based saving service for consumers across Germany, Sweden, and Finland.
The increased investment in Germany will include rolling out service offerings currently available in Sweden, such as an interest-free cash advance, a budgeting tool, and a way to block shopping with credit.
Other backers in the current Series C include Accel, EQT Ventures, FinTech Collective, Quadrille Capital, Augmentum Fintech and new investor Citi Ventures.